Slide 1: First Quarter Results 2015
a olcim FIRST QUARTER RESULTS 2015
Slide 2: 3M 2015 Milestones
3M 2015 Milestones • Like-for-like operating profit adjusted1 increases by 2.2% and the operating profit margin adjusted1 improves to 7.7% • Group cement pricing up 4% led by Latin America, North America and Asia Pacific • Holcim Leadership Journey contribution of CHF 85 million • Cement volumes up
Slide 3: Key financial figures
Key financial figures Million CHF Full year 1st Quarter +/- (if not otherwise stated) 2014 2014 2015 LFL CIS FX Total Sales volumes - Cement (mt) 140.3 33.0 31.2 -5.7% 0.2% -5.5% - Aggregates (mt) 153.1 29.2 29.5 -4.0% 5.2% 1.2% - Ready-mix (mm3) 37.0 8.2 8.0 -5.8% 3.8% -2.0% Net sales 19,110 4,088
Slide 4: Cement – Sales volumes by region
Cement – Sales volumes by region Million t Total Group 2013 32.1 2014 33.0 4.4 5.2 4.7 2015 31.2 18.6 18.5 2.0 2.0 2.1 17.1 1.8 2.0 1.8 5.9 6.0 5.9 ∆ Q1 14 / Q1 15 LFL Change in Total structure Asia Pacific -7.3% 0.0% -7.3% 1 Latin America -1.4% 0.0% -1.4% Europe -10.7% 1.1% -9.6% North America 4.3%
Slide 5: Aggregates – Sales volumes by region
Aggregates – Sales volumes by region Million t Total Group 17.4 15.7 14.4 2013 28.6 2014 29.2 2015 29.5 5.2 5.0 5.4 5.8 6.0 5.3 0.5 0.4 0.3 ∆ Q1 14 / Q1 15 LFL Change in Total 2.7 2.1 structure 1.2 Asia Pacific -12.5% 0.0% -12.5% Latin America -43.8% 0.0% -43.8% Europe 1.3% 9.7% 10.9% North America
Slide 6: Ready-mix concrete and asphalt – Sales volumes by region
Ready-mix concrete and asphalt – Sales volumes by region Million m3/t Total Ready-mix 2.7 2.8 2013 8.4 2.3 2014 8.2 1.3 1.4 1.0 2015 8.0 1.3 1.2 1.0 0.1 0.1 0.2 2.5 2.5 2.5 0.2 0.2 0.1 2.1 1.7 1.5 ∆ Q1 14 / Q1 15 * LFL Change in Total structure Asia Pacific 0.7% 0.0% 0.7% Latin America -8.1% 0.0% -8
Slide 7: Exchange rates
Exchange rates Statement of income Q1 13 Q1 14 Q1 15 +/- average exchange rates in CHF 1 EUR 1.23 1.22 1.07 -12.2% 1 GBP 1.44 1.48 1.44 -2.3% 1 USD 0.93 0.89 0.95 6.8% 1 LATAM Basket (MXN, BRL, ARS, CLP) 1 1.23 1.00 0.93 -7.4% 1 Asian Basket (AUD, IDR, INR, PHP) 1 1.20 1.00 1.02 1.8% Statement of fi
Slide 8: Foreign exchange rate impact
Foreign exchange rate impact Million CHF Net sales impact Operating EBITDA impact 0.4% 0.6% 1.0% 0.3% 0.5% 15 6 19 6 6 -19 -68 -75 -86 -35 -90 -90 -96 -132 -3.1% -2.7% -5.7% -9.3% -1.9% -13.2% -8.2% -2.2% -2.5% -355 -369 -6.2% -7.0% -465 -452 -10.8% -8.5% Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4
Slide 9: Net sales
Net sales Million CHF 4,323 4,088 3,972 Like-for-Like (LFL) -198 -4.3% 338 7.8% -67 -1.6% Change in structure -50 -1.1% -108 -2.5% 40 1.0% Forex movements -90 -1.9% -465 -10.7% -90 -2.2% Total change -338 -7.2% -234 -5.4% -116 -2.8% Q1 13 Q1 14 Q1 15 © 2015 Holcim Ltd 9
Slide 10: Net sales by region
Net sales by region Million CHF Q1 2013 Q1 2014 1032 1184 1097 Q1 2015 441 444 496 1984 1683 1656 203 206 168 827 723 707 ∆ Q1 14 / Q1 15 LFL Change in Currency Total structure Asia Pacific -3.9% 0.0% 2.3% -1.6% Latin America 2.3% -0.2% -4.4% -2.3% Europe -3.1% 3.8% -8.0% -7.3% North America 9.3% -0
Slide 11: Operating EBITDA
Operating EBITDA Million CHF Margin 1 16.0% 15.0% 15.1% 14.9% 650 617 593 Like-for-Like (LFL) -44 -6.1% 66 10.1% -25 -4.0% Change in structure -5 -0.8% -13 -2.0% -6 -0.9% Forex movements -19 -2.7% -86 -13.3% 6 1.0% Total change -68 -9.5% -33 -5.1% -24 -3.9% Q1 13 Q1 14 Q1 15 1 excluding merger costs
Slide 12: Operating EBITDA by region
Operating EBITDA by region Million CHF Q1 2013 Q1 2014 Q1 2015 99 79 29 -10 -4 397 -18 357 327 62 67 45 246 231 211 ∆ Q1 14 / Q1 15 LFL Change in Currency Total structure Asia Pacific 5.8% 0.0% 3.3% 9.0% Latin America 12.6% -0.4% -2.2% 10.0% Europe -12.3% -8.1% 0.5% -19.9% North America -2.5% 33.8%
Slide 13: Operating profit
Operating profit Million CHF Margin 1 7.7% 7.2% 6.6% 6.2% 295 270 261 Like-for-Like (LFL) -40 12.2% 77 28.4% -38 -12.7% Change in structure -3 -0.8% 5 1.9% -14 -4.8% Forex movements -16 -4.8% -57 -20.9% 18 6.0% Total change -58 -17.8% 25 9.3% -34 -11.5% Q1 13 Q1 14 Q1 15 1 Excluding merger costs of
Slide 14: Operating profit bridge
Operating profit bridge Million CHF 130 28 1) 32 295 74 3 2) 30 18 261 14 Op Profit Volume Price Fixed Variable CO2 Other CIS FX Op Profit 3M 2014 Costs Costs 3M 2015 1 Including merger costs of CHF 44 million 2 Mainly inventory movements and higher depreciation (Indonesia, New Zealand, Ecuador) © 2
Slide 15: Operating profit by region
Operating profit by region Million CHF Q1 2013 1 Q1 2014 Q1 2015 -9 -27 -94 -87 -71 -71 280 257 234 48 54 32 192 167 187 ∆ Q1 14 / Q1 15 LFL Change in Currency Total structure Asia Pacific 5.8% 0.0% 4.0% 9.8% Latin America 14.1% -0.4% -1.5% 12.1% Europe -160.6% -192.1% 154.9% -197.8% North America -
Slide 16: Net income
Net income Million CHF Net income Net income - shareholders of Holcim Ltd 378 310 295 187 179 164.1% -39.5% 111.8% 289.3% 1773.1% 80 -57.5% Q1 13 Q1 14 Q1 15 © 2015 Holcim Ltd 16
Slide 17: Cash flow from operating activities
Cash flow from operating activities Million CHF Margin -5.4% -5.9% -7.5% -323 -243 -214 Like-for-Like (LFL) 184 36.8% 91 28.2% 39 16.1% Change in structure -5 -1.0% -19 -6.0% -26 -10.5% Forex movements -3 -0.7% 9 2.7% 16 6.5% Total change 175 35.2% 80 24.9% 29 12.1% Q1 13 Q1 14 Q1 15 © 2015 Holcim L
Slide 18: Statement of cash flows
Statement of cash flows Full year 1st Quarter Million CHF +/- 2014 2014 2015 Cash flow from operating activities 2,498 -243 -214 12.1% Net investments to maintain productive -738 -88 -101 -15.4% capacity and to secure competitiveness Free cash flow 1,760 -331 -315 4.8% Expansion investments -1'020 -
Slide 19: Financial position
Financial position Million CHF Net financial debt Total shareholders' equity 20,112 19,058 18,837 10,040 9,644 9,670 31.3.2014 31.12.2014 31.3.2015 © 2015 Holcim Ltd 19
Slide 20: Financial debt, maturities and liquidity
Financial debt, maturities and liquidity as of March 31, 2015 Maturity profile1 (mCHF) Liquidity summary • Cash + marketable securities: CHF 1,732 million 4'000 • Cash + marketable securities + unused committed credit Loans Capital markets lines: CHF 5,200 million Debt summary 3'000 • Current financ
Slide 21: Outlook for 2015
Outlook for 2015 • Holcim expects cement volumes to increase in all Group regions in 2015 with the exception of Europe • Aggregate and ready-mix concrete volumes are expected to increase • On a stand-alone basis and unconnected to the proposed merger with Lafarge, the Board of Directors and Executiv
Slide 22: Cost and capex guidance for 2015
Cost and capex guidance for 2015 • Energy costs per tonne of cement produced flat to slightly lower compared to 2014 level • Average interest rate unchanged at 4.7 percent • Long term expected tax rate of 27 percent • Maintenance capex of CHF 0.9 billion net • Expansion capex of CHF 0.6 billion • Me
Slide 23: Asia Pacific – regional overview
Asia Pacific – regional overview Million CHF 1st Quarter +/- (if not otherwise stated) 2014 2015 LFL CIS FX Total Cement volumes (mt) 18.5 17.1 -7.3% 0.0% -7.3% - of which mature markets 0.6 0.6 -0.8% 0.0% -0.8% - of which emerging markets 17.9 16.5 -7.6% 0.0% -7.6% Aggregates volumes (mt) 6.0 5.3 -
Slide 24: Latin America – regional overview
Latin America – regional overview Million CHF 1st Quarter +/- (if not otherwise stated) 2014 2015 LFL CIS FX Total Cement volumes (mt) 6.0 5.9 -1.4% 0.0% -1.4% Aggregates volumes (mt) 2.1 1.2 -43.8% 0.0% -43.8% 3 Ready-mix volumes (mm ) 1.7 1.5 -8.1% 0.0% -8.1% Net sales 723 707 2.3% -0.2% -4.4% -2.
Slide 25: Europe – regional overview
Europe – regional overview Million CHF 1st Quarter +/- (if not otherwise stated) 2014 2015 LFL CIS FX Total Cement volumes (mt) 5.2 4.7 -10.7% 1.1% -9.6% - of which mature markets 3.4 3.0 -19.3% 9.1% -10.2% - of which emerging markets 1.9 1.7 1.5% -10.1% -8.6% Aggregates volumes (mt) 15.7 17.4 1.3%
Slide 26: North America – regional overview
North America – regional overview Million CHF 1st Quarter +/- (if not otherwise stated) 2014 2015 LFL CIS FX Total Cement volumes (mt) 2.0 2.1 4.3% 0.0% 4.3% Aggregates volumes (mt) 5.0 5.4 8.9% 0.0% 8.9% 3 Ready-mix volumes (mm ) 1.2 1.0 -9.4% -2.7% -12.2% Net sales 444 496 9.3% -0.8% 3.3% 11.8% Op
Slide 27: Africa Middle East – regional overview
Africa Middle East – regional overview Million CHF 1st Quarter +/- (if not otherwise stated) 2014 2015 LFL CIS FX Total Cement volumes (mt) 2.0 1.8 -8.0% 0.0% -8.0% Aggregates volumes (mt) 0.4 0.3 -38.4% 0.0% -38.4% 3 Ready-mix volumes (mm ) 0.2 0.1 -30.5% 0.0% -30.5% Net sales 206 168 -13.5% 0.0% -
Slide 28: Cement – Price/volume variances per region
Cement – Price/volume variances per region Domestic clinker and Domestic cement prices cement volumes ∆ Q1 14 / Q1 15 * ∆ Q1 14 / Q1 15 Asia Pacific 1 4.9% -7.3% India 5.2% -9.5% Sri Lanka 0.1% 4.6% Bangladesh -4.7% -14.2% Vietnam 0.5% 8.7% Malaysia 0.4% 6.6% Indonesia 2.8% -6.1% Philippines 1.0% 4.
Slide 29: Cement – Price/volume variances per region
Cement – Price/volume variances per region Domestic clinker and Domestic cement prices cement volumes ∆ Q1 14 / Q1 15 * ∆ Q1 14 / Q1 15 Latin America 1 6.2% -1.4% 3 Mexico 5.2% 8.2% El Salvador 4.4% 2 6.4% Costa Rica 10.2% -5.5% Nicaragua 2.6% 2 2.8% Colombia -1.3% 4.6% Ecuador 2.1% 2 -13.9% Brazil
Slide 30: Cement – Price/volume variances per region
Cement – Price/volume variances per region Domestic clinker and Domestic cement prices cement volumes ∆ Q1 14 / Q1 15 * ∆ Q1 14 / Q1 15 Europe 1 -0.5% -10.7% Belgium -0.9% -3.2% France -3.7% -23.0% Germany -0.6% 69.5% 2 Switzerland -3.8% -18.0% Italy -9.6% -12.1% Hungary -6.1% 0.0% Slovak Republic -
Slide 31: Cement – Price/volume variances per region
Cement – Price/volume variances per region Domestic clinker and Domestic cement prices cement volumes ∆ Q1 14 / Q1 15 * ∆ Q1 14 / Q1 15 North America 1 5.9% 4.3% Canada 2.2% -10.3% USA 8.4% 6.3% Africa Middle East 1 -4.4% -8.0% Morocco 2 5.0% -13.7% Lebanon 2 -9.7% -23.5% Réunion 1.8% 3 6.1% Ivory C
Slide 32: Aggregates – Price/volume variances per region
Aggregates – Price/volume variances per region Domestic aggregates Domestic aggregates prices volumes ∆ Q1 14 / Q1 15 * ∆ Q1 14 / Q1 15 Asia Pacific 1 -5.8% -12.5% Indonesia 3.2% -9.1% Australia -3.1% -14.8% Latin America 1 14.7% -43.8% Mexico 37.8% -80.2% Brazil -3.9% -33.8% Group 1 4.2% -4.0% * If
Slide 33: Aggregates – Price/volume variances per region
Aggregates – Price/volume variances per region Domestic aggregates Domestic aggregates prices volumes ∆ Q1 14 / Q1 15 * ∆ Q1 14 / Q1 15 Europe 1 6.3% 1.3% United Kingdom 9.2% 8.6% Belgium -1.8% -13.2% France -1.0% -11.0% Germany 44.6% 275.9% 2 Switzerland 8.5% -13.1% Italy -8.7% 38.5% Romania -8.5%
Slide 34: Contact information and event calendar
Contact information and event calendar Contact information Event calendar Corporate Communications May 8, 2015 Extraordinary General Meeting Phone +41 58 858 87 10 July 29, 2015 Half-year results for 2015 Fax +41 58 858 87 19 communications@holcim.com Investor Relations Phone +41 58 858 87 87 Fax +4
Slide 35: Disclaimer
Disclaimer Cautionary statement regarding forward-looking statements This presentation may contain certain forward-looking statements relating to the Group’s future business, development and economic performance. Such statements may be subject to a number of risks, uncertainties and other important
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