Institutional Investors Meeting. Milan February 10, 2010

Transcription

1 Institutional Investors Meeting Milan February 10, 2010

2 Executive summary Volumes Cement demand declined in all regions USA and Italy strongly negative among mature markets Russia and Ukraine the most hardly hit by economic downturn Poland best performer in Eastern Europe Mexico down 11% in Q4 after nine months of favorable variance Prices Favorable variance in Germany, Luxembourg and Mexico for the full year Italy in continuous deterioration; US drop intensifies in Q4; in Russia -28% Stable environment in Czech Republic, slight decline in Poland and Ukraine Forex Average US dollar still favorable YoY despite devaluation throughout 2009 Intense devaluation of emerging market currencies strongly affects result translation Costs Deflationary trend during the year, particularly in Italy, US and Mexico Results Net sales declining by 24.1% to m 2,672 ( m 3,520 in 2008) Net debt at m 1,212 following reduced cash flow generation and expansion capex pag 1

3 Volumes Cement (m ton) Ready-mix concrete (m m3) * * * First time consolidation of Dyckerhoff pag 2

4 Cement volumes and prices U.S. RUSSIA MEX +3.2 LUX GERMANY POLAND CZ. REP UKRAINE % FY09/FY08 Volumes % FY09/FY08 Prices in local currency ITALY pag 3

5 Cement prices by country 129 Ukraine Germany Luxembourg Mexico Poland Czech Rep. Russia Italy USA In local currency pag 4

6 Volumes breakdown Cement Ready-mix concrete 5% 5% 5% 3% 9% 24% 1% 6% 12% 6% 6% 35% 4% 19% 25% 19% 15% Italy USA Germany Luxembourg Czech Rep. Poland Ukraine Russia Mexico Netherlands pag 5

7 FX changes EUR 1 = avg. avg. % USD MXN CZK PLN UAH RUB pag 6

8 Net sales by country Forex Scope l-f-l EURm abs % abs abs % Italy (144) United States of America (137) Germany (67) Luxembourg (6) Netherlands (20) (5) Czech Republic/Slovakia (85) (8) Poland (63) (28) Ukraine (134) (34) Russia (168) (21) Mexico (25) (29) Eliminations (23) (23) 0.0 Total 2,672 3,520 (848) (87) pag 7

9 Headcount by country abs Italy 2,041 2, United States of America 2,327 2, Germany 1,647 1,653-6 Luxembourg Netherlands Czech Republic/Slovakia Poland Ukraine 1,672 1, Russia 1,279 1, Mexico (50%) Total 11,278 11, pag 8

10 Company profile & strategies pag 9

11 Buzzi Unicem at a Glance International multi-regional, heavy-side group, focused on cement, ready-mix and aggregates Dedicated management with long-term vision for the business Highly efficient, low cost producer with strong and stable cash flows Successful geographic diversification with leading positions in attractive markets Italy (# 2 cement producer, 16% market share), US (# 5 cement producer, 9% market share), Mexico (# 4 cement producer, 11% market share), Germany (# 2 cement producer, 15% market share) Significant positions in Luxembourg, The Netherlands, Poland, Czech Republic, Slovakia, Russia and Ukraine, as well as entry point in Algeria High quality and environmentally friendly assets Leading product and service offering Conservative financial profile and balanced growth strategy Value creation through lasting, experienced know-how and operating efficiency pag 10

12 Lean and direct ownership Buzzi Family Holdings Share capital 45.5% (56.7% Ord) Ordinary 165,349,149 Savings 40,711,949 Total shares 206,061,098 Free Float 54.5% Buzzi Unicem 19.8% 93.2% (98.0% Ord) (88.4% Pref) 8% Dyckerhoff As of September 09 pag 11

13 Cement plants location and capacity CEMENT PLANT GRINDING PLANT OGLESBY SELMA PRYOR MARYNEAL SAN ANTONIO STOCKERTOWN GREENCASTLE CAPE GIRARDEAU CHATTANOOGA SUCHOJ LOG m ton Italy 10.8 CERRITOS LENGERICH GESEKE United States 1 Germany 7.2 TEPETZINGO RUMELANGE DEUNA AMÖNEBURG GÖLLHEIM NOWINY RIVNE HRANICE Luxembourg 1.2 Poland 1.6 Czech Rep. 1.1 Ukraine 3.0 RIVA CADOLA TRAVESIO ROBILANTE VERNASCA SETTIMELLO SINISCOLA GUIDONIA CASERTA BARLETTA NIKOLAJEV Russia 2.4 Mexico (100%) 5.0 SOUR EL GHOZLANE HADJAR SOUD AUGUSTA Algeria (100%) 2.1 pag 12

14 Group exposure to emerging markets 3, Emerging Markets Mature Markets 8% % % 27% 73% 73% % 73% 2,772 2,672 16% 32% % 68% 24% 20% 76% 80% 1, % 16% 91% 84% 49% 51% n.a. 7% % 84% 80% % 51% n.a * * * * PRODUCTION CAPACITY m/ton REVENUES m EBITDA rec. m CAPEX m * First time consolidation of Dyckerhoff pag 13

15 Roll-out of additional capacity by project Add Replace Start-up mt mt mt mt mt mt mt mt COMPLETED USA Selma LUX Esch UKR Volyn kiln # 6 Aug-09 Oct-09 Mar ONGOING RUS Suchoi Log (1) MEX Apazapán 2Q10 4Q POSTPONED RUS Akbulak GER Amöneburg UKR Volyn 2 (brownfield) tbd tbd tbd Total (1) The new kiln will initially replace existing capacity and run close to full capacity from commissioning date. pag 14