Slide 1: Financial Results – 1st Quarter 2013
Financial Results – 1st Quarter 2013 Analysts’ conference call Athens, 14th May, 2013
Slide 2: Disclaimer
Disclaimer •This document contains forward-looking statements relating to the Group’s future business, development and economic performance. It also includes statements from sources that have not been independently verified by the Company. •Such statements may be subject to a number of risks, uncert
Slide 3: Agenda
Agenda Group Financial Results Market Overviews Outlook 3
Slide 4: US Turnaround and Strong Exports Stand Out During the Seasonally Weak First Quarter
US Turnaround and Strong Exports Stand Out During the Seasonally Weak First Quarter 11.8% top-line growth in 1Q 2013, excluding negative translation impact. Volume growth and successful price increase for all products in North America. Gas shortages in Egypt restrain local production capacity.
Slide 5: Top Line Growth Continues
Top Line Growth Continues In Million Euro, unless otherwise stated Q1 2013 Q1 2012 Net Sales 243.0 225.4 7.8% EBITDA 24.3 34.4 -29.4% FX Gains/Losses -1.2 -2.9 Profit Before Taxes -23.5 -17.6 Net Profit after Taxes & Minorities -27.1 -19.4 Earnings per Share (€/share) — basic -0.3320 -0.2381 Share P
Slide 6: Operating Profitability Impacted by Profit Sharing in Egypt and Sales of Carbon Rights
Operating Profitability Impacted by Profit Sharing in Egypt and Sales of Carbon Rights Evolution of Group Net Profit After Taxes and Minorities (€ in millions) 6
Slide 7: Sales Volume Growth Across All Product Lines
Sales Volume Growth Across All Product Lines Turnover Reconciliation 1st Quarter Sales Volume 4.0 2012A 3.5 3.2 2013A 3.0 2.7 2.4 2.0 +12%(3) +13%(3) EBITDA Reconciliation 1.0 0.77 0.79 +2%(3) 0.0 (1) (2) Cement Aggregates Ready-mix (tn m) (tn m) (m3 m) (1) Cement sales include clinker and cementiti
Slide 8: Seasonally Higher Working Capital Leads to a €35m Increase in Net Debt
Seasonally Higher Working Capital Leads to a €35m Increase in Net Debt vs. 31.12.2012 Sources and Uses of Cash (€ in millions) Operating Free Cash Flow 30 1 24 (7) (31) 20 10 0 -10 (4) (16) -20 -30 -€13m (2) (35) -40 EBITDA 3M Non-Cash CapEx Operating Acquisitions Interest, Tax, Net FX Change in 201
Slide 9: First Quarter Seasonality Manifested in Net Debt Evolution
First Quarter Seasonality Manifested in Net Debt Evolution Group Net Debt (€ in millions) 1,300 1154 1,100 1029 1028 971 988 917 873 900 777 777 788 768 745 708 700 640 667 Net debt 630 596 500 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2009 2010 2011 2012 9
Slide 10: Agenda
Agenda Group Financial Results Market Overviews Outlook 10
Slide 11: Top Line Growth in Most Regions, while EMED is affected by Gas Shortages in Egypt
Top Line Growth in Most Regions, while EMED is affected by Gas Shortages in Egypt Q1 2013 Turnover (€m) Q1 2013 EBITDA (€m) 29% 15% 38% 42% 27% -11 25% -11 14% 30% 9% 20% 30% 73% 28% 55%
Slide 12: Drop in Profitability in Greece is Abated by Increased Exports and Restructuring
Drop in Profitability in Greece is Abated by Increased Exports and Restructuring Cement domestic sales volumes continue to decline but at a slower pace. Decline is offset by robust exports, which support plant operating rates. Prices continue to come under pressure. No sales of carbon rights
Slide 13: In the USA Revenue Growth and Return to Positive EBITDA
In the USA Revenue Growth and Return to Positive EBITDA During a First Quarter after 4 Years US construction industry has turned the corner. Housing starts on the rebound with existing home inventory at pre-bubble levels and new home supply at 50-year lows. Cement consumption in the South Atla
Slide 14: In SEE Construction Activity Remains Still in the Shadow of Eurozone Uncertainties
In SEE Construction Activity Remains Still in the Shadow of Eurozone Uncertainties Construction activity in the region may be slowly stabilizing. Growing demand in the 1st quarter, as compared to a 1Q 2012 hit by harsh weather. Sales Volume and Revenue growth supported by exports from the region
Slide 15: Resilient Operating Profitability in EMED, Despite Impact from Gas Supply Limitations
Resilient Operating Profitability in EMED, Despite Impact from Gas Supply Limitations & Cost Hikes Political uncertainties construe a challenging business environment in Egypt. Egypt Construction activity remains resilient. A reported contraction of cement market in 1Q may reflect restricted sup
Slide 16: Agenda
Agenda Group Financial Results Market Overviews Outlook 16
Slide 17: Outlook 2013
Outlook 2013 • Greece: Demand nearing the bottom? • US: Sustained Turnaround • South Eastern Europe: Held back by EU crisis • Eastern Med: Challenging Environment, Low Visibility in Egypt • Focus remains on: ¾ Free cash flow generation ¾ Productivity initiatives ¾ Reducing carbon footprint ¾ Bolt –o