Corporate Presentations_2014_ Q2

Corporate Briefing
Suez
Cairo,Cement
June 30th 2014
www.suezcement.com.eg
Title
1
Contents
 Group Overview
 Market Overview
 Investment Highlights
 Financial Highlights
Suez Cement
Corporate Briefing
2
Group Overview
Suez Cement
Corporate Briefing
3
Group Overview
 Vision and Mission
 Building our vision
To be a world class local business building a
better and sustainable future for all our
stakeholders
 Building our mission
To create value in the building materials
sector through the Innovative and
sustainable use of natural resources for
the benefit of our communities and
clients.
Suez Cement
Corporate Briefing
4
Group Overview
 SCGC Group at a glance
Revenue Breakdown
Ready Mix
7%
Others 3%
 Egypt’s cement market leader
 Part of the world’s fifth largest global
cement producer
 Total production capacity of more
Cement
90 %
than12M t/y cement
MS
 5 cement plants, 2 terminals, and 20
concrete batching units
 Strong commitment to Environment
protection and social responsibility
 Total revenues of EGP 5.049 bln in 2013
and EBITDA of EGP 1.061 mln
Suez Cement
SCGC
16%
Lafarge
12%
*Others
33%
Cemex
10%
Cimpor
8%
Titan
6% Sinai - Vicat
4%
Arabian
Cement Co.
7%
Importers
0%
National
4%
Corporate Briefing
5
Group Overview - Stock Market
Nam e
 SCC Ownership Structure
Name
No. of Shares
%
Misr Capital Investments, SAE
5,502,511
3.03%
Nasser Social Bank, SAE
2,307,866
1.27%
Social insurance Funds for Public sector
employees
Social insurance Funds for Public
business sector employees
1,905,528
1.05%
1,916,709
1.05%
457,485
0.25%
Chemical Industries Company
1,039,037
0.57%
National Investment Bank
6,924,107
3.81%
National Cement Company SAE
3,967,055
2.18%
Misr insurance Co.
873,246
0.48%
Other Public Corporation &Banks
122,623
0.07%
Metallurgical Industries Company
Individuals
1.73%
No. of Shares
2,816,815
1.55%
Abd Elkader Elmohedeb Co.
Gulf International Trading & Real
Estate Co. Ltd.
abdul Monem Rashed
Abdulrahman al rashed Co.
2,185,601
1.20%
297,869
0.16%
666,667
0.37%
International Trading and
Contracting Co. Ltd.
Samer ben Saleh Hossen Elkaaki
14,392,167
864,330
212,067
11,256,864
6.19%
3,020,478
1.66%
* Private
Sector
7.80 %
Public Banks &
Companies
and Public
Sector Co
13.76 %
ITC Group
55.08%
Arab investors
11.79%
Name
%
No. of Share
Ciments Francies
22,485,545
12.36%
MENAF
47,373,830
26.05%
0.48%
CIMENTS DU MAROC CIMAR
21,210,577
11.66%
0.12%
TERCIM S A S
9,100,000
5.00%
1,132
0.00%
7.91%
Tourah Cement Company
SAE
Suez Cement
1.61%
%
United Co. for Provendrs
Abd Elmenam Rashed Abd
Elrahman
%
2,924,149
GDR
2.23%
GAZELLE
7.61%
Name
No. of Shares
Private Funds
Private Insurance
Companies , Banks and
institutions
Individuals
Corporate Briefing
6
Group Overview
 Key milestones
A successful expansion path...paused since Arab spring
2007
 JV between SCC and UNICALCE
 SCC acquired 51% of Hilal Cement - Kuwait
2006
SCC acquired Ready Mix Beton & DECOM
2005
Suez Cement (SCC) acquired 99% of Helwan
Cement Company
2001
Italcementi Group entered the Egyptian market
Suez Cement
Corporate Briefing
7
Group Overview
 SCgC Industrial network
 5 production facilities located in
Helwan, Tourah, Kattameya, Suez
and El Minya.
Suez plant
Torah plant
Helwan plant
Kattameya
plant
Menya plant
 Total production capacity of 12
million metric tons of cement.
 Approximately 15 percent market
share of grey cement.
 Approximately 26 percent market
share of white cement.
 15 Operating quarries.
 8 kilns in operation.
 All plants are ISO 9002, ISO 14001
and OHSAS 18001 certified.
Suez Cement
Corporate Briefing
8
Group Overview
Country rankings and market shares
BELGIUM
CANADA
U.S.A.
MOROCCO
SPAIN
3rd - 15%
30% - 1st
KAZAKHSTAN
5th - 4%
7th - 5%
2nd
14% -
4th
2°
15% - 4th
- 24%
7th - 6%
BULGARIA
2012 Revenues by Geography (after eliminations)
7th
n.m.
THAILAND
INDIA
Other Emerging Markets,
Trading & Others
13%
FRANCE
ITALY
2nd - 32%
16% - 1st
1st - 25%
7% - 3rd
Country ranking in regions
where the Group operates
(Italcementi estimates)
Suez Cement
EGYPT
GREECE
Source: Italcementi estimates based on brokers’ reports
Corporate Briefing
9
Group Overview
 SCgC Group structure
Arab
Investors
19.40%
Italcementi Group
55.08%
Others
25.52%
Suez Cement Company
Tourah
Cement
(TPCC)
66.12%
Helwan
Cement
(HCC)
99.54%
Suez for
Transportation
and Trade
96.36%
Suez Cement
Hilal Cement
51%
RMCA - Alalameya
52%
Suez Lime
49.66%
Suez Bags
Co. (SBC)
56.31%
Tecno
Gravel
45%
Development
for Industries
98.28%
Suez for
Import and
Export Co.
97.90%
Corporate Briefing 10
Group Overview - Stock Market
 3 Companies are listed in the Egyptian Stock Market
Suez Cement Company (181,856,507 shares)
Private
Sector
Entities &
Free Float
11.76%
Tourah Portland Cement Company
(71,524,200 shares)
Free Float
7.40 %
Public
Sector
Entities
13.76%
Itacementi
Group
%55.08
Public/Priva
te Sector
Entities
26.48%
Arab
Investors
19.40%
Suez Bags Company (2,025,000 shares)
Free Float
%12.27
Suez
.Cement Co
)SCC)
%66.12
Helwan Cement Company
( 116,691,231 shares )
( Not Listed )
Funds,
Private
Entities &
Free Float
%0.46
Suez
.Cement Co
)SCC(
%53.32
Dipeco
Swiss LTD
%29.89
Tourah
Portland
.Cement Co
%4.52
Suez Cement
Suez Cement
)SCC ( .Co
%99.54
Corporate Briefing 11
Group Overview - Stock Market
 Strong decline in Price/Earning multiple which started to bounce back
Suez Cement ( In M EGP )
Market Cap
P/ER
18000
25
21.1
16000
14000
12000
EGX Code
15.5
14
10000
15
6.5
6000
5.6
7.2
7.8
Price Earning
8.5
10
3.8
4000
5
2000
5200
2004
16400
181,856,507
Market Value
10.7
8000
0
No. of Shares
20
17.1
SUCE
12000
10500
4000
8446
6911
4106
4101
4480
6729
2005 2006
2007
2008
2009 2010
2011
2012
2013 Q2 2014
0
≡ Market Cap (EGP million)
6,729
≡ Closing Price (EGP)
37,00
≡ 52 WK High (EGP)
42.04
≡ 52 WK Low (EGP)
21.50
≡ 52 WK Avg. Volume
24,460
≡
733,443
YTD Avg. Daily Value Traded (EGP)
30 June 2014
Suez Cement
Corporate Briefing 12
Market Overview
Suez Cement
Corporate Briefing 13
Market Overview
 Egypt Macroeconomic Outlook
2012e
2013f
2014f
2015f
2016f
2017f
actual
actual
actual
actual
actual
actual
Population growtth
80.7
82.2
83.4
84.7
86.0
87.3
Gross Domestic Product (% yoy)*
6.0
4.0
4.5
4.5
4.5
4.5
Gross Fixed Capital Formation (% yoy)
32.8
-3.7
10.9
16.1
16.6
17.3
Inflation rate %
7.2
9.5
10.1
10.1
10.0
9.5
Exchange rate (loc.Cur/€)
7.7
9.4
8.9
8.4
7.9
7.8
Exchange rate (loc.Cur/$)
6.1
7.1
7.0
6.8
6.6
6.5
lending rate (% annual av.)
10.2
10.8
11.1
10.5
10.0
10
109.5
103.0
101.0
100.0
99.0
97.0
15.7
11.4
13.2
3.7
3.3
5.0
OPEC basket Price, US$/bbl, ave
Construction industry, real
growth, % y-o-y
5 years compounded annual growth rate
Suez Cement
Corporate Briefing
14
Market Overview
 Egypt Macroeconomic Outlook
60
+ 1.95%
50
49.5
40
Market
Volumes*
M tons
20
30.1
34.5
2006
2007
28.5
-2.1%
50.1
50.2
48
30
10
48.7
25.7
26.2
2013
H1
2014
H1
38.5
0
2005
31%
30%
31%
2008
28%
2009
24%
2010
2011
22%
2012
20%
2013
18%
15%
15%
12
SCGC MS %
10
11.7
8
SCGC
Volumes
M tons
6
11.1
10.9
9.8
10.6
8.6
9.3
2005
2006
8.2
7.5
4.0
4.0
2013
H1
2014
H1
4
2
0
2007
2008
2009
2010
2011
2012
2013
CAGR: Compound Annual Growth Rate
*Source: Ministry of Investment
Suez Cement
Corporate Briefing
15
Market Overview
 The residential segment consumes more than 65% of the total cement
consumption
 Residential
 Although the tough situation this
segment still have Good
perspectives in the short and
medium term projects.
Cement Final Destination
Infrastructuer
25%
Residential,
65%
 Non-residential
 Sharp drop expected in the
tourism & industrial sectors due to
the country political situation.
 Infrastructure
 This segment has been strongly
affected by the 25th of January
revolution and the government
instability.
Suez Cement
Non
Residential,
10%
Corporate Briefing
16
Market Overview
 More than 60% of total domestic cement consumption is concentrated in Greater
Cairo & Delta

Cement dispatch/ region
Market %
of Total
SCGC
MS%
Greater Cairo
25%
52%
Delta
35%
26%
Upper Egypt
16%
3%
Others
21%
9%

Population 2013*: 83.6 million

Growth rate (2011-2013)*: 1.9%

Age profile (CAPMAS** – May2013):

0–4
10.6%

5 – 14
21.1%

15 – 44
49.8%

45 – 60
12.4%

+60
6.1%
Suez Cement
**CAPMAS: Central Agency for Public Mobilization And Statistics
- Source: Business Monitor International Data referred to 2009
Corporate Briefing 17
Market Overview
 Evolution of OPC Bag – Bulk Ratio in the Egyptian Market
Bagged to Bulk Ratio
Bags
9%
11%
Bulk
9%
9%
91%
91%
89%
2010
2011
2012
9%
9%
91%
91%
2013 H1
2014 H1
91%
2013
Source: internal market intelligence
Suez Cement
Corporate Briefing
18
Investment Highlights
Suez Cement
Corporate Briefing 19
Investment Highlights
 Being part of a global player, SCgC has an immediate access to
worldwide best practices
World class
management team
Technical Know-how,
R&D, and industry
knowledge
Suez Cement
Strong corporate
governance
Highest operating,
control & risk
management standards
Global industrial and
distribution network
World class Health,
Safety and Environment
standards
Corporate Briefing 20
Investment Highlights
 Attractive Business Model
Suez for Import and Export
Co.
Suez for Transportation and Trade
Importation
Distribution
Quarrying
Cement
Production
Retailing
Bagging
Suez Bags Co.
Helwan Bags Co.
Bulk
Concrete
Admixtures
RMC
RMB Co.
A Fully Vertically Integrated Player
Suez Cement
Corporate Briefing 21
Investment Highlights
 Operational Efficiencies in the pipeline

Installing state-of-the art kiln and mill production lines replacing the less efficient ones

Starting to use Coal instead of Gas.

Decreasing the clinker ratio in cement production through the use of alternative raw
materials can result in saving energy and reducing the emissions, while maintaining
the same quality and improving performance.

Using alternative fuels can achieve a saving of 1 – 4% on the cost of fuel.
Suez Cement
Corporate Briefing 22
Q2 2014 GOP Variance
In Millions of local currency
YTD June Cement
181
-112
-53
52
-62
551
557
PY
Volume
Price - VC
Clinker
purchase
Fixed cost
inflation
Efficiencies
Ac 14
551
52
181
-112
-53
-62
557
Suez Cement
Corporate Briefing 23
Evolution of SCGC OPC Bags Ex-works price (EGP/t)
700
1st Jun 13
Sales Tax 5% + 1%
commercial tax
603.5EGP/ton
4th Mar 13
Sales Tax 5%
615EGP/ton
675
18 Mar10
+10EGP/ton
465EGP/ton
600
575
Jan 10
455EGP/ton
Mar14
+49EGP/ton
663EGP/ton
22nd Feb14
614EGP/ton
650
625
Apr14
+37EGP/ton
700EGP/ton
9th Feb 13
Sales Tax 5%
548.6EGP/ton
630
611
1st
Jul10
Sales Tax 5%
496EGP/ton
465
550
537
525
500
338
475
491
450
425
400
9th Jun 10
+10EGP/ton
475EGP/ton
375
350
325
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
300
2010
2011
2012
2013
2014
OPC: Ordinary Portland Cement
Suez Cement
24
Market Overview
 Egypt Grey Cement Market
Structural Demand (Mt)
80,000
70,000
65,8MT
58,8M
60,000
50,000
40,000
2014
752
Kg/inhab
2004
330
Kg/inhab
1999
414
Kg/inhab
2009
616
Kg/inhab
30,000
20,000
10,000
-
Suez Cement
Corporate Briefing
25
Suez Cement Mid Term Plan
 Improving Market conditions

Market recovery from 48 to 60 Million Tons (25%)

Limited capacity addition anticipated (5 to 6%)
=> Capacity utilization should increase from mid 70s to mid 90s
 Implementing fuel flexibility strategy

Coal and Petcoke to release gas & fuel oil as main fuels .

Waste companies processing development.

Wind farm project to supply 30 to 40% of power needs.
=> existing capacity could be mobilized at an energy cost close to current levels
(investments underway)
Suez Cement
Corporate Briefing 26
Suez Cement Mid Term Plan
 Efficiency gains

Energy consumption optimization (wet kilns decommissioned, waste heat recovery…)

Headcount progressive alignment to industry benchmark (850 employees to retire through
2020)
 Sustainability

Energy strategy to mitigate CO2 emissions from coal usage.

Development of new products in cement and ready mix

Continued corporate social responsibility programs focused on education and health
Volumes (MT)
EBITDA/ton (EGP)
Suez Cement
2012
8.3
110
2013
7.5
120
Mid Term
10.0
160
Corporate Briefing 27
Investment Highlights
 SCC considers both organic and inorganic growth to increase the
production capacity
Growth
T
o
Organic Growth
b
e
New Licenses
D
o
n
e
D
o
n
e
Suez Cement
Replacement of the
inefficient lines
Aggregates
De-bottleneckings
to replace least
efficient lines
Inorganic Growth
Possible
Acquisitions
Egypt and MENA
Helwan Cement
Co.
Corporate Briefing 28
Investment Highlights
 As a Business-Level strategy, SCgC implements a differentiation
strategy in its marketing approach that provides value to customers
and is worth a premium price
13 Different types of cements
Original Products
Premium Products
Special Products
 Ordinary Portland Cement
(CEM I 42,5 N & 42,5 R)
 Sulfate resistant cement
(SRC 42,5 N)
 White cement (CEM I 52,5
N)
 Premium OPC (CEM I 42,5
R)
 Premium Sulfate Resistant
Cement (SRC 42,5 N)
 Suez Plast (MC5)
 Portland Limestone
Cement (CEMII / B-L 32.5
N)
 Portland Slag Cement
(CEMII / A-S 32.5 N)
 White Cement (CEMII / B-L
42.5 N)
 Blast Furnace Cement High Slag Cement (HSC)
(CEM III/A- 32.5 N)
 OPC Superfine- 4001
 Oil Well Cement Explora G
(Class G HSR )
Suez Cement
Corporate Briefing 29
Investment Highlights - Sustainable Development
 Vision

SCgC is aware of the importance of its social role and promotes a socially responsible behavior among
all of its employees.

The Company believes that Sustainable Development, as a combination of economic prosperity,
environmental protection and social responsibility, is the basis of its own future.

Six key areas have been identified because of their significant contribution to the realization of a
sustainable future:
climate
protection
and CO2
manageme
nt
reporting
and
communic
ations
responsibl
e use of
fuels and
materials
local
impacts
on land
and
communiti
es
employee
health and
safety
emissions
reduction
Suez Cement
Corporate Briefing 30
Investment Highlights - Sustainable Development
 Commitment to Environment Protection

We are committed to:

Constantly monitor each of our sites to reduce and prevent any possible effect on the environment.

Optimize the use of non-renewable resources in our production processes

Enforce the best environmental standards, with a new wave of investment to reduce dust emissions (20122014).

Promote friendly and professional environmental practices to all our staff
Suez Cement
Plant
Yearly Avg Dust Emission
Helwan (2013-2014)
150 – 200 to decrease to 10-20
Tourah(2012-2014)
150 – 200 to decrease to 10-20
Kattamiyah(2014)
60 – 100 to decrease below 50
Suez(2014)
80 – 100 to decrease below 50
Minya(2014)
100 – 150 to decrease to 50-100
Corporate Briefing 31
Investment Highlights - Sustainable Development
 Our quality and environmental key achievements
Environmental
•
•
•
•
•
•
•
•
Establishing new Coal mills in Kattameya and Suez.
Utilizing agricultural wastes, sewage sludge's
Recycling of bypass dust
concealment of historical bypass dust
Pollution abatement and emission control
Upgrading existing environmental management system.
EPAP Implementation
All plants are ISO 14001/2004 certified
Quality
•
•
•
•
The ISO 14001 approach is based on three steps:
compliance with all applicable standards;
prevention of potential environmental impacts;
continuous improvement of performance.
Suez Cement
Corporate Briefing 32
Investment Highlights - Sustainable Development
 Social initiatives

Our efforts have been focused on:

Safety in the workplace and industrial hygiene;

Direct and indirect local employment according to the requirements of its activity;

Responsible restructuring;

Assessment of employee satisfaction;

Training and skills development;

Interaction with local communities;

Co-operation with clients and suppliers.
Suez Cement
Corporate Briefing 33
Social Initiatives for 2014 – Q2
•
Suez Cement group of Companies partnered with the Association for Development &
Enhancement of Women (ADEW) for the rehabilitation of a school in Kafr el-Elw in Helwan.
Main aim of the 8 months project is to provide the school with the necessary equipment
needed to create a suitable school environment. 500 students in the targeted school will
receive the scholarships, to give them the opportunity to pay for their tuition fees, buy
books, uniforms, bags, shoes etc. 80% of the targeted students are girls, while 20% of the
students are boys.
•
The Company also supported Charity activities during the holy month of Ramadan. 6,000
Ramadan bags which include the basic food needs for the fasting month were distributed,
as well as totally 9,000 meals in the Charity Tents organized in Tourah and Helwan districts
(300 people daily for 30 days). The 15,000 beneficiaries are poor families listed in Maasara
and Kafr El Elw areas.
•
Cement donations
Suez Cement
34
Investment Highlights - Sustainable Development
 Commitment to Safety
 Adopting the “Zero Accident” brings together
all the necessary programmers required to
establish a consistent Safety management
system.
Evolution of Frequency of Accidents1 (2009 – 2013)
2009
2010
2011
2012
2013
Q2 2013
Q2 2014
Employees
2.7
2.5
4.1
2.4
1.2
0.0
1.4
Contractors
3.1
2.2
2.1
1.8
3.3
3.9
1.6
Suez Cement
Corporate Briefing 35
Investment Highlights - Sustainable Development
 Corporate Governance
 Committed to efficiency, transparency and appropriate
management
 Standing for business ethics and creation of value
 A well defined decision making structure
 Adopting consistent system of policies and procedures
which comply with local legislations and best practices.
 In 2007, we introduced our Charter of Values, setting out
the fundamental principles of the Suez Cement’s
engagements in Corporate Governance and the goals of
the Group’s Sustainable Development strategy
Suez Cement
Corporate Briefing 36
Financial Highlights
Suez Cement
Corporate Briefing 37
Financial Highlights
June 2014 SCgC Cost Breakdown
 An increasingly energy intensive industry…
Energy represents 55
% of the production
cost
Energy represents 67 %
of the production cost
Suez Cement
December 2013 SCgC Cost Breakdown
Corporate Briefing 38
Financial Highlights
 Fuel prices increased by more than 50% since Feb 2013
400
300
200
100
0
Electricity EGP/MWH x 3 since 2004
268
329
245
113.4
119.1
125
134
161.3
Before 30Sep 04
1-Dec-04
1-Dec-05
1-Oct-06
1-Sep-07
1-Jul-08
1-Jul-10
1-Jan-12
Fuel Oil EGP/t x 6 since 2004
1624
1700
1400
1100
800
500
200
182
250
Before April 2004
Apr-04
1000
1000
1-Jan-08
1-Jul-10
500
300
-100
7
6
5
4
3
2
1
0.85
1
0
Before 19 March 2004 19-Mar-04
10-Sep-04
21-Jul-06
Natural Gas $/MBTU x 6 since 2004
1.25
1.72
21-Jul-06
2-Sep-07
3
3
30-Jun-08
1-Jul-10
4
1-Jan-12
15-Feb-13
6
15-Feb-13
30 June2014
Suez cement
Suez Cement
Corporate Briefing 40
YTD June 2014 key results (Consolidated)
2014 Q2 EBITDA progressing 18% vs last year and first Quarter (373 MEGP vs. 315
MEGP in PY and 316 in Q1) as price, market share gains and efficiency improvement
allowed to offset impact from the energy shortage. YTD June 2014, EBITDA increased by
37 MEGP or 5.6%).
Suez Cement
40
GOP Evolution (Consolidated)
Strong positive trend in EBITDA evolution since Q4 2013.
EGPm
Quarterly EBITDA 2012-2014
400
345
350
300
250
300
300
268
200
241
337
315
265
373
316
269
242
150
139
100
50
0
Q1
2012
Suez Cement
Q2
2012
Q3
2012
Q4
2012
Q1
2013
Q2
2013
Q3
2013
Q4
2013
41
Q1
2014
Q2
2014
Financial Highlights
MEGP
2010
2011
2012
2013
June
2013
June
2014
Revenues
6,152
4,820
4,597
5,049
2,575
3,171
EBITDA - recurring
2,120
1,199
1,051
1,061
653
689
% on revenues
34.4%
24.9%
22.9%
21.0%
25.3%
21.7%
EBIT
1,705
837
702
681
466
476
% on revenues
27.7%
17.4%
15.3%
13.5%
18.1%
15%
Net Profit
( Group Share)
1,236
568
524
538
389
312
% on revenues
20.1%
11.7%
11.4%
10.7%
15.1%
9.8%
Suez Cement
Corporate Briefing 42
Financial Highlights
 Strong equity structure with growing accumulation of cash
MEGP
2010
Dec 2011
Dec 2012
2013
June 2013
June 2014
Total L-T Assets
6742
6703
6654
6,842
6601
7132
Inventory
952
998
804
844
922
942
Account Receivables
243
247
268
204
242
231
Cash and Cash
Equivalents
1758
1448
1622
1817
1528
1942
Total Current Assets
3299
2957
3029
3129
3004
3668
10041
9661
9683
9971
9605
10800
13
0
-
3
0
10
8
24
37
52
36
53
12
4
-
-
-
-
1805
1609
1684
1747
1636
2629
34
81
57
58
48
245
8039
7771
7756
7930
7741
7636
Total Liabilities &
Equity
10041
9661
9683
9971
9605
10800
Net Debt( Cash)
Position
(1670)
(1338)
(1528)
(1704)
(1444)
(1634)
Net Debt( Cash) /
EBITDA
NS
NS
NS
NS
NS
NS
Net Debt( Cash) /
Equity
NS
NS
NS
NS
NS
NS
1326
490
777
656
322
500
Total Assets
S-T Debt
Cp of L-T Loan
Cp of L-T liabilities
Total Current
Liabilities
L-T Loan
Total Equity
FCF**
** FCF Defined as CFO-capex
Suez Cement
Corporate Briefing 43
Financial Highlights
Key Historical Financials : current environment heavily impacting results but cash flow
generation has been somehow resilient.
Revenue (EGPm)
CAGR 06-13: 4%
Rec. EBITDA (EGPm)
3,171
5,542 6,380 6,152 4,820 4,597 5,049
4,196
3,543
2,572
2006
2007
2008
2009
2010
2012
2013 Q2 2013Q2 2014
1,986
2006
2007
2008
2009
2010
2011
2012
2013 Q2 2013 Q2 2014
CAGR 06-13: -3%
523
312
1,041 1,301 1236
981
703
569 524 538 389
Q2 Q2
2013 2014
2006 2007 2008 2009 2010 2011 2012 2013 Q2 Q2
2013 2014
863 926 988 565
2006 2007 2008 2009 2010 2011 2012 2013
2,155 2,120
1,443 1,757 1,863
1,199 1,051 1,061
653 689
Net Income (EGPm)
CAGR 06-13: -3%
Cash Flow (EGPm)
1,354 1,268 1,867 1,680
2011
CAGR 06-13: -3%
30 June 2014
Suez Cement
Corporate Briefing 44
Financial Highlights
 More than EGP 4 BN dividend pay out since 2005
Dividend distributed by SCC (EGPm)
Dividend per Share (EGP/Share)
4.26
 Annual Dividends.
774
182
 Interim Dividends.
3.9
709
592
2.0
4.4
282
2.0
482
2.0
1.7
309
309
364
2.65
363
182
1.65
182
300
182
118
2005
2006
2007
2008
2009
2010
2011
2012
1.0
2013
2014
* Starting from 2006 the number of Capital Shares has been increased from (64M) up to (181M)
30 June 2014
Suez Cement
Corporate Briefing 45
Financial Highlights
 Main Historical Acquisitions and CAPEX
Year
Company
Share
2005
Helwan Cement Co.
98.7%
10/2006
RMB + RMBE
52%
EGP 81M
8/2007
Hilal Cement (Kuwait)
51%
EGP 262M
Figures are in MEGP
408
CAPEX
Value
EGP 3.4bln
407
324
233
264
252
230
231
132
2007
2008
2009
2010
2011
2012
2013
Q2 2013
Q2 2014
30 June 2014
Suez Cement
Corporate Briefing 46