Cementir Holding N.v. · MIL:CEM
Cementir — Q1 2019 Earnings Presentation
11 slides from Cementir's earnings presentation, May 9, 2019
Slide 1: Cementir Holding Group 2019 First Quarter results
Cementir Holding Group 2019 First Quarter results May 9th, 2019 Conference call | Rome, 9 May 2019
Slide 2: 2019 First Quarter results highlights
2019 First Quarter results highlights Revenue rose by 9.1% to 264.4 M€ including 33 M€ from LWCC consolidation ▪ Like-for-like Revenue declined by 4.5% due to TRY devaluation and difficult trading in Turkey ▪ At constant FX, revenue would have been 268.1M€ (+1.4%) EBITDA increased by 39.7% to 33.7 M
Slide 3: Nordic & Baltic
Nordic & Baltic • Denmark 45% 49% ▪ Domestic grey cement volumes up thanks to higher activity, mild weather ▪ Cement exports mixed (white volumes up, grey volumes Share of Share of down) Group Revenue Group Ebitda ▪ Ready-mix concrete volumes flat Q1 2019 Q1 2019 ▪ EBITDA positively impacted by oper
Slide 4: Belgium and France
Belgium and France (1) • Belgium / France 21% ▪ Belgian volumes +7% thanks to mild weather and strong sales 23% in The Netherlands, with prices moderately up Share of Share of ▪ Ready-mixed concrete volumes down due to selective market Group Revenue Group Ebitda positioning and strong competition Q1
Slide 5: North America
North America 9% 13% • United States − Volumes sold reached 154kt in the quarter, revenues 33.2M€ and EBITDA 3.7M€ Share of Share of − Like-for-Like comps are meaningless as LWCC was Group Revenue Group Ebitda consolidated from Q2 2018 onwards Q1 2019 Q1 2019 − Other Group subsidiaries produce concr
Slide 6: Turkey and Egypt
Turkey and Egypt • Turkey -8% ▪ Cement volumes dropped by -50% due to domestic 10% recession induced by the currency in H2 2018. Domestic cement prices flat despite 30% inflation rate ▪ RMC revenue in local currency declined by 43%, with Share of Share of volumes down -50% Group Revenue Group Ebitda
Slide 7: Asia Pacific
Asia Pacific 6% 8% • China ▪ Revenue in local currency are up 6% with both volumes and prices up ▪ EBITDA flat as operating leverage compensated by higher input costs for fuels and raw materials Share of Share of Group Revenue Group Ebitda Q1 2019 Q1 2019 • Malaysia ▪ Domestic white cement volumes a
Slide 8: Consolidated income statement
Consolidated income statement (EUR million) Q1 2019 Q1 2018 Chg % REV EN U E F ROM SA LES A N D SERV ICES 264.4 242.3 9.1% Change in inventories 2.9 4.1 (28.5%) Other revenue 4.4 5.8 (25.5%) TOTA L OPERA TIN G REV EN U E 271.7 252.2 7.7% Raw materials costs (105.5) (102.9) 2.5% Personnel costs (47.5
Slide 9: 2019 Guidance and IFRS 16 impact
2019 Guidance and IFRS 16 impact EUR million • 2019 Revenues to reach ~ Eur 1.25 BN 255 • 2019 EBITDA ~ Eur 250-260 M 245 Including Eur 23 M of IFRS 16 impact 235 225 • 2019 NFP around Eur 245 M Including ~ Eur 80 M of IFRS 16 impact 215 • 2019 Capex ~ Eur 70 M EBITDA NFP Net Financial Position / Eb
Slide 10: IFRS 16 Impact on 2019 main figures
IFRS 16 Impact on 2019 main figures − Cementir will adopt the IFRS 16 - standard from 2019 onwards, with impacts on the financial statements EBITDA 23 M€ − The present value of the future operating lease payments will be recognized as right-of-use-assets and interest bearing liabilities in the balan
Slide 11: Disclaimer and Other information
Disclaimer and Other information •This presentation has been prepared by and is the sole responsibility of Cementir Holding S.p.A. (the Investor Relations: “Company”) for the sole purpose described herein. In no case may it or any other statement (oral or otherwise) made at any time in connection he