Cementir Holding N.v. · MIL:CEM
Cementir — FY2018 Earnings Presentation
14 slides from Cementir's earnings presentation, Mar 7, 2019
Slide 1: Cementir Holding Group 2018 Full Year results
Cementir Holding Group 2018 Full Year results March 7th, 2019 Conference call | Rome, 7 March 2019
Slide 2: 2018 Full Year results highlights
2018 Full Year results highlights EUR million 1,140.0 1,196.2 • Revenues rose by 4.9% to a record 1,196.2 M€ including 104.3 M€ 1200 from LWCC consolidated from April 1st, 2018 1000 − Like-for-like Revenue declined by 4.2% due to TRY devaluation and 800 543.2 difficult trading in Turkey and Egypt 60
Slide 3: Nordic & Baltic
Nordic & Baltic • Denmark − Domestic grey cement volumes down -3% due to harsh winter, the 43% completion of large projects and a muted market growth 50% − White cement exports declined by -2%; grey cement export grew by +11% − Ready-mix concrete volumes down -3% due to Metro project phase out, with
Slide 4: Belgium and France
Belgium and France (1) • Belgium / France − Dynamic construction sector with significant increase in new housing permits and public works benefitting from the main road network 19% 23% infrastructure projects Share of Share of − Cement and clinker volumes increased by 2% with prices flat 2018 Group
Slide 5: Eastern Mediterranean
Eastern Mediterranean (1) • Turkey 11% − Cement volumes dropped by -17.5% with a strong slowdown in H2 16% linked to currency crisis in the summer. Domestic cement prices up considerably due to high inflation − RMC volumes increase by +9% with local currency prices up and the Share of Share of impac
Slide 6: Asia Pacific
Asia Pacific 7% 8% • China − Cement volumes up by +5.5%, prices slightly up − Exports, not significant, are mainly directed to South Korea, Hong Kong and Taiwan − Good cost control helped EBITDA progression Share of Share of 2018 Group Revenue 2018 Group Ebitda • Malaysia − White cement and clinker
Slide 7: North America
North America 7% 9% • United States − Acquisition of an additional 38.75% stake in Lehigh White Cement Company, completed on 29 March 2018. Total shareholding of 63.25%. Line-by-line consolidation from Q2 Share of Share of − Like-for-Like volumes up 7%, with prices flat/down 2018 Group Revenue 2018
Slide 8: Financial result
Financial result Chg (EUR million) 2018 2017 % Net profit from Assoc iates 1 ,0 5 0 4 ,7 8 5 (7 8 %) Total financial income 70,835 13,468 426% Total financial expense (28,145) (26,916) 5% Foreign exchange rate gains (losses) (12,318) (5,249) 135% Net financ ial inc ome (expense) 3 0 ,3 7 2 (1 8 ,6 9
Slide 9: NFP bridge
NFP bridge Net Financial Position decreased by almost 288 M€ due to: 315 M€ cash inflow from Cementir Italia sale, partially offset by 87,7 M€ paid for LWCC stake, strong operating cash flow, capex and dividend distribution EUR million -287.9 (1) (1) Of which EUR 15.9 million distributed by Cementir
Slide 10: 2019 Guidance & IFRS 16 Impact
2019 Guidance & IFRS 16 Impact Eur M EBITDA NFP 250 • 2019 Revenues to be ~ Eur 1.25 BN 200 • 2019 EBITDA ~ Eur 250-260 M 150 Including Eur 23 M of IFRS 16 impact 100 • 2019 NFP around Eur 245 M 50 Including Eur 80 M of IFRS 16 impact 0 2019 2019 (IFRS 16) • 2019 Capex ~ Eur 70 M Net Financial Posit
Slide 11: 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 12: Consolidated income statement
Consolidated income statement * Change EUR (EURmillion million) 2018 2017 % REVENUE FRO M SALES AND SERVICES 1 ,1 9 6 .2 1 ,1 4 0 .0 4 .9 % Change in inventories 12.4 0.6 1886.8% Other revenue 31.1 29.4 5.7% TO TAL O P ERATING REVENUE 1 ,2 3 9 .7 1 ,1 7 0 .0 6 .0 % Raw materials costs (479.3) (444.2
Slide 13: Consolidated Balance sheet
Consolidated Balance sheet EUR million CAPITAL EMPLOYED 31/12/2018 31/12/2017 NON CURRENT ASSETS & LIABILITIES Tangible, intangible and financial assets 1,462.4 1,354.9 Deferred taxes assets/ liabilities (98.5) (93.8) Other non current assets/ liabilities (72.8) (63.6) TOTAL NON CURRENT ASSETS & LIA
Slide 14: 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