Compagnie D'entreprises Cfe Sa · EURONEXT:CFEB

Compagnie D'entreprises Cfe Sa — CFE — FY2014 Earnings Presentation

42 slides from Compagnie D'entreprises Cfe Sa's earnings presentation, Feb 27, 2015

1. Slide 1: Annual results 2014

   Doha (Qatar) Annual results 2014 www.cfe.be

2. Slide 2: Headlines 2014

   Headlines 2014 Turnover increases with 4.9%(*) reaching € 3.511 million, resulting mainly from the growth with 2.5% in the dredging division and with 10.5% in the contracting divisions EBIT increases with 44.5%(*) reaching € 241 million  dredging division outperformed expectations thanks to:  a go

3. Slide 3: Headlines 2014 - Guidance

   Headlines 2014 Guidance  Outlooks in the dredging division remain favorable  Recovery in contracting activities is expected to continue in 2015 3 www.cfe.be

4. Slide 4: Key figures - consolidated

   Key figures ‐ consolidated Key financials 2014 1HY14 2HY14 2013 1HY13 2HY13 (in million EUR) Pro-forma (***) Pro-forma (***) Pro-forma (***) Revenues 3,510.5 1,773.5 1,737.0 3,346.1 1,578.3 1,767.8 Growth rate 4.9% 12.4% -1.7% - - - EBITDA 479.5 206.3 273.2 460.9 191.4 269.5 EBITDA margin 13.7% 11.6

5. Slide 5: CFE: a multidisciplinary contractor

   CFE : a multidisciplinary contractor Expressed in % of revenues Real Estate and Contracting activity Management services PPP-Concessions  Real estate development Construction  Specific associated services:  19% stake in PPP Schulen Eupen - Project management  45% stake in Rent-A-Port, Rent-A- 

6. Slide 6: Key facts 2014 January

   Key facts 2014 January  CFE invests € 20 million Euro over a period of 38 years in the PPP project Liefkenshoek rail tunnel. 6 www.cfe.be

7. Slide 7: Key facts 2014 February

   Key facts 2014 February  VMA strengthens its position in the automotive industry by gaining new significant contracts for Audi in Mexico.  Additional contracts have been obtained during the first half year of 2014 with other car manufacturers including Jaguar and Land Rover. 7 www.cfe.be

8. Slide 8: Key facts 2014 April

   Key facts 2014 April  BPC Brabant wins the contract for constructing a new commercial gallery (‘Docks Bruxsel’). This project includes 40,000m² of commercial space, leasure areas, 7,000m² office space and 1,700 parking spaces Construction works started in March. 8 www.cfe.be

9. Slide 9: Key facts 2014 April

   Key facts 2014 April  The shares of VM Office, the entity owning the office space (5,300 m²) in the Belview real estate project located in the EU area in Brussels have been sold to a German investor. This building was delivered by BPC in March 2014. Office space has already been rented to the Japan

10. Slide 10: Key facts 2014 April/May

    Key facts 2014 April/May  In Russia, a contract was signed between the Russian construction company OJSC ‘USK MOST’ and DEME’s Russian subsidiary MORDRAGA for the construction of the approach channel and harbour basin of the service port of the new LNG terminal in Yamal Peninsula (Gulf of Ob, Siber

11. Slide 11: Key facts 2014 June/July

    Key facts 2014 June/July  CLI in partnership with two other Belgian real estate developers sells the company that owns ‘Galerie Kons’ project in Luxembourg to AXA BELGIUM.  The transfer of the company is subject to the delivery and acceptance of the building; this is scheduled for the second half

12. Slide 12: Key facts 2014 June/July

    Key facts 2014 June/July  GeoSea has finalized the installation of 77 foundations on the DONG Energy Borkum Riffgrund 1 offshore wind farm. The installation works, including transport from the fabrication yard to the marshalling harbor, have proceeded in record times and finished ahead of schedule.

13. Slide 13: Key facts 2014 September

    Key facts 2014 September  DEME starts with the extension of its main office in Zwijndrecht. The new office building (5,600 m²) will be built by MBG and will provide space for 250 new highly specialised employees. The reason for these expansions is the strong growth of the group. The increasing comp

14. Slide 14: Key facts 2014 October

    Key facts 2014 October  DEME’s marine engineering specialist GeoSea acquires offshore assets of HOCHTIEF, one of Germany’s leading international construction groups. HOCHTIEF is selling offshore assets to marine contractor and long-term partner GeoSea. GeoSea is now acquiring full ownership of the

15. Slide 15: Key facts 2014 October

    Key facts 2014 October  The consortium Dredging International NV - Great Lakes Dredge & Dock Company, LLC has been awarded the assignment to deepen and widen the western branch of the Suez Canal at Great Bitter Lake, Deversoir Reach and Kabreet Reach (lot number 6). Dredging International is leader

16. Slide 16: Key facts 2014 November

    Key facts 2014 November  Official opening of the new Police Headquarters in Charleroi in the presence, among others, of architects Jean Nouvel and MDW Architecture. This PPP project was delivered to the great customer satisfaction. 16 www.cfe.be

17. Slide 17: Key facts 2014 December

    Key facts 2014 December  As part of the refocusing of its activities, CFE entered into an agreement with ASWEBO, the road construction subsidiary of the Willemen Group, concerning the transfer of 100% of the shares of Aannemingen Van Wellen NV. The transaction was completed on February 25, 2015. Th

18. Slide 18: Key facts 2014 December

    Key facts 2014 December  CFE signed an agreement, together with its partners UNIBAIL-RODAMCO and BESIX, for the project NEO Phase 1 with the City of Brussels. NEO Phase 1 is a mixed-use project encompassing 590 housing units, 2 day nurseries, 3,500 m² of offices, a retirement home and a 72,000 m² a

19. Slide 19: Key facts January 2015

    Key facts January 2015:  The Board of Directors of CFE has decided to create a Contracting division under CFE, which will ultimately include all the construction, multitechnics and rail activities. A similar centralisation process will also be applied to the real estate development activities, whic

20. Slide 20: Key facts February 2015

    Key facts February 2015:  In the beginning of 2015, DEME secured a number of new contracts worldwide for a total value of approximately € 1,600 million, including mainly : In Singapore, the Tuas Terminal Phase 1 Reclamation, Wharf Construction and Dredging Project, consisting in the construction of

21. Slide 21: An eye on the divisions

    An eye on the divisions Dredging & environmental division Contracting division Real estate division PPP – Concessions division 21 www.cfe.be

22. Slide 22: Dredging & environmental division

    Wheatstone (Australia) Dredging & environmental division www.cfe.be

23. Slide 23: Dredging & environmental division

    Dredging & environmental division Order book remains strong: € 2,420 million compared Figures of DEME at 100% (***) with € 3,049 million at YE2013. Despite the high level of activity, DEME managed to maintain its order book at a Key financials (€m) 2013 2H13 1H14 2H14 2014 high level thanks to new o

24. Slide 24: DEME Worldwide activities

    Dredging & environmental division : DEME Worldwide activities Well balanced worldwide activity spread Share of Capital dredging increases Level of Marine works remains high 2013 2014 Marine works, DBM, GeoSea, Scaldis Marine works, DBM, 18% GeoSea, Scaldis 23% Environmental activities 7% Environment

25. Slide 25: DEME Worldwide activities by region

    Dredging & environmental division : DEME Worldwide activities Well balanced worldwide region spread Share of activities in Europe and in Australia remains high Share of activities in Africa and Europe non EU increases (impact of Russia) 2013 2014 Europe non Europe non EU Middle East EU 2% 8% India,

26. Slide 26: DEME Worldwide order book

    Dredging & environmental division : DEME Worldwide order book Well balanced worldwide activity spread of the order book December 2013 December 2014 Other Other 17% 21% Environmental 11% Environmental 9% Oil & gas 4% Dredging Oil & gas 63% 7% Dredging 68% 26 www.cfe.be

27. Slide 27: Dredging & environmental division CAPEX

    Dredging & environmental division CAPEX In million Euro 1.978 2.200 2.000 1.812 1.713 1.800 1.600 1.344 1.400 1.200 972 1.000 800 567 600 277 405 372 369 400 290 165 200 99 0 2008 2009 2010 2011 2012 2013 2014 Capex Capex cumul since 2008  DEME completed its ambitious investment programme which sta

28. Slide 28: Contracting division

    Project Chambon in Brussels (BPC Brabant) Toison d’Or (Brussels) Contracting division www.cfe.be

29. Slide 29: Contracting division

    Contracting division The order book decreased with -14% amounting to € 1,127 Key financials million EUR 2013 (*) 2H13 (*) 1H14 2H14 2014 (€m)  Orders in civil engineering segment keep slowing down. Revenues 971.0 511.5 564.6 508.7 1,073.3  After a strong growth in 2013 (+21%), the order book in th

30. Slide 30: Real Estate division

    Project Calvoet (Brussels) Wola Tarasy (Poland) Real Estate division www.cfe.be

31. Slide 31: Real Estate division

    Real Estate division 2H13 Key financials (€m) 2013 (*) (*) 1H14 2H14 2014 Revenues 18.8 15.1 3.9 41.7 45.6 Real Estate activity remains mainly focussed on EBIT (**) 3.7 2.4 0.7 6.4 7.1 residential projects, a market that remained steady Net result 1.8 1.8 (0.1) 4.4 4.3 during 2014. Capital employed

32. Slide 32: Real Estate division - Breakdown of capital employed

    Real Estate division Breakdown of capital employed 2013 - 1HY 2014 2013 (*) 2014 Unsold units, post Unsold units, post construction construction delivery delivery 12% 12% Design & Design & Development Development 46% 49% Construction 39% Construction 42% (*) Restated figures after impact of IFRS 11

33. Slide 33: PPP-Concessions division

    Coentunnel Coentunnel (Amsterdam (NL) PPP‐Concessions division www.cfe.be

34. Slide 34: PPP-Concessions division

    PPP‐Concessions division Key financials (€m) 2013(*) 2H13 (*) 1H14 2H14 2014 Revenues 0.7 0.1 0.3 0.5 0.8 EBIT (**) 0.7 (1.4) (1.2) 3.7 2.5 Net result 0.9 (1.2) 0.0 2.2 2.2 (*) Restated figures after impact of IFRS 11 (**) Including the share in the result of associated companies Net result reaches

35. Slide 35: GROUP CFE Synthesis

    Synthesis GROUP CFE www.cfe.be

36. Slide 36: Order book evolution

    Order book evolution 5.000 4.500 4.000 3.500 3.000 3.317 3.049 (€m) 2.500 2.420 2.000 1.659 1.202 1.500 1.061 968 29 8 14 14 16 1.000 9,4 17 1.172 1.196 1.196 1.310 1.127 500 954 954 0 2009 2010 2011 2012 (DEME at 2012 (DEME at 2013 (DEME at 2014 50%) 100%) 100%) Contracting Real Estate and manageme

37. Slide 37: Recurring operational result (EBIT) segment breakdown

    Recurring operational result (EBIT) Segment breakdown 300 2 250 7 1 200 4 (in € million) 150 PPP- Concessions division 249 Real Estate division 100 207 Contracting division Dredging & environmental division 50 0 ‐29 ‐8 -50 2013 Pro-forma (*) 2014 (*) Pro forma figures considering 100% of the result

38. Slide 38: Statement of financial position - consolidated

    Statement of financial position‐consolidated Key financials (€m) 2013 (3) 2014 Non-current assets 2,248.9 2,183.5 Current assets 1,766.6 2,032.0 Total assets 4,015.5 4,215.5 Shareholders equity 1,201.2 1,320.9 Non-current liabilities 1,025.2 1,000.1 Current liabilities 1,789.1 1,894.5 Total equity a

39. Slide 39: Net financial debt evolution

    Net financial debt evolution 0 -29 -60 -63 -54 -137 (100) -127 (200) -7 (300) -533 -416 (400) -742 (€m) -711 (500) -9 -9 (600) -9 (700) -10 (800) (900) 2012 (*) 2013 2013 Restated (**) 1HY 2014 2014 CFE excl. DEME DEME Accrued interests PPA DEME (*) Including 100% of the NFD of DEME (**) After impac

40. Slide 40: Shareholders and share performance

    Shareholders and share performance Share price performance: Shareholders : AvH : 60.40% 1M 3M 12M VINCI : 12.11% CFE +10.92% +8.08% +47.95% Free float : 27.49% No of shares: 25,314,482 Share price (25-Feb-15) : 95.65 EUR Market Cap (25-Feb-15) : 2,421,330 KEUR 40 www.cfe.be

41. Slide 41: Shareholders agenda

    Shareholders agenda February 27, 2015 (before stock exchange) Publication annual results 2014 May 7, 2015 Ordinary Shareholders’ meeting May 20, 2015 Intermediary publication Q1 August 28, 2015 Publication of half year results 2015 November 20, 2015 Intermediary publication Q3 41 www.cfe.be

42. Slide 42: Building the future together

    Building the future together www.cfe.be

CFE — FY2014 Earnings Presentation on 6ix