Slide 1: H1 Results - 2023
Souillac bridge H1 Results - 2023 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 Co
Slide 3: 2023 Half-Year Results agenda
▪ Highlights ▪ 2023 half-year results ▪ Analysis by markets ▪ Financial position & FCF ▪ Climate performance ▪ 2023 Outlook Ragland - Alabama 3 2023 HALF-YEAR RESULTS
Slide 4: H1 2023 Highlights
H1H1 2023 2023 highlights Highlights +16.5% lfl YoY €314m 2.6x FY 2023 EBITDA Sales growth EBITDA ND/EBITDA now expected “appreciably above” that recorded Volume resilience Supported by ongoing Focus on debt in 2021 in cement ramp up of Ragland reduction Strong prices Favourable price-cost increase
Slide 5: Income Statement
Income Statement Change Change (€ million) H1 2023 H1 2022 (reported) (at constant scope and exchange rates) Solid organic Sales 1 912 1 755 +9.0% +16.5% growth EBITDA 314 269 +17.0% +21.6% EBITDA margin (%) 16.4% 15.3% EBITDA EBIT 166 128 +29.4% +34.4% above H1 2021 (€300m) EBIT margin (%) 8.7% 7.3
Slide 6: EBITDA evolution
EBITDA evolution Strong price increases, offsetting cumulative cost inflation of last 2 years 2023 HALF-YEAR RESULTS
Slide 7: Analysis by region: France
Analysis by region: France (€ million) H1 2023 H1 2022 Change Change (reported) (at constant scope and exchange rates) Sales 630 606 +4.0% +4.0% EBITDA 106 80 +31.7% +31.7% FRANCE ▪ Resilience in cement volumes ▪ Decline in Concrete and Aggregates due to slowdown in residential construction and road
Slide 8: Analysis by region: Europe
Analysis by region: Europe (€ million) H1 2023 H1 2022 Change Change (reported) (at constant scope and exchange rates) Sales 195 184 +6.4% +2.1% EBITDA 46 41 +11.6% +7.7% SWITZERLAND ITALY ▪ Stable lfl sales ▪ Consolidated sales rise +25% ▪ Higher volumes and prices ▪ Cement: contraction in demand,
Slide 9: Analysis by region: Americas
Analysis by region: Americas (€ million) H1 2023 H1 2022 Change Change (reported) (at constant scope and exchange rates) Sales 450 401 +12.3% +11.0% EBITDA 84 55 +52.6% +50.7% UNITED-STATES BRAZIL ▪ Industry environment broadly favourable ▪ Slowdown in economy ▪ California affected by heavy rainfall
Slide 10: Analysis by region: Asia
Analysis by region: Asia (€ million) H1 2023 H1 2022 Change Change (reported) (at constant scope and exchange rates) Sales 233 249 -6.5% -1.2% EBITDA 32 52 -39.2% -36.0% INDIA KAZAKHSTAN ▪ Price increases only partially ▪ Contraction in volumes offset the still high level of input towards the beginn
Slide 11: Analysis by region: Mediterranean
Analysis by region: Mediterranean (€ million) H1 2023 H1 2022 Change Change (reported) (at constant scope and exchange rates) Sales 196 145 +34.9% +126.0% EBITDA 21 16 +26.9% +110.0% TURKEY EGYPT ▪ Strong depreciation of Turkish lira over the ▪ Strong depreciation of Egyptian pound over the period p
Slide 12: Analysis by region: Africa
Analysis by region: Africa (€ million) H1 2023 H1 2022 Change Change (reported) (at constant scope and exchange rates) Sales 208 170 +22.2% +21.7% EBITDA 26 24 +11.0% +10.3% SENEGAL MALI MAURITANIA ▪ Positive sector trends with the sharp ▪ The Aggregates business was underpinned by recovery in the M
Slide 13: Financial position
Financial position (€ million) H1 2023 H1 2022 Gross financial debt 2,055 2,153 Focus on debt reduction Cash -463 -481 with leverage ratio Net financial debt 1,592 1,670 brought down over the EBITDA (12-months rolling) 616 588 past 12 months Leverage ratio (x) 2.59x 2.84x AVERAGE INTEREST RATE AVERA
Slide 14: CAPEX and Free cash flow
CAPEX and Free cash flow CAPITAL EXPENDITURE FREE CASH FLOW €144m €71m Down from €178m in H1 2022 Vs €(203)m in H1 2022 Including amount linked to the Increase in EBITDA Group’s strategic investments, chiefly the new kilns in Normalisation in change in Alabama and Senegal working capital requirement
Slide 15: Climate performance
Climate performance H1 2023 scope 1 CO2 emissions 591 kg net / t cement equivalent -3.6% YoY -2.8% vs Dec. 2022 ✓ in line with Vicat’s 2030 target ALTERNATIVE FUEL RATE CLINKER RATE (%) (%) +4.1% -0.5% 31,5 77,9 27,4 77,4 H1 2022 H1 2023 H1 2022 H1 2023 15 2023 HALF-YEAR RESULTS
Slide 16: Outlook FY 2023
Outlook FY 2023 Updated guidance (26/07/2023) Previous guidance (03/05/2023) SALES further significant sales growth further significant sales growth ✓ to rise towards a level to rise towards a level EBITDA appreciably above that at least equivalent to that recorded in 2021 recorded in 2021 CAPITAL T
Slide 17: Souillac bridge, France
| ; 3 Se Souillac bridge, France