Vicat Sa · EURONEXT:VCT
Vicat Sa — H1 2022 Earnings Presentation
25 slides from Vicat Sa's earnings presentation, Jul 28, 2022
Slide 1: H1 results – 2022
H1 results– 2022 Hugues Chomel Stéphane Bisseuil Deputy CEO and CFO Investor Relations Officer
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 Co
Slide 3: Agenda: Highlights
Ø Highlights 2022 Half-year results Analysis by geographical region Balance sheet and cash flow items Recent events 2022 Outlook Lorem ipsum dolor sit amet 3 2022 Half-year results
Slide 4: H1 2022 Highlights
H1 2022 Highlights Solid sales growth Profitability adversely Solid cash generation affected by the significant and robust balance increase in energy costs sheet and non-recurring industrial costs 4 2022 Half-year results
Slide 5: Agenda: 2022 Half-year results
Highlights Ø 2022 Half-year results Analysis by geographical region Balance sheet and cash flow items Recent events 2022 Outlook Lorem ipsum dolor sit amet 5 2022 Half-year results
Slide 6: Condensed income statement
Condensed income statement Change Change (€ million) H1 2022 H1 2021 (reported) (at constant scope and exchange rates) Sales 1 755 1 560 +12.5% +14.5% EBITDA 269 300 -10.4% -9.8% EBITDA margin (%) 15.3% 19.2% EBIT 128 171 -24.9 % -23.5% EBIT margin (%) 7.3% 11.0% Consolidated net income 88 102 -13.8
Slide 7: Change in EBITDA
Change in EBITDA (by factor) +259M€ 300M€ -40.5M€ +24.2M€ -11M€ 271M€ -2M€ 269M€ -261M€ EBITDA 2021 Volume effect Price effect Cost inflation/ Various Variation in EBITDA 2022 Exchange / scope EBITDA 2022 Markets & Countries) & non-recurring inventories (lfl) differences § Strong price increases, al
Slide 8: Agenda: Analysis by geographical region
Highlights 2022 Half-year results Ø Analysis by geographical region Balance sheet and cash flow items Recent events 2022 Outlook Lorem ipsum dolor sit amet 8 2022 Half-year results
Slide 9: Analysis by region: France
Analysis by region: France (€ million) H1 2022 H1 2021 Change Change (reported) (at constant scope and exchange rates) Sales 606 562 +7.9% +5.1% EBITDA 80 104 -22.5% -23.8% France § France sales moved higher § Cement, operational sales up +7% § Despite small reduction in demand from § Sharp rise in
Slide 10: Analysis by region: Europe
Analysis by region: Europe (€ million) H1 2022 H1 2021 Change Change (reported) (at constant scope and exchange rates) Sales 184 203 -9.6% +5.7% EBITDA 41 39 +6.1% +5.8% Europe: SWITZERLAND ITALY Switzerland and Italy § Consolidated sales rise +39% § Consolidated sales up +4%, EBITDA up +2% § Strong
Slide 11: Analysis by region: Americas
Analysis by region: Americas (€ million) H1 2022 H1 2021 Change Change (reported) (at constant scope and exchange rates) Sales 401 319 +25.8% +12.1% EBITDA 55 70 -22.1% -30.7% Americas: UNITED-STATES BRAZIL United States and § Sector environment remained favourable § Consolidated sales at €128 milli
Slide 12: Analysis by region: Asia
Analysis by region: Asia (€ million) H1 2022 H1 2021 Change Change (reported) (at constant scope and exchange rates) Sales 249 206 +20.7% +14.0% EBITDA 52 58 -9.6% -14.4% Asia: INDIA KAZAKHSTAN India and Kazakhstan § Sales at €214 million, up +14.0% § Sales at €35 million, up +14% § Consistently sol
Slide 13: Analysis by region: Mediterranean
Analysis by region: Mediterranean (€ million) H1 2022 H1 2021 Change Change (reported) (at constant scope and exchange rates) Sales 145 103 +41.4% +113.9% EBITDA 16 -6 n.s n.s Mediterranean: TURKEY EGYPT Turkey and Egypt § § With strong increase in selling prices, sales Consolidated sales totalled €
Slide 14: Analysis by region: Africa
Analysis by region: Africa (€ million) H1 2022 H1 2021 Change Change (reported) (at constant scope and exchange rates) Sales 170 167 +1.7% +1.1% EBITDA 24 35 -32.7% -33.4% Africa: Senegal, Mali and § Dynamic sector environment despite § In Senegal, the Aggregates business, the knock-on effects of th
Slide 15: Agenda: Balance sheet and cash flow items
Highlights 2022 Half-year results Analysis by geographical region Ø Balance sheet and cash flow items Recent events 2022 Outlook Lorem ipsum dolor sit amet 15 2022 Half-year results
Slide 16: Financial position at June 2022
Financial position at 30 June 2022 § At 30 June 2022, the Group’s financial § Net financial debt stood at €1,671 million structure remained solid, with a large § €120 million rise in the increase of working rise in equity and net debt under capital requirement compared with that of control the first
Slide 17: CAPEX and Free Cash Flow
CAPEX and Free Cash Flow § Disbursed industrial capital § Free cash flow was -€202.6 million, expenditure totalled €178 million in versus -€52.5 million in the first half the first six months of 2022 of 2021 § The new kiln at the Ragland plant § Reduction stems from the large accounted for a signifi
Slide 18: Agenda: Recent events
Highlights 2022 Half-year results Analysis by geographical region Balance sheet and cash flow items Ø Recent events 2022 Outlook 18 2022 Half-year results
Slide 19: Recent events
Recent events Start-up of the Ragland plant’s new kiln in the United States § The construction of a new 5,000-tonne/day kiln at the Ragland plant in Alabama, which began in 2019, completed in Q2 2022 § The commissioning of this new production facility required a period of fine-tuning and adjustment
Slide 20: Recent events (2): CARAT zero carbon binder
Recent events (2) Further developments in the development of “CARAT”, the 1st zero carbon binder § « CARAT », the first carbon-negative binder, will § Vicat’s innovation team has developed cement enrich Vicat’s DECA range of low-carbon products with two key ingredients: solutions, raising the prospe
Slide 21: Agenda: 2022 Outlook
Highlights 2022 Half-year results Analysis by geographical region Balance sheet and cash flow items Recent events Ø 2022 Outlook 21 2022 Half-year results
Slide 22: 2022 outlook (1)
2022 outlook (1) In 2022, the Group anticipates a strong increase in its sales underpinned by an increase in its activity levels and a sharp progression in selling prices. EBITDA generated by the Group in 2022 is likely to grow, but not by as much as in 2021. In light of these factors, the Group exp
Slide 23: 2022 outlook (2)
2022 outlook (2) The following key trends are anticipated in the During the second half of 2022, the Group will keep second half of 2022: up its investment drive, focusing chiefly on: • a less unfavourable basis for comparison, especially for • the start of construction work on the new kiln (Kiln 6)
Slide 24: Build together, live together
Build togeth er, live together
Slide 25: Questions
QUESTIONS Build together, live together