Compagnie d'Entreprises CFE SA · EURONEXT:CFEB
Compagnie d'Entreprises CFE SA — CFE — FY2006 Earnings Presentation
26 slides from Compagnie d'Entreprises CFE SA's earnings presentation, Mar 7, 2007
Slide 1: Building the future together – Annual results March 2007
under embargo until Wednesday March 7, 2007 17H40 CET Building the future together Annual results March 2007
Slide 2: CFE: a leader in construction
under embargo until Wednesday March 7, 2007 - 17H40 CET CFE: a leader in construction Four cornerstones Construction Dredging and Environment Civil Engineering 50% stake in Deme Infrastructure projects - tunnels, Capital dredging bridges, roads Maintenance dredging Buildings – offices, industrial, E
Slide 3: Integrated project life cycle
under embargo until Wednesday March 7, 2007 - 17H40 CET Integrated project life cycle Thanks to its managerial and technical capabilities, CFE is ideally positioned to capture the full potential of large Design, Build, Finance and Operate (DBFO) projects under Public Private Partnershpis (PPP) Proje
Slide 4: Strategy
under embargo until Wednesday March 7, 2007 - 17H40 CET Strategy Defined targets with a strengthened financial position and an increased human resource capacity Construction - The search for new contract types - Development of the international activities Real estate & management services - Re initi
Slide 5: Strategy – Sustainable development
under embargo until Wednesday March 7, 2007 - 17H40 CET Strategy Sustainable development Social responsibility Environmental responsibility Customers and suppliers relationship Corporate governance Commitment to society 5
Slide 6: Key Milestones 2006
under embargo until Wednesday March 7, 2007 - 17H40 CET Key Milestones 2006 All segments showed Growth of revenues (+ 19%), operational (+ 26%) & net result (+ 60%) Growing order book (+ 12%) to up to more than 13 months of activity Merger between property management activities of CFE Sogesmaint and
Slide 7: Important projects
under embargo until Wednesday March 7, 2007 - 17H40 CET Important projects Name Delivered Business unit(s) involved Dexia Tower Q4 2006 Construction De Leien Q4 2006 Construction Name Delivery expected Business unit(s) involved Le Dôme (Construction phase) March 2007 Construction European Parliament
Slide 8: Important projects
under embargo until Wednesday March 7, 2007 - 17H40 CET Important projects 8
Slide 9: Important projects
under embargo until Wednesday March 7, 2007 - 17H40 CET Important projects Name Delivery expected Business unit(s) involved Arena Plaza Oktober 2007 Construction Axa Brussels April 2009 Construction RER March 2009 Construction Vortex March 2010 Construction, environmental, multitechnical Doha Airpor
Slide 10: Important projects
under embargo until Wednesday March 7, 2007 - 17H40 CET Important projects 10
Slide 11: Big projects marketed
under embargo until Wednesday March 7, 2007 - 17H40 CET Big projects marketed Name Description Estimated amount Status at 100% Antwerp ring road 10 km ring road, viaduct & tunnel > 1,5 € billion Invited to BAFO Diabolo Railway infrastructure improvement of the link > 300 € million Waiting result bef
Slide 12: Construction profile
under embargo until Wednesday March 7, 2007 - 17H40 CET Construction profile Increased result driven by MBG, BPC, Van Wellen and CFE Polska Key financials (€m) 2005 1H ’06 2H ’06 2006 Bageci and CFE Nederland still suffering low activity and some site losses Revenues 489.6 266.0 271.2 537.2 Last yea
Slide 13: Real Estate and management services profile
under embargo until Wednesday March 7, 2007 - 17H40 CET Real Estate and management services profile Increased revenues & result in 1H 2006 – impacted by sale of “Place de la Reine” and favourable outcome of the real estate Key financials (€m) 2005 1H ’06 2H ’06 2006 operation "Porte de l'Europe – To
Slide 14: Multitechnics profile
under embargo until Wednesday March 7, 2007 - 17H40 CET Multitechnics profile Strong growth and performance reflecting increased synergies Key financials (€m) 2005 1H ’06 2H ’06 2006 High growth business with strong margins Revenues 45,6 29.4 31.5 60.9 Second Voltis warehouse operational in autumn 2
Slide 15: Growth in Central Europe
under embargo until Wednesday March 7, 2007 - 17H40 CET Growth in Central Europe 2005 2006 Construction – Development – Construction – Development – Multitechnics (€552,8m) Multitechnics (€625m) Central Europe 4% Central Europe 9% Benelux Benelux 91% 96% Source: Breakdown in % of 2006, CFE 15
Slide 16: Dredging & environmental profile
under embargo until Wednesday March 7, 2007 - 17H40 CET Dredging & environmental profile Diversified order book Key financials (€m) - 2005 1H ’06 2H ’06 2006 High occupancy rate due to international cyclical upturn of the world 50% dredging market Revenues 422.6 251.7 287.0 538.7 Increased productiv
Slide 17: Worldwide activities
under embargo until Wednesday March 7, 2007 - 17H40 CET Worldwide activities Well balanced worldwide activity spread 2005 2006 Dredging (€422,6m) Dredging (€539m) Oceania Oceania 3% 2% Middle East Benelux Middle East 20% Benelux 29% 25% 30% Asia 6% Asia 8% Africa Europe (ex Europe (ex 14% Africa Ben
Slide 18: Income statement – consolidated
under embargo until Wednesday March 7, 2007 - 17H40 CET Income statement – consolidated Key financials (€m) 2004 2005 2H ’05 2H '06 2006 Revenues 854.0 975.4 516.5 613.3 1,164.0 Growth rate 14.2% 18.8% 19.3% EBITDA 89.4 90.0 51.1 67.8 125.5 EBITDA margin 10.5% 9.2% 10.0% 11.1% 10.8% EBIT 38.4 52.2 2
Slide 19: Order book evolution
under embargo until Wednesday March 7, 2007 - 17H40 CET Order book evolution 1.600 1.400 1.200 1.000 800 695 (€m) 800 500 524 45 600 38 44 488 7 6 4 26 0 400 25 23 573 507 529 200 443 293 0 2002 2003 2004 2005 2006 Construction Real Estate and management services Multitechnics Dredging Increased ord
Slide 20: Operational result – segment breakdown
under embargo until Wednesday March 7, 2007 - 17H40 CET Operational result – segment breakdown 70 65 60 55 50 39,1 45 40 35 36,7 (€m) 30 20,8 3,5 25 1,5 20 2,3 12,1 15 9,8 4,5 10 19,1 5 9,3 10,2 11,8 0 (1,4) (5) (0,8) (10) 2003 2004 2005 2006 Construction Real Estate and management services Multitec
Slide 21: Balance sheet – consolidated
under embargo until Wednesday March 7, 2007 - 17H40 CET Balance sheet – consolidated Key financials (€m) 2004 2005 1H ’06 2006 Non-current assets 312.7 385.6 409.7 444.9 Current assets 543.4 669.6 719.2 778.3 Total assets 856.1 1,055.2 1,128.9 1,223.2 Shareholders equity 178.0 199.2 201.7 269.6 Non-
Slide 22: Net financial debt evolution
under embargo until Wednesday March 7, 2007 - 17H40 CET Net financial debt evolution 250 Rise in NFD at DEME reflects its ambitious investment programme to 200 increase capacity and productivity 150 103 127 100 96 190 (€m) 84 50 62 54 47 23 0 -48 (50) (100) 2002 2003 2004 2005 2006 CFE excl. DEME DE
Slide 23: Cash flow Breakdown (2006)
under embargo until Wednesday March 7, 2007 - 17H40 CET Cash flow Breakdown (2006) 300 250 200 6 7 46 (€m) 150 122 128 100 174 142 142 50 10 25 10 0 Net financial Operational Change in Taxes Interest Net capex Acquisitions Dividend Capital Net financial debt 12/05 cash flow WC increase debt 12/06 Ne
Slide 24: Return on equity
under embargo until Wednesday March 7, 2007 - 17H40 CET Return on equity Construction – Devolpment – Dredging Multitechnics (€m) (€m) Shareholders’ Equity (group) 102.0 163.0 Net result 15.7 25.0 ROE 15.3% 15.3% 24
Slide 25: Shareholders and share performance
under embargo until Wednesday March 7, 2007 - 17H40 CET Shareholders and share performance CFE’s weekly performance over the last 3 years Shareholders Vinci Group 1200 20000 46.84% 1160 1120 18000 1080 Public 1040 1000 16000 53.16% 960 920 880 14000 840 800 760 12000 720 680 10000 640 600 560 8000 5
Slide 26: Shareholders agenda
under embargo until Wednesday March 7, 2007 - 17H40 CET Shareholders agenda Shareholders meeting 3 May 2007 Dividend settlement 30 May 2007 Press release 1H 2007 27 – 31 August 2007 26