Institutional Investors Meeting. Milan February 10, 2010

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Transcription:

Institutional Investors Meeting Milan February 10, 2010

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

Volumes Cement (m ton) Ready-mix concrete (m m3) 31.9 32.2 33.3 34.1 32.1 17.1 17.0 16.5 15.6 15.2 25.5 13.9 9.0 9.8 13.6 14.1 2002 2003 2004* 2005 2006 2007 2008 2009 2002 2003 2004* 2005 2006 2007 2008 2009 * First time consolidation of Dyckerhoff pag 2

Cement volumes and prices -24.2-4.5 U.S. RUSSIA -40.4-28.1-0.7 MEX +3.2 LUX -8.3 +4.8 GERMANY -13.3 +7.0 POLAND -10.1-1.2 CZ. REP. -23.9 +0.6 UKRAINE -44.6-4.3 % FY09/FY08 Volumes % FY09/FY08 Prices in local currency ITALY -16.4-6.0 pag 3

Cement prices by country 129 Ukraine Germany 113 108 107 104 104 103 96 89 Luxembourg Mexico Poland Czech Rep. Russia Italy USA In local currency pag 4

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

FX changes 2009 2008 EUR 1 = avg. avg. % USD 1.39 1.47 + 5.2 MXN 18.80 16.29-15.4 CZK 26.43 24.95-6.0 PLN 4.33 3.51-23.2 UAH 11.13 7.69-44.8 RUB 44.14 36.42-21.2 pag 6

Net sales by country 2009 2008 Forex Scope l-f-l EURm abs % abs abs % Italy 707 850 (144) -16.9-7 -17.7 United States of America 613 750 (137) -18.3 32 36-27.0 Germany 528 595 (67) -11.2-1 -11.3 Luxembourg 83 89 (6) -7.1 - - -7.1 Netherlands 113 133 (20) -15.2 - (5) -12.0 Czech Republic/Slovakia 176 261 (85) -32.6 (8) - -28.6 Poland 121 184 (63) -34.1 (28) - -18.8 Ukraine 75 209 (134) -64.0 (34) - -47.9 Russia 99 267 (168) -63.0 (21) - -55.2 Mexico 180 205 (25) -12.1 (29) - +1.5 Eliminations (23) (23) 0.0 Total 2,672 3,520 (848) -24.1 (87) 38-22.8 pag 7

Headcount by country 2009 2008 abs Italy 2,041 2,071-30 United States of America 2,327 2,440-113 Germany 1,647 1,653-6 Luxembourg 152 150 +2 Netherlands 296 297-1 Czech Republic/Slovakia 914 936-22 Poland 423 419 +4 Ukraine 1,672 1,782-110 Russia 1,279 1,549-270 Mexico (50%) 527 548-21 Total 11,278 11,845-567 pag 8

Company profile & strategies pag 9

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

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

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

Group exposure to emerging markets 3,520 915 Emerging Markets Mature Markets 8% 14.8 92% 38.5 38.7 27% 27% 73% 73% 39.8 27% 73% 2,772 2,672 16% 32% 711 84% 68% 24% 20% 76% 80% 1,334 415 9% 16% 91% 84% 49% 51% n.a. 7% 160 204 27% 84% 80% 667 29% 51% n.a. 2000 2004* 2008 2009 2000 2004* 2008 2009 2000 2004* 2008 2009 2000 2004* 2008 2009 PRODUCTION CAPACITY m/ton REVENUES m EBITDA rec. m CAPEX m * First time consolidation of Dyckerhoff pag 13

Roll-out of additional capacity by project 2009 2010 2011 2012 2013 2014 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-09 0.6 1.0 0.1 0.1 0.4 0.4 0.4 1.8 ONGOING RUS Suchoi Log (1) MEX Apazapán 2Q10 4Q10 0.5 0.4 0.5 0.3 1.2 0.7 POSTPONED RUS Akbulak GER Amöneburg UKR Volyn 2 (brownfield) tbd tbd tbd 2.2 1.2 0.9 Total 0.7 1.1 1.1 1.0 0.7 6.7 2.7 (1) The new kiln will initially replace existing capacity and run close to full capacity from commissioning date. pag 14