Vicat Sa · EURONEXT:VCT
Vicat Sa — Q3 2024 Earnings Presentation
24 slides from Vicat Sa's earnings presentation, Nov 5, 2024
Slide 1: Q3 2024 Sales
Q3 2024 SALES Hugues CHOMEL Pierre PEDROSA Deputy CEO and CFO Head of Investor Relations
Slide 2: Forward-looking statements
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 ; These statements are by their nature subject to risks and uncertainties as described in the C
Slide 3: Agenda Q3 2024
Agenda Q3 2024 ▼ Highlights ▼ Regional performance ▼ Senegal kiln 6 update ▼ Circularity performance ▼ 2024 guidance 3 Q3 2024 SALES
Slide 4: Highlights
H19M 2024 2023 highlights Highlights Organic sales Strong sales EBITDA 2024 Strategic venture growth growth in USA guidance confirmed + + 3.3% + 10.6% 3 + % to + % 8 ~ 200M€ EBITDA growth vs 2023 despite historical low With growth in both regions annual sales activity in Europe Outperforming US Crea
Slide 5: Q3: LFL sales growth despite slowdown in France & Asia
Q3: lfl sales growth despite slowdown in France & Asia (€ million) % of Sales Q3 2024 Q3 2023 Δ Δ reported reported LFL* France 30% 285 301 -5.1% -5.1% +0.7% 111 108 +2.8% +5.4% organic sales Europe 11% growth Americas 26% 262 270 -3.0% +1.2% Asia 12% 103 131 -21.4% -19.0% Mediterranean 11% 129 153
Slide 6: Q3 sales bridge: resilient organic sales, unfavorable FX effect
Q3 sales bridge: resilient organic sales, unfavorable FX effect Million, EUR 1048 1056 -43 51 -77 979 Q3 2023 Volume Price Q3 2024 FX & Scope Q3 2024 (LFL*) *Constant scope and exchange rates Q3 2024 SALES
Slide 7: 9M24 sales bridge
9M24 sales bridge Million, EUR 3059 2960 170 -143 -71 2916 9M 2023 Volume Price 9M 2024 FX & Scope 9M 2024 (LFL) *Constant scope and exchange rates Q3 2024 SALES
Slide 8: France
France Q3 9M 24 Sales (EUR m) 24 Sales (EUR m) -5.1% -5.6% 285 -5.1% lfl* 879 -5.6% lfl* FRANCE Continuous decline of Cement volumes with sequential Lyon-Turin rail tunnel gradually improvement in Q3 begins to contribute Cement prices remain resilient Stabilization of Concrete & Aggregates following
Slide 9: VPI + Cermix: Creating a new leader in construction chemicals in France
VPI + Cermix : Creating a new leader in construction chemicals in France #1 Growth drivers 60% 40% ²²²²²²²²² in France in tiling & Renovation/RMI flooring + Tile glue & ground adhesive Operated by Vicat New construction #1 ²²²²²²²²² Launch of low with in France carbon products in masonry ~200M€ rang
Slide 10: Creating a new leader in construction chemicals in France: VPI & Cermix
Creating a new leader in construction chemicals in France: VPI & Cermix Strong geographic fit 7 industrial sites for 800 kt annual production capacity 15 regional logistics warehouses ~400 employees Synergies: Production, purchasing, R&D, logistics Leveraging 2 strong brands: VPI & Cermix No
Slide 11: Europe
Europe Q3 9M 24 Sales (EUR m) 24 Sales (EUR m) +2.8% +1.5% 111 +5.4% lfl* 307 +3.4% lfl* SWITZERLAND ITALY Weakness of the residential market, with Solid activity growth thanks to volumes down slightly; Stable improved volumes and average Vigier Rail, Suisse Cement prices in Q3 selling prices Major
Slide 12: Americas
Americas Q3 9M 24 Sales (EUR m) 24 Sales (EUR m) -3.0% +4.9% 262 +1.2% lfl* 756 +6.5% lfl* USA BRAZIL Helene hurricane severely disrupted business in the south-east in end- Smaller contraction in volumes and September price than in the first half California, volumes down slightly in Price-over-volum
Slide 13: Asia
Asia Q3 9M 24 Sales (EUR m) 24 Sales (EUR m) -21.4% -5.1% 103 -19.0% lfl* 345 -3.6% lfl* INDIA KAZAKHSTAN Business impacted by monsoon and an Fall in volumes in Q3 due to unfavorable basis of comparison unfavorable basis of comparison Post-election environment weighed on construction activity in the
Slide 14: Mediterranean
Mediterranean FY Q3 9M 24 23 Sales (EUR m) 24 Sales (EUR m) -15.9% -1.7% 129 +23.0% lfl* 343 +32.1% lfl* TURKEY EGYPT Fall in volumes in Q3 due to a Contraction in domestic volumes, slowdown in the public construction more than offset by growth in cement market after municipal elections and clinker
Slide 15: Africa
Africa FY Q3 9M 24 23 Sales (EUR m) 24 Sales (EUR m) +3.7% -2.7% 89 +4.3% lfl* 286 -1.8% lfl* SENEGAL MALI & MAURITANIA Cement business in Senegal grew in Slight contraction in volumes in Mali in Q3 with slightly higher volumes stable pricing environment Strong growth in Aggregates in Q3 Solid sales
Slide 16: Senegal project update
Senegal project update Substitute clinker imports with locally produced 1 clinker Improve industrial performance and cost base 2 by replacing production from kiln 3 & 4 3 Reduce CO2 emissions 2.0mt € 260M 18% CLINKER ROCE CAPACITY CAPEX TARGET Kiln 6 construction Senegal, COMMISSIONING IN H1 2025 Oc
Slide 17: Circularity at the heart of our strategy
Circularity at the heart of our strategy Energy substitution 1.6mt Materials substitution Recycled additives Recycled raw materials (fly ash, slag…) coming from (contaminated soil, ash from fuel…) different industries used to waste substitute clinker instead of natural mineral resources used for cli
Slide 18: 2024 guidance update
2024 guidance update Updated guidance (04/10/2024) Previous guidance (25/07/2024) SALES Limited lfl* sales growth Limited sales growth EBITDA +3% to 8% increase +3% to 8% increase CAPEX ~€325M ~€325M Pursuit of deleveraging towards CAPITAL ALLOCATION DISCIPLINE and < 1.3x by 2025 18 *Constant scope
Slide 19: Group's priorities
Group’s priorities 1 2 3 (2021 EBITDA margin 19.8%) (1.97x at end 2023) 19 Q3 2024 SALES
Slide 20: Q3 2024 Sales
Q3 2024 SALES
Slide 21: Backup slides
Backup slides Mumbai Trans-Harbour Link 21 Q3 2024 SALES
Slide 22: Sales growth despite slowdown in France & Asia
Sales growth despite slowdown in France & Asia (€ million) % of Sales 9M 2024 9M 2023 Δ Δ reported reported LFL* France 30% 879 931 -5.6% -5.6% +3.3% Ytd 307 303 +1.5% +3.4% organic sales Europe 11% growth Americas 26% 756 720 +4.9% +6.5% Asia 12% 345 364 -5.1% -3.6% Mediterranean 11% 343 349 -1.7%
Slide 23: Share information & contact
SHARE INFORMATION & CONTACT Contact Share Data VICAT www.vicat.com Bloomberg Ticker VCT FP 4 Rue Aristide Berges Reuters RIC VCTP.PA Les Trois Vallons 38080 Isle-d’Abeau ISIN Code FR0000031775 FRANCE Shares outstanding as of Dec. 31, 2023 44,900,000 Pierre PEDROSA, Head of Investor Relations relatio
Slide 24: Build together, live together
Build together, live together