Titan S.a. · EURONEXT:TITC

Titan — TITAN Cement Group — 9M 2013 Earnings Presentation

19 slides from Titan's earnings presentation, Nov 12, 2013

  1. Slide 1: Financial Results – 9M 2013

    Financial Results – 9M 2013 Analysts’ conference call Athens, 12th November, 2013

  2. 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

  3. Slide 3: Agenda

    Agenda  Group Financial Results  Market Overviews  Outlook 3

  4. Slide 4: Continued Positive Trends Despite Uncertainties

    Continued Positive Trends Despite Uncertainties  6% Revenue and 22% Operating Profitability growth in 3Q.  US recovery is picking-up pace.  Resilient Eastern Mediterranean operating profitability, despite political uncertainty.  Exports partially mitigate impact from depressed demand in Greece.

  5. Slide 5: Operating Profitability Grows in the 3d Quarter

    Operating Profitability Grows in the 3d Quarter Quarterly EBITDA in €m 9.5 FX Impact 162.5 153.6 77.7 67.9 50.4 61.4 34.4 24.3 2012 2013 2012 2013 2012 2013 2012 2013 9M YTD Q1 Q2 Q3 5

  6. Slide 6: 6th Consecutive Quarter of Top-Line Growth

    6th Consecutive Quarter of Top-Line Growth In Million Euro, unless otherwise stated 9M 2013 9M 2012 Variance Q3 2013 Q3 2012 Variance Net Sales 888.3 847.0 4.9% 316.3 299.2 5.7% Net Sales excl. Translation Impact 921.7 847.0 8.8% 330.3 299.2 10.4% EBITDA 153.6 162.5 -5.5% 61.4 50.4 21.9% EBITDA excl

  7. Slide 7: 9M 2013 Net Profit Impacted by FX Losses

    9M 2013 Net Profit Impacted by FX Losses Evolution of Group Net Profit After Taxes and Minorities (€ in millions) 10 2.0 (9.5) (14.6) 0 4.2 (0.8) (1.4) (21.2) 0.6 -10 EBITDA 12.6 (1.1) EBITDA FX (Net of FX) -20 (8.9) -30 NPAT Change in Operating Depn. Interest Other FX Gains/ Taxes Minority NPAT 201

  8. Slide 8: Sales Volume Growth Across All Product Lines

    Sales Volume Growth Across All Product Lines 9 Months 3rd Quarter 14.0 13.1 5.0 4.6 12.0 2012A 12.0 4.2 2012A 2013A 4.0 2013A 10.0 8.9 3.1 7.9 8.0 3.0 2.8 +9%(3) +9%(3) 6.0 2.0 +14%(3) 4.0 +12%(3) 2.52 2.54 0.86 0.89 1.0 2.0 +1%(3) +4%(3) 0.0 0.0 (1) (2) Cement (1) (2) Aggregates Ready-mix Cement Ag

  9. Slide 9: Top Line Growth and Resilient Operating Profitability in 9M13

    Top Line Growth and Resilient Operating Profitability in 9M13 Turnover Reconciliation EBITDA Reconciliation (€ in millions) (€ in millions) 4.9% -5.5% 180 -9.5 162.5 0.6 1,000 74.7 160 153.6 -33.4 888.3 900 847.0 140 -5.8% 0.4% 9 Months 800 700 120 -3.9% 8.8% 600 100 500 80 400 60 300 40 200 EBITDA

  10. Slide 10: €76m Free Cash Flow from Operations

    €76m Free Cash Flow from Operations Sources and Uses of Cash (€ in millions) 180 Operating Free Cash Flow 160 154 (10) (30) 140 (38) 120 100 (2) (84) 80 60 40 20 €76m 11 1 0 -20 EBITDA 9M Non-Cash CapEx Operating Disposals Interest, Tax, Net FX Impact Change in 2013 Items Working Net of Dividends Ne

  11. Slide 11: Net Debt Reduction Exceeding €0.5 B since 2009

    Net Debt Reduction Exceeding €0.5 B since 2009 Group Net Debt (€ in millions) 1,300 1,154 1,100 1,029 1,028 971 988 917 873 900 777 777 788 745 768 708 700 640 667 Net debt 630 596 586 594 500 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2009 2010 2011 2012 2013 11

  12. Slide 12: Agenda

    Agenda  Group Financial Results  Market Overviews  Outlook 12

  13. Slide 13: Sales Growth in most Regions with US Operating Profitability Steadily on the Rise

    Sales Growth in most Regions with US Operating Profitability Steadily on the Rise 9M 2013 Turnover (€m) 9M 2013 EBITDA (€m) 29% 15% 21% 189.7 5% 8% 12.4 38% 42% -63% GREECE GREECE 21% 180.6 20% 33.2 27% -11 34% 25% 15% -11 305.8 23.1 USA 12% USA 579% 32% 14% 273.0 2%3.4 9% 19% 164.4 32% 48.4 SEE -6%

  14. Slide 14: Greece Capacity Utilization is Boosted by Exports, while Domestic Building Activity Remains Depressed

    Greece Capacity Utilization is Boosted by Exports, while Domestic Building Activity Remains Depressed  Cement domestic sales volumes continue to decline but at a slower pace.  Soft domestic demand is offset by robust exports, which support plant operating rates.  Prices continue to come under pre

  15. Slide 15: US Growth in Operating Profitability Picking Up Pace

    US Growth in Operating Profitability Picking Up Pace  Cement consumption in the South Atlantic region increased by 9.2%, as compared to an average national increase of 4.1% in the 9M2013.  Market demand in Florida grew by +22%, driven by accelerated recovery in the residential sector.  Sales grow

  16. Slide 16: In SEE Modest Price Gains Quarter on Quarter

    In SEE Modest Price Gains Quarter on Quarter  In SEE construction activity relatively stable at low levels, while Euro-zone induced uncertainties persist.  Modest domestic sales volume growth in most SEE countries.  Reversal of price trends in Q3, not sufficient to offset the substantial decline

  17. Slide 17: EMED Operating Profitability Resilient, Despite Political Instability

    EMED Operating Profitability Resilient, Despite Political Instability, Higher Costs and EGP Depreciation  Challenging business environment due to political uncertainties in Egypt.  Egypt construction activity remains resilient. Decline in cement consumption by 3% in 9M2013 may reflect restricted m

  18. Slide 18: Agenda

    Agenda  Group Financial Results  Market Overviews  Outlook 18

  19. Slide 19: Outlook 2013

    Outlook 2013 • Greece: Demand nearing the bottom? • US: Recovery picks up pace • South Eastern Europe: Still held back by European crisis • Eastern Med: Resilience in a challenging environment in Egypt • Focus remains on:  Free cash flow generation  Productivity initiatives  Reducing carbon footp

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