Holcim Ltd · SIX:HOLN
Holcim — H1 2002 Earnings Presentation
25 slides from Holcim's earnings presentation, 2002
Slide 1: Half-Year 2002 – Supporting Slides
Half-Year 2002 – Supporting Slides www.holcim.com
Slide 2: Highlights
Highlights ! Better operational performance. ! Currencies weakened overall performance. ! Strong cash flow. ! Write off of Argentinean non operating assets. ! First-time consolidation of PT Semen Cibinong, Indonesia. ! Start-up of new US Portland plant in June according to schedule. 2 Half-Year 2002
Slide 3: Our Positions in Europe
Our Positions in Europe Cement plant Grinding plant Terminal New Cement plant (participation) Grinding plant (participation) Terminal (participation) Cement capacity Group (Europe): 40.3 million t; additionally with partners: 11.9 million t 3 Half-Year 2002
Slide 4: Our Positions in North America
Our Positions in North America Cement plant Grinding plant Terminal Project or under construction Cement capacity Group (North America): 21.3 million t 4 Half-Year 2002
Slide 5: Our Positions in Latin America
Our Positions in Latin America Cement plant Grinding plant Terminal Cement plant (participation) Grinding plant (participation) Terminal (participation) Cement capacity Group (Latin America): 32.6 million t; additionally with partners: 8.1 million t 5 Half-Year 2002
Slide 6: Our Positions in Africa Middle East
Our Positions in Africa Middle East Cement plant Grinding plant Terminal Cement plant (participation) Grinding plant (participation) Terminal (participation) Cement capacity Group (Africa Middle East): 13.1 million t; additionally with partners: 4.7 million t 6 Half-Year 2002
Slide 7: Our Positions in Asia Pacific
Our Positions in Asia Pacific Cement plant Grinding plant Terminal New Cement plant (participation) Grinding plant (participation) Terminal (participation) Cement capacity Group (Asia Pacific): 32.4 million t; additionally with partners: 16.8 million t 7 Half-Year 2002
Slide 8: Key Financial Figures
Key Financial Figures January - June Million CHF 2000 2001 2002 +/- Net sales 6247 6582 6441 -2.1% Operating profit 933 997 935 -6.2% EBITDA 1) 1691 1789 1706 -4.6% Group net income after minority interests 352 397 292 -26.4% Cash flow from operating activities 864 617 781 26.6% EPS in CHF 9.57 10.5
Slide 9: Major Changes in the Scope of Consolidation
Major Changes in the Scope of Consolidation PT Semen Cibinong, Indonesia Gabeter, Italy Panama Cement, Panama (proportionate) Wejherovo, Poland Various smaller companies 9 Half-Year 2002
Slide 10: Capacity and Sales Cement and Clinker
Capacity and Sales Cement and Clinker Annual cement capacity in million t Sales in million t + 17.6% + 15.8% 139.7 + 14.6% 118.8 102.6 + 9.1% + 3.3% + 9.3% 38.6 42.1 43.5 First half 2000 First half 2001 First half 2002 10 Half-Year 2002
Slide 11: Sales of Aggregates and Ready-Mixed Concrete
Sales of Aggregates and Ready-Mixed Concrete Aggregates in million t Ready-mixed concrete in million m3 + 5.8% + 2.5% - 2.4% 41.0 42.3 40.0 + 11.5% + 5.2% + 0.0% 11.6 12.2 12.2 First half 2000 First half 2001 First half 2002 11 Half-Year 2002
Slide 12: Net Sales by Region
Net Sales by Region in million CHF 2282 2218 2257 Legend First half 2000 1368 1371 1244 First half 2001 First half 2002 493 603 537 606 675 843 1741 1879 1731 12 Half-Year 2002
Slide 13: Change in Net Sales
Change in Net Sales January - June Million CHF 2000 2001 2002 Volume and price 291 5.5% 165 2.7% 32 0.5% Change in structure 221 4.2% 232 3.7% 188 2.9% Exchange rate movements 422 7.9% -62 -1.0% -361 -5.5% Total 934 17.6% 335 5.4% -141 -2.1% 13 Half-Year 2002
Slide 14: Net Sales Regional Split
Net Sales Regional Split Africa Middle Latin America East 8% Asia Pacific 26% 13% North America Europe 19% 34% 14 Half-Year 2002
Slide 15: Operating Profit
Operating Profit Operating profit in million CHF Operating profit margin 14.9% 15.1% 14.5% + 6.9% + 24.6% - 6.2% 997 933 935 First half 2000 First half 2001 First half 2002 15 Half-Year 2002
Slide 16: Operating Profit by Region
Operating Profit by Region in million CHF Legend First half 2000 266 244 274 163 157 First half 2001 77 First half 2002 395 425 417 111 120 79 87 81 30 16 Half-Year 2002
Slide 17: Change in Operating Profit
Change in Operating Profit January - June Million CHF 2000 2001 2002 Volume / price / cost 83 11.2% 9 1.0% 12 1.2% Change in structure 31 4.1% 55 5.9% -17 -1.7% Exchange rate movements 70 9.3% 0 0.0% -57 -5.7% Total 184 24.6% 64 6.9% -62 -6.2% 17 Half-Year 2002
Slide 18: Operating Profit Regional Split
Operating Profit Regional Split Africa Middle Latin America East 12% 43% Asia Pacific 9% Europe 28% North America 8% 18 Half-Year 2002
Slide 19: EBITDA
EBITDA EBITDA in million CHF EBITDA margin 27.1% 27.2% 26.5% + 5.8% + 19.7% - 4.6% 1789 1691 1706 First half 2000 First half 2001 First half 2002 19 Half-Year 2002
Slide 20: Group Net Income
Group Net Income Before minority interests in million CHF After minority interests in million CHF + 17.2% + 11.5% 511 - 16.4% + 12.8% 436 + 13.2% 427 397 352 - 26.4% 292 First half 2000 First half 2001 First half 2002 20 Half-Year 2002
Slide 21: Cash Flow from Operating Activities
Cash Flow from Operating Activities Cash flow from operating activities in million CHF Cash flow margin 13.8% 12.1% + 78.9% 9.4% + 26.6% 864 - 28.6% 781 617 First half 2000 First half 2001 First half 2002 21 Half-Year 2002
Slide 22: Cash Flow Statement
Cash Flow Statement January - June Million CHF 2000 2001 2002 Cash flow from operating activities 864 617 781 Investments to maintain productive capacity and to secure competitiveness -342 -296 -345 Free cash flow 522 321 436 Investments for expansion -326 -484 -206 Financial investments -552 -1217
Slide 23: Financing
Financing January - June Million CHF 2000 2001 2002 Financing requirement -613 -1670 -239 Equity capital paid-in (repaid) -38 656 54 Increase of treasury shares -47 -362 -5 Increase in financing liabilities 1080 648 1076 Decrease in marketable securities - 214 4 In(De)crease in cash and cash equival
Slide 24: Net Debt / Equity
Net Debt / Equity Equity in million CHF Net financial debt in million CHF Gearing 108.8% 101.6% 94.1% 11031 10139 10383 9768 9665 9824 First half 2001 Year-end 2001 First half 2002 24 Half-Year 2002
Slide 25: Half-Year 2002
Strength. Performance. Passion. 3 Holcim 2 Half-Year 2002