Slide 1: First Half 2011 Results
FIRST HALF 2011 RESULTS August 5th, 2011 Jean Pierre So Jean-Pierre Souchet chet - CFO
Slide 2: Disclaimer
2 Disclaimer This presentation may contain forward-looking statements. Such forward- looking statements do not constitute forecasts regarding results or any other performance indicator,, but rather trends or targets p g These statements are by their nature subject to risks and uncertainties as descr
Slide 3: Contents
3 Contents Highlights First half 2011 results Analysis by region Balance sheet and cash flow Outlook
Slide 4: Solid performance in a contrasted environment
4 Solid performance in a contrasted environment S Strong consolidated lid d sales l growth: h Reported increase +16.4% and +10.7% at constant scope and exchange h rates t Solid EBITDA growth and resilient margins EBITDA at €253 million, +9,2% and +4,4% at constant scope and exchange rates EBITDA mar
Slide 5: Contents
5 Contents Highlights First half 2011 results Analysis by region Balance sheet and cash flow Outlook
Slide 6: Simplified Net Income Statement
6 Simplified p Net Income Statement H1 H1 Change Ch Change € Millions (at constant scope 2011 2010 (reported) & exchange rates) Consolidated sales 1 146 985 +16.4% 16.4% +10.7% 10.7% EBITDA* 253 232 +9.2% +4.4% EBITDA margin (%) 22.1 23 6 23.6 EBIT** 165 148 +11.0% +5.3% EBIT margin g ((%)) 14.4 15.
Slide 7: Breakdown of consolidated sales by activity
7 Breakdown of consolidated sales by activity Contribution by activity: Contribution by activity: H1 2011 H1 2010 14% 13% Cement Concrete & Aggregates 52% 51% 35% 35% Other Products & Services Sales: €1,146 €1 146 million (+16 (+16.4% 4% and +10 +10.7% 7% at constant scope and exchange rates) Cement
Slide 8: Breakdown of consolidated sales by region
8 Breakdown of consolidated sales by region Contribution byy region: g Contribution byy region: g H1 2011 H1 2010 France 20% Europe 23% 43% 42% 14% United States 11% Turkey, India & Kazakhstan 7% 9% 15% 16% Africa & Middle East Increase of contribution from Turkey, India & Kazakhstan Slight increase
Slide 9: Breakdown of EBITDA by region
9 Breakdown of EBITDA by region Contribution byy region: g Contribution byy region: g H1 2011 H1 2010 France 31% 42% Europe 41% 37% United States 11% Turkey, India & Kazakhstan 6% 18% 18% -2 % Africa & Middle East -2 % Strong increase in contribution from France and from Turkey, India & Kazakhstan S
Slide 10: Contents
10 Contents Highlights First half 2011 results Analysis by region Balance sheet and cash flow Outlook
Slide 11: Analysis by region: France
11 Analysis by region France H1 H1 Change Change € Millions ((at constant scope p & 2011 2010 (reported) exchange rates) Consolidated sales 489 415 +17.8% +15.7% EBITDA 106 87 +22.0% 22.0% +20.1% 20.1% EBIT 77 60 +29.3% +27.3% Sales S Strong increase i thanks h k to very ffavourable bl weather h con
Slide 12: Analysis by region: Europe (excluding France)
12 Analysis by region Europe (excluding France) H1 H1 Change Change € Millions (at constant scope & 2011 2010 (reported) exchange rates) Consolidated sales 189 146 +29.2% +7.5% EBITDA 47 41 +14 7% +14.7% +0 8% +0.8% EBIT 34 29 +16.3% +3.0% Switzerland: strong sales growth and solid EBITDA margins Sa
Slide 13: Analysis by region: United States of America
13 Analysis by region United States of America H1 H1 Change Change € Millions Milli (at constant scope & 2011 2010 (reported) exchange rates) Consolidated sales 77 85 -9.5% -4.4% EBITDA (6) (4) -41.8% -49.8% EBIT (21) (21) -2.5% -3.0% Consolidated sales fell 4.4% In Cement, sales fell 13.1%, affecte
Slide 14: Analysis by region: Turkey, India and Kazakhstan
14 Analysis by region Turkey India, Turkey, India and Kazakhstan H1 H1 Change Change € Millions (at constant scope & 2011 2010 ( (reported) t d) exchange rates) Consolidated sales 162 107 +51.8% +22.4% EBITDA 29 14 +102 9% +102.9% +48 6% +48.6% EBIT 14 3 +310.6 +150.7 Turkey: Sales at €94 million, u
Slide 15: Analysis by region: Africa and Middle East
15 Analysis by region Africa and Middle East H1 H1 Change Change € Millions Milli (at constant scope & 2011 2010 (reported) exchange rates) Consolidated sales 229 232 -1.1% +3.8% EBITDA 78 95 -17.4% -13.2% EBIT 60 77 -22.1% -18.0% Sales grew by +3.8% and EBITDA margin at 34.1% down from 40.8%, mainl
Slide 16: Contents
16 Contents Highlights First half 2011 results Analysis by region Balance sheet and cash flow Outlook
Slide 17: Financial situation in H1 2011: Balance Sheet
17 Financial situation in H1 2011 Balance Sheet Group Gearing at 48% vs. 39% at 31 December 2010 and 41% at 30 June 2010 Net debt at €1,138 million at 30 June 2011 vs. €988 million at 31 December 2010 and €1,028 million at 30 June 2010 Shareholders' equity at €2,386 million vs. €2,557 million at 31
Slide 18: Financial situation in H1 2011: Cash Flow
18 Financial situation in H1 2011 Cash Flow Cash flow in H1 2011 of €194 million vs. €181 million for H1 2010 Capital expenditure at €122 vs. €140 million in H1 2010 Largely involving on-going investments in projects in India and Kazakhstan Remainder corresponds to investments in maintenance and imp
Slide 19: Contents
19 Contents Highlights First half 2011 results Analysis by region Balance sheet and cash flow Outlook
Slide 20: 2011 outlook
20 2011 outlook The Group confirms the expected trends as communicated with the publication of its 2010 full year results and during its AGM S Several l ffactors t will ill affect ff t the th EBITDA margin i iin 2011 2011: The ramping up of the Bharathi Cement plant in India and the start-up costs o
Slide 21: 2011 outlook
21 2011 outlook Vicat is determined to continue cautiously pursuing its growth strategy, which is supported by: a solid financial structure the benefits of the "Performance 2010" plan, particularly lower production costs resulting from the modernisation of production f facilities and the strengtheni
Slide 22: First Half 2011 Results
FIRST HALF 2011 RESULTS August 5th, 2011