Holcim Ltd · SIX:HOLN
Holcim — H1 2003 Earnings Presentation
10 slides from Holcim's earnings presentation, 2003
Slide 1: Half-Year Results 2003: Highlights first half 2003
Half-Year Results 2003 www.holcim.com Highlights first half 2003 Substantial margins improvements due to productivity gains and cost savings Growth in sales volumes in all segments Improved income line items in local currency terms Successful commissioning of Holly Hill plant Launch of a E
Slide 2: Key financial figures
Key financial figures Full Year Half-Year +/- Million CHF 2002 2002 2003 in CHF in loc. curr. Net sales 13'010 6'441 5'804 -9.9% -1.1% Operating profit 1'903 935 884 -5.5% 5.9% Operating EBITDA 3'341 1'656 1'527 -7.8% 2.8% EBITDA 3'399 1'706 1'566 -8.2% 1.8% Group net income after minority interests
Slide 3: Exchange rates; Net sales
Exchange rates Statement of income average exchange rates in CHF H1 01 H1 02 H1 03 +/- 1 EUR 1.53 1.47 1.50 2.0% 1 USD 1.72 1.63 1.35 -17.2% 1 African Basket (EGP, ZAR, MAD) 1) 1.30 1.00 0.98 -2.0% 1 Asian Basket (AUD, NZD, THB, PHP) 1) 1.02 1.00 0.89 -11.0% Balance sheet exchange rates in CHF 30.6.
Slide 4: Sales volumes; Net sales by region
Sales volumes Cement sales in million t Aggregates sales in million t Ready-mix concrete sales in million m3 44.8 43.5 42.9 42.1 42.3 40.0 12.2 12.2 12.6 H1 2001 H1 2002 H1 2003 7 Half-year results 2003 Net sales by region Million CHF 2153 2112 H1 2002 H1 2003 1240 1003 869 843 537 565 1731 1381 ∆ H
Slide 5: Net sales by region; Operating profit
Net sales by region Latin America North America 23% 17% Africa Middle East 10% Europe 36% Asia Pacific 14% Half-Year 2003 9 Half-year results 2003 Operating profit Million CHF Margin 15.2% 15.1% 14.5% 997 935 884 Volume / price / cost 9 1.0% 12 1.2% 31 3.3% Change in structure 55 5.9% -17 -1.7% 24 2
Slide 6: Operating profit by region; Operating EBITDA
Operating profit by region Million CHF 288 H1 2002 266 H1 2003 80 45 80 96 120 121 417 385 ∆ H1 02/H1 03 Volume/ Change in Currency Total price/cost structure Europe -14.2% 5.2% 1.4% -7.6% North America -32.5% 0.0% -11.3% -43.8% Latin America 12.3% 0.2% -20.2% -7.7% Africa Middle East 6.7% 0.0% -5.9
Slide 7: EBITDA; Group net income
EBITDA Million CHF Margin 27.2% 26.5% 27.0% 1'789 1'706 - 4.6% 1'566 - 8.2% H1 2001 H1 2002 H1 2003 13 Half-year results 2003 Group net income Before minority interests in million CHF After minority interests in million CHF 511 427 397 402 292 273 H1 2001 H1 2002 H1 2003 14 Half-year results 2003
Slide 8: Cash flow from operating activities; Cash flow statement
Cash flow from operating activities Million CHF Margin 12.1% 10.4% 9.4% 781 617 602 H1 2001 H1 2002 H1 2003 15 Half-year results 2003 Cash flow statement Million CHF Full Year Half-Year +/- 2002 2002 2003 Cash flow from operating activities 2'388 781 602 -22.9% Investments to maintain productive cap
Slide 9: Financing; Gearing
Financing Million CHF Full Year Half-Year +/- 2002 2002 2003 Financing (requirement) surplus 533 -239 -588 146.0% Equity capital paid-in by minority interests -10 54 – Movements of treasury shares net -1 -5 6 Increase in financing liabilities 334 1'076 719 Equity component of convertible bonds 58 –
Slide 10: Outlook 2003
Outlook 2003 Europe: gradual improvement in the market situation in Germany and overall stabilization North America: improved construction and order books particularly in Canada, sluggish economy, US cement prices slightly down Latin America: continued benefit from solid demand for constructio