Cementir Holding N.v. · MIL:CEM
Cementir — H1 2019 Earnings Presentation
11 slides from Cementir's earnings presentation, Jul 26, 2019
Slide 1: Cementir Holding Group 2019 First Half results
Cementir Holding Group 2019 First Half results July 26th, 2019 Conference call | Rome, 26 July 2019
Slide 2: 2019 First Half results highlights
2019 First Half results highlights Revenue rose by 0.6% to 591.9 M€ ▪ Good performance of Nordic & Baltic (+3%), Belgium (+6%) and Egypt (+53%) offset by TRY devaluation and difficult trading in Turkey ▪ Like-for-like revenue declined by 5% ; at constant FX, revenue would have been 601.8 M€ (+2.3%)
Slide 3: Nordic & Baltic
Nordic & Baltic • Denmark 47% ▪ Domestic grey cement volumes significantly up thanks to 53% higher activity and mild weather ▪ Export volumes are flat for white cement and slightly down for grey cement with prices up Share of Share of ▪ Ready-mix concrete volumes are down due to lower Group Revenue
Slide 4: Belgium and France
Belgium and France (1) • Belgium / France 28% ▪ Volumes up thanks to mild weather and positive trend in sales 23% in Belgium, France and The Netherlands, with prices up ▪ Ready-mixed concrete volumes slightly down due to selective Share of Share of market positioning and strong competition Group Rev
Slide 5: North America
North America 10% 13% • United States ▪ White cement volumes sold reached 323kt in the semester, revenues 70.4 M€ and EBITDA 12 M€ Share of Share of ▪ Like-for-Like comps are meaningless as LWCC was Group Revenue Group Ebitda consolidated from Q2 2018 onwards H1 2019 H1 2019 ▪ Other Group subsidiari
Slide 6: Turkey and Egypt
Turkey and Egypt • Turkey -2% ▪ Cement volumes dropped by -40% due to domestic 12% recession. Domestic cement volumes down -47% while export increased. Domestic prices in local currency moderately up with different trends Share of Share of ▪ RMC revenue in local currency declined by 43%, with Group
Slide 7: Asia Pacific
Asia Pacific 7% 8% • China ▪ Revenue are up 15% with both domestic volumes and prices up ▪ EBITDA increased by 7.5% benefiting from higher volumes Share of Share of Group Revenue Group Ebitda • Malaysia H1 2019 H1 2019 ▪ Domestic white cement volumes and prices up with better product mix ▪ Export vo
Slide 8: Consolidated income statement
Consolidated income statement (EUR million) H1 2019 H1 2018 Chg % REV EN U E F ROM SA LES A N D SERV ICES 591.9 588.5 0.6% Change in inventories 4.7 7.2 (33.7%) Other revenue 7.5 9.5 (21.2%) TOTA L OPERA TIN G REV EN U E 604.2 605.1 ( 0.2%) Raw materials costs (231.5) (244.7) (5.4%) Personnel costs
Slide 9: 2019 Guidance and IFRS 16 impact
2019 Guidance and IFRS 16 impact EUR million • 2019 Revenues to reach ~ Eur 1.25 BN 255 • 2019 EBITDA ~ Eur 250-260 M 245 Including Eur 23 M of IFRS 16 impact 235 225 • 2019 NFP around Eur 245 M Including ~ Eur 80 M of IFRS 16 impact 215 • 2019 Capex ~ Eur 70 M EBITDA NFP Net Financial Position / Eb
Slide 10: IFRS 16 Impact on 2019 main figures
IFRS 16 Impact on 2019 main figures − Cementir will adopt the IFRS 16 - standard from 2019 onwards, with impacts on the financial statements EBITDA 23 M€ − The present value of the future operating lease payments will be recognized as right-of-use-assets and interest bearing liabilities in the balan
Slide 11: Disclaimer and Other information
Disclaimer and Other information •This presentation has been prepared by and is the sole responsibility of Cementir Holding S.p.A. (the Investor Relations: “Company”) for the sole purpose described herein. In no case may it or any other statement (oral or otherwise) made at any time in connection he