Buzzi Unicem Group Brief Presentation

Buzzi Unicem Group
Brief Presentation
Milan
Febraury 20, 2013
Index
• Buzzi Unicem Group at a Glance: Financial highlights and performance
•
Vision, history and milestones
• Size and internationalisation
• Major changes / Pros and cons
1
Volumes
Cement
Ready-mix concrete
(m ton)
(m m3)
2
Board of Directors | November 8,
Consolidated Income Statement
EURm
2012
Net Sales
Operating cash flow (EBITDA)
of which, non recurring
% of sales (recurring)
Operating profit
(EBIT)
% of sales
Profit before tax
Income tax expense
Net profit
Minorities
Consolidated net profit
Cash flow (1)
Net financial position (e.o.p)
(1) Net Profit + amortization & depreciation
3
2,813.6
450.0?
2011
2010
2,787.4
429.4
2,648.4
387.0
7.1
(11.3)
15.2%
15.0%
185.9
0.3
6.7%
0.0%
84.3
(30.2)
54.4
(27.7)
26.4
(102.1)
60.6
(41.4)
(22.0)
(63.5)
297.6
345.3
(1,124.9) (1,143.1) (1,266.9)
Index
• Buzzi Unicem Group at a Glance: Financial highlights and performance
•
Vision, history and milestones
• Size and internationalisation
• Major changes / Pros and cons
4
Buzzi Unicem …………………………………………………..our business Vision
1
2
 ...focused on core
International multiregional, heavy-side
group...
business (cement,
rmx, aggregates)...
7
3
Strong Shareholder
with LT view of the
business
and Dedicated Mngt
…pursuing geographic
diversification in
attractive markets,
6
4
Solid Financial profile
and Balanced Growth
Strategy
5
Sustainable development
thru Efficient, HQ and
environmentally friendly
…leading product and
quality service offering
assets
s
“Value creation for the Stakeholders through lasting, experienced know-how
and operating efficiency”
5
Company History and Milestones
1907
1970‐79
1980‐89
1990‐99
2000‐04
Established 1907
Leading Italian regional operator
2005‐ 13
Established 1872
No. 2 Italian cement producer
• 1965: Enters ready-mix market in Italy
• 1973: Listing on Italian Stock Exchange
• 1979: Enters US market
• 1979: Enters US market
• 1981: Enters Mexican market
• 1987: Enters ready-mix market in Italy
• 1997: Acquisition of 21% of Unicem,
followed by tender offer (1998)
• 1999: Buzzi - Unicem merger; listing on Italian Stock Exchange
• 2001: Establishment of Dyckerhoff alliance
• 2004: First time consolidation of Dyckerhoff (#2 German player)
• 2007: Company 100° anniversary
• 2011: Completion of expansion projects in Mexico, Russia and Ukraine
• 2013: Announced suqeeze out intention on DY’s minorities
6
Index
• Buzzi Unicem Group at a Glance: Financial highlights and performance
•
Vision, history and milestones
• Size and internationalisation
• Major changes / Pros and cons
7
Size and internationalization…………………………..Locations and capacity
CEMENT PLANT
GRINDING PLANT
STOCKERTOWN
SELMA
GREENCASTLE
CAPE GIRARDEAU
m ton
Italy
10.8
# plants/grinding
PRYOR
CHATTANOOGA
SUCHOJ LOG
11+3
MARYNEAL
USA
9.5
8
Germany
7.2
7
Lux
1.4
1+1
SAN ANTONIO
CERRITOS
LENGERICH
TEPETZINGO
DEUNA
1.6
AMÖNEBURG
GÖLLHEIM
RUMELANGE
APAZAPAN
Poland
1
RIVA
Cz. Rep.
1.1
GESEKE
1
ROBILANTE
NOWINY
RIVNE
HRANICE
CADOLA
TRAVESIO
VERNASCA
SETTIMELLO
Ukraine
3.0
2
GUIDONIA
SINISCOLA
Russia
3.6
1
Mex (100%)
6.3
3
Algeria (100%) 2.1
Total
8
>41
2
39+2
SOUR EL GHOZLANE
CASERTA
HADJAR SOUD
BARLETTA
AUGUSTA
NIKOLAJEV
Geographic diversification
Leading position in core geographies and
selected emerging markets (4)
Among top ten largest global players(1)
Capacity (m ton)(2)
217
Lafarge
212
Holcim
#4/#5
117
Heidelberg
9%
96
Cemex
#4
75
Italcementi
12%
41
Buzzi Unicem
36
Votorantim
%
Market Share
#
Positioning
4%
36
Cimpor
Vicat
CRH
#2
14%
<#5
27
9%
#3
18%3
17%
26
7%
6%
3%
16%
#2
19%
9%
2%
1
28%
“Leading Cement Multi-Regional Player with Well Diversified Geographical
Spread”
12%
_________________
(1) Ranking excludes Chinese and Indian players. (2) Source: 2010A annual reports
(3) Installed capacity refers to cement plants only
(4) Source: 2011 company estimates
9
9
Index
• Buzzi Unicem Group at a Glance: Financial highlights and performance
•
Vision, history and milestones
• Size and internationalisation
• Major changes/ Pros and cons
10
Major Changes
• Corporate bodies:
• BoD ( 5-9-13 /minorities/ external members); BoS. Auditors, Shareholders meetings..
•
Audit
• “Codice Autodisciplina”
• “Comitato controllo interno”, “comitato parti correlate” (mandatory since‘10); no
nomine, no remunearzione
• Information duties
• More disclosure to third parties (on sharehldings, infra anunal results, w/ PR, IR) and
more attention to market abuse, insider trading, insider dealing…
• Organization
11
Pros and cons
PROS
• Active BoD, with expert,
professional, independent directors
• Better role definition (supervisory vs.
consultancy vs. resolution)
12
CONS
• Professionals in family business
• Excessive formalization
• More compliance costs
Buzzi Unicem Group
Brief Presentation
Milan
February 20, 2013