COMPANY PROFILE - Braas / Monier

COMPANY PROFILE
2
Braas Monier Building Group
OUR GLOBAL PRESENCE
Central & Eastern
Europe, Southern
Europe
United Kingdom
South-Eastern
Europe
Europe-wide
Western Europe,
Nordics & Baltics,
Italy, Asia
Spain & Portugal
Italy
South Africa
Company Profile
GROUP KEY FIGURES
Operating EBITDA 2015
(EUR million)
196.8
Revenues 2015
(EUR million)
2014: 195.4
1,256.7
+ 0.7 %
2014: 1,211.3
Employees (FTE)
DEC 2015
+3.8 %
Net Profit 2015
(EUR million)
55.1
2014: 39.8
7,735
DEC 2014: 7,300
Dividend 2015
(EUR per share)
+ 38.6 %
+ 435
0.40
Operating
Cash Flow 2015
(EUR million)
2014: 0.30
121.9
+ 33.3 %
DEC 2014: 65.4
ROIC
2015
10.7 %
2014: 10.4 %
+30 bps
+ 86.5 %
REVENUES BY PRODUCT GROUP
Chimneys &
Energy Systems
13.8
Other
1.4
2015
Roofing
components
21.4
in %
Total: EUR m 1,256.7
Clay
roof tiles
23.6
OUR BUSINESS
Concrete
roof tiles
39.8
PLANTS
> 100 in 30 countries
BUSINESS ACTIVITIES
> 50 countries worldwide
GROUP HOLDING
Luxembourg
4
Braas Monier Building Group
COMPANY PROFILE
We are a leading manufacturer and supplier of pitched roof
products, including both roof tiles and roofing components,
in Europe, parts of Asia and South Africa.
We have been making pitched roof products for almost
a century, and our expertise, developed over this extensive
period of time, covers all steps of the manufacturing process
and makes us a preeminent roofing manufacturer.
We are one of the few manufacturers to sell both a comprehensive range of concrete and clay tiles for pitched roofs
and complementary roofing components designed to cover
various functional aspects of roof constructions.
The product portfolio is complemented by ceramic and steel
chimneys and energy system solutions.
Company Profile
THE SENIOR MANAGEMENT TEAM
PIERRE-MARIE DE LEENER
Chief Executive Officer
GEORG HARRASSER
Chief Operating Officer
MATTHEW RUSSELL
Chief Financial Officer
STRUCTURE
INTERNATIONAL MANAGEMENT COMMITTEE
SENIOR MANAGEMENT
CEO
PIERRE-MARIE DE LEENER
CFO
MATTHEW RUSSELL
COO
GEORG HARRASSER
President Schiedel
(Chimneys &
Energy Systems)
Regional President
Central, Northern &
Eastern Europe
Regional President
Western Europe
Regional President
Southern Europe
Regional President
Asia
DR FRANK
HERRMANN
GEORG
HARRASSER
CHRIS
MORGAN
DR ANDREA
BENINCASA
MARCO
RIGHI
5
Braas Monier Building Group
The whole roof is key
A modern roof needs to do more than just keep the water out and a full roof system is
more than the sum of its parts. The advantages of individual components add up to a
more extensive benefit. High-performance insulation together with breathable underlays,
our infra-red reflecting tiles and photovoltaic systems offer high energy-saving potential.
The right tiles in combination with matching fixings and snow & safety components
resist even the harshest of weather conditions. Integrated heating and ventilation
systems play an increasingly important role in modern buildings.
06
03
07
02
08
01
02
05
04
Vorwort
Company
des Vorstands
Profile
13
12
14
16
10
11
17
09
11
15
Braas Monier Building Group
THE WHOLE ROOF IS KEY
We are one of the few manufacturers to offer both a comprehensive range of concrete and
clay tiles for pitched roofs and complementary roofing components designed to cover various
functional aspects of roof construction. Chimneys and energy systems complete the product offer.
01
VENTILATION
02
05
06
ABUTMENTS
03
07
RIDGE & HIP
04
INSULATION
08
EAVES
CHIMNEY
VALLEYS
UNDERLAYS
Vorwort
Company
des Vorstands
Profile
09
10
11
12
13
FIXINGS
SOLAR ACCESSORIES
SNOW & SAFETY
SOLAR
FITTINGS
14
15
16
17
17
ROOF OUTLETS
GUTTERS
WINDOWS
CLAY TILES
CONCRETE TILES
9
10
Braas Monier Building Group
Natural Need
Pitched roof tiles have a long tradition in Europe.
Clay tiles have been used for millennia, concrete tiles
for several hundred years. The basic functionality of
tiles has not changed much since then: protecting the
building from the elements in an aesthetic way.
Company Profile
Protection and Comfort
The roof is a decisive element in protecting the building
structure against damage caused by natural forces.
Guaranteed persistence of tiles and components under
harsh weather conditions is key.
11
12
Braas Monier Building Group
Quality roof tiles
Whatever the project – new build or renovation, basic
functionality or high-end roof systems – we offer our
customers a comprehensive range of concrete and clay
tiles and roofing components.
The various local legal requirements as well as the
different notions of an aesthetically pleasing roof often
lead to very individual roof tiles country by country. But
whether it is in Berlin or Mumbai they have one thing in
common: Rain, storm or heat can do little harm to them.
CLAY TILES – A TRADITIONAL BUILDING
MATERIAL WITH FUTURE
Clay is one of the world’s oldest raw materials and
remains a contemporary building material to this day.
Clay tiles have been appreciated by house builders for
centuries. They have a natural surface texture that often
looks like it has been made by hand. While clay tiles in
traditional designs, colours and surfaces remain popular
among house builders, modern designs such as the flat
Braas Turmalin show that clay tiles are also well suited
for contemporary projects.
Clay used for the Group’s tiles is mainly sourced from
the plant’s own pits that subsequently can be used
as forestry land or for recreational and agricultural
purposes following rehabilitation.
The evolution of one of the world’s oldest raw materials into a modern and contemporary building material
shows the diversity and potential of clay tiles that are
enjoying an unwaning demand.
INNOVATION – MODERN LOOKS
PHOTOVOLTAIC IN-ROOF SYSTEMS
Due to its generous size ‘De Nieuwe Hollander’ tile adds an elegant
and exclusive look to modern roofs. The special dimension of this
model was designed to allow for a smooth roof pattern while at
the same time supporting modular roof constructions.
The photovoltaic (PV) in-roof system combines aesthetics with
design and functionality. The roof integrated solar system together
with the clay tile is a technically perfected PV solution for linear clay
tile roofs beyond 22° roof pitch. The modules blend harmoniously
into the roof and perfectly match with the flat clay tile.
Company Profile
CONCRETE TILES – A MODERN BUILDING
MATERIAL
Today concrete is an indispensable building material for the
construction of modern buildings and a firm part of the
appearance of our cities. On the roof as well where concrete tiles provide protection against wind and weather.
Concrete tiles are made from sand, water, cement and
pigments, and are not fired like clay tiles, but cured at
temperatures of approximately 60 degrees Celsius.
The curing process makes them sturdy enough to be
transported and laid within a few days of manufacture,
and they get stronger over time. The energy-efficient
production process and long product life cycle mean
that concrete tiles have one of the best environmental
footprints of all roofing materials. Concrete tiles are
a functional and ecologically sound solution offering
excellent value for money.
Nowadays they can be found in a variety of designs,
perfectly fitting to different architecture: With high or
low profiles, plain or with sophisticated surface finishes
that prevent dirt sediment or help improve the indoor
climate through increased reflection of sun light. They
offer superior longevity and become stronger over
the years.
INTELLIGENT SURFACES
The improvement of tile surfaces is one of the areas
that play a particularly important role at Braas Monier.
Innovative surfaces with a micro mortar layer that closes
pores, for instance, significantly reduce the roughness of
the tiles. This makes it harder for dust and pollen to stick
to the tile while humidity drains and dries more easily.
INNOVATION – SMOOTH SURFACES
LOW PITCH ROOFING SYSTEM
This also applies to the Protegon generation of roof tiles, which
has been introduced in Germany. Their surface is equipped with a
reflective colour pigment and when the sun is shining they are
almost 20° C cooler than similar coloured roof tiles with standard
coating. This low temperature produces better indoor climate on
hot days, and lower energy consumption for air conditioning systems.
Architectural design trends shaped the demand for low pitched
roofs, where tiles usually are not applicable. To meet this trend
our engineers have developed special concrete tiles and a new
generation of roofing accessories to offer roofing solution for
pitches below 15°. The innovation lies in the aesthetic and
functional properties of these new roofing products.
13
14
Braas Monier Building Group
Complex Systems
Roofing has developed into a sophisticated business.
With ever rising demand for energy efficient building
envelopes and stricter national and super-national
regulations, the appreciation of modern roofs as a
holistic system has increased, making a full range of
additional components essential.
Company Profile
Detailed Solutions
Our systems approach to manufacturing and selling roof tiles
and components is unique in scope and we believe it offers a
highly valuable platform for generating future growth.
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16
Braas Monier Building Group
Roofing components
Modern roofs not only offer protection from the
elements, they also provide a variety of functions for
the home. With the appropriate roofing accessories,
our roofs transform into complete roof systems,
adding functionality, quality, security and an attractive
appearance to the roof. They perfectly match our
roofing tiles in colour and specification. Ever rising
energy efficiency and security standards increase the
importance of this system approach constantly.
With a large variety of quality roofing products we are
a global player in the components business. Six plants
in Germany, Denmark, Estonia and Malaysia provide
products for all Braas Monier country organisations.
RANGE OF PRODUCTS
•Ridge and hip
•Underlays
•Outlets (pitched and flat roofs)
•Snow & safety systems
•Gutters
•Valleys
•Windows
•Abutments
•Eaves
•Fixings
•Solar flashing
•Insulation (on-rafter, on-deck,
accessories)
Abutments
Underlays
Insulation
Snow & safety systems
ROOF OUTLETS – MULTI-PURPOSE-SYSTEMS
Roof outlets are an essential element of any roof as they allow for ventilation of the
house and attic space. They can also be used to support other applications which
have to be led through the roof, such as antennae or gas flues.
DuroVent is a well-known high quality outlet with multi-purpose usage. Besides
offering professional solutions for roof and house ventilation, a special base tile with
a unique clip-on system facilitates to fix a wide range of functional adapters on top,
such as for solar tubes or cables.
VENTILATED ROOF – FOR A BETTER CLIMATE IN THE ATTIC
Nowadays living space is expensive and in some regions scarce. More and more homeowners convert their loft into living space. Creating a comfortable indoor climate under
the roof makes high demands on the roof structure and roofing products. Braas Monier
offers particularly high-quality roofing accessories that not only protect the roof
construction from humidity from the outside, they also provide optimum ventilation
and conduction of moisture under the roof.
Company Profile
Schiedel – Effective chimney, energy and ventilation systems
Energy-efficient heating harbours the highest savings
potential in private households and hence contributes
significantly towards the protection of natural resources
and the environment. The chimney, an essential component of heating systems, is as decisive for the successful
application of energy-saving devices and the construction
of modern, airtight building shells as are ventilation
solutions. Our subsidiary Schiedel is Europe’s market
leader for chimney systems and one of the leading
specialists for energy systems. Based on 70 years of
experience Schiedel offers ideal products for a comfortable indoor climate to ensure well-being and less
consumption of costs and resources.
CHIMNEYS & ENERGY SYSTEMS
Ceramic and steel chimneys
Energy systems and fireplaces
• Ceramic and stainless steel
chimney systems for residential and non-residential applications
• Flexible systems for renovation purposes
• Pre-fabricated chimneys for
fast installation
• Energy management and
energy-efficient accessories
(chimney tops, roof and
wall transitions)
• Natural draft and hybrid
ventilation for multi-family
homes
• Ventilation system for single
family homes
• Ventilation system with heat
recovery
• Closed and open fireplaces,
including integrated stovechimney combinations
Steel
chimney
Ceramic
chimney
IMPROVING THE AIR QUALITY IN ANY HOUSE
If proper ventilation is lacking indoors, CO2 limits are quickly reached. Little or even
no ventilation leads to high air moisture in the interior which is absorbed by the
masonry and often causes mould to grow. This is not just unhealthy for people living
in such rooms, but also expensive. Additional heating is needed due to more window
ventilation.
Schiedel products simply eliminate such effects. Ideal combinations of chimneys,
KINGFIRE fireplaces and the ventilation system AERA EQONIC, which is approved
for passive houses, allow for an energy efficient heating and ventilation. They also
ensure great savings potentials in costs and resources along with a high quality of
life and a comfortable home.
Fireplace
Ventilation
System
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18
Braas Monier Building Group
Preserving Value
Preserving value by realising the full potential
of a modern roof poses a challenge for home
owners. Our comprehensive understanding of
the whole roof makes us a premium partner.
Vorwort
Company
des Vorstands
Profile
Decades of Experience
Braas Monier has been operating in the tiles business for
almost a century, growing into a global leader and forging
strong long-term relationships with our customers.
19
Braas Monier Building Group
20
A long standing tradition of high-quality roofing solutions
We have been making pitched roof products for almost a
century, and our expertise, developed over this extended
period of time, covers all steps of the manufacturing
process. Our brands have strong reputations and are
among the most prestigious in their markets. They offer
a broad range of quality products, systems and services,
1953/54
Foundation of
Braas in Germany
and acquisition of
majority stake by
Redland, start of
production at
Heusenstamm
plant
1920
››
››
2008
Lafarge Roofing is renamed
Monier and becomes an
independent company
1996
Foundation of Redland Braas
Building Group by merging the
roofing activities of Redland
and Braas
1997
Redland is acquired
by Lafarge, and renamed
Lafarge Roofing
1990
Schiedel becomes
part of Braas
1950
1970
›› ››
backed with strong customer relationships, absolute
reliability and global expertise. As leaders in their fields,
our brands are well established, trusted, respected and
successful. They stand for extensive experience and a
detailed understanding of their markets, making them
a perfect fit with their customers’ specific needs.
2000
››
1919
1969
Redland originated
as Redhill Tile
Company. The first
concrete roof tiles
were produced in
November
Redland acquires
Monier Ltd. in
Australia and
expands into Asia
1966
Foundation of Bramac
in Austria by Braas and
Hofman & Maculan
››
››
››
2001
Acquisition of
components
specialist
Kloeber
2014
Monier Group
renamed Braas
Monier Building
Group; successful IPO and
entry into
SDAX
2016
Acquisition
of J. A. Plastindustri,
Denmark
2010
››
››
2015
››
››
2011
Monier Group strengthens
presence in South-Eastern
Europe by acquiring 100 %
ownership of Bramac
2012
Acquisition of InDaX technology for roof-integrated PV
systems from Schott Solar.
››
››
2015
Acquisition of
Cobert, Spain
and Protugal,
Golden Clay
Industries,
Malaysia, and
Ceprano
Coperture,
Italy
Experienced people
Almost 8,000 employees in 50 countries across the
world are dedicated to delivering high quality products,
best services and innovation. They are focused on
satisfying our customers, be it the professional business
partners, like roofers, architects, merchants or specifiers
or ultimately the family who lives under a roof.
The local businesses are supported by internationally
working experts from all areas as well as cross-functional
teams in the Monier Technical Centre, the Roofing
Components business line and Group functions. By this
we ensure that performance improvements, product
innovation, good practices and experiences made in
one country are spread to other markets where they
deliver additional customer value.
Company Profile
Paired with the local in-depth experience of our
people in production and service, we are able to
sustain and enrich the long standing relationships with
our business partners – an asset we are proud of.
STRONG CUSTOMER RELATIONS
Knowing that the “human factor” is impor tant to
create customer satisfaction thus loyalty, it is our
priority to attract and retain people who have a
passion for even exceeding customer expectations.
All employees are encouraged to display imagination,
sound craftsmanship and technical skills, good
customer focus and entrepreneurial spirit. Our
managers are expected to lead by example.
We believe that everyone in our company should be
set clear objectives, receive honest feedback, and have
clearly defined career prospects. Our Performance
Management System helps to identify areas where
our employees excel, as well as those where more
development is needed. This involves setting personal
objectives, appraisal interviews and 360-degree
feedback.
PEOPLE DEVELOPMENT
Our people development initiatives provide our
employees with the skills and competencies they
need to fulfill their job for the business. Expected
qualifications and competencies are compared
with actual ones to identify individual training and
development needs. Beside the professional
competencies, we focus on leadership and social
skills.
Based on these results, the development of all of our
employees lays the foundation of Braas Monier’s future
success.
We train our people on the line, shift leaders and
production managers – a key lever of our Factory
Excellence Programme, focusing on customer satisfaction,
cost consciousness and industrial as well as leadership
skills on all levels.
We train our junior managers in regional Management
Development programmes to qualify them for future
jobs in the company and to foster the networking
across countries.
And we constantly train our people on new products
and installation techniques, value argumentation and
sales skills to enable them to professionally support our
partners and customers in taking the right decision
when it comes to the choice of roofing materials or
their specific roofing project. Always with a local focus
but the backing of global experiences.
EMPLOYEES SPLIT BY FUNCTION
Production
72.1
Sales and
Marketing
19.9
2015
in %
Administration
8.0
21
22
Braas Monier Building Group
Global Footprint
With more than 100 plants in almost 30 countries,
Braas Monier has a well-established plant network
allowing it to successfully serve individual customer
needs in mature European markets as well as in
emerging markets in Asia.
Vorwort
Company
des Vorstands
Profile
Local Business
Regional preferences play a major role in roof tile aesthetics – especially
with regard to shape, colour and surface, the material used and the
way roofs are constructed. Local building traditions as well as the high
weight-to-value ratio require direct proximity to customers.
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24
Braas Monier Building Group
01
Headquarters Welsh Joint Education
Committee, Cardiff, Wales, UK
Redland Rosemary
02
Designer house, Grönnemose,
Denmark
Monier B&C black
04
01
03
02
05
03
Terraced housing, Rosmalen,
The Netherlands
Monier Stonewold Natura anthracite
04
06
09
Car factory, Moravia,
Czech Republic
Schiedel Chimney Systems
07
Hospital, Vasque Country, Spain
Clay Tile Lógica Marselha
08
Pink house, vacation home
near Stockholm, Sweden
Schiedel Isokern chimney
05
City Council, Alsfeld,
Germany
Braas Achat 13
07
06
08
Single family house, Northern Italy
Braas Coppo Domus
09
Earlscourt Lifestyle Estate, George,
Southern Cape, South Africa
Coverland Cupola Kalahari
Company Profile
10
Town houses, Hangzhou City, China
Monier Galaxy Shake/Forest Thatch,
dry fix system, reflective underlay,
abutments
11
10
Straits Quay Mall, Shopping Centre,
Penang, Malaysia
Monier Legacy Roof System
12
11
12
Grand Hyatt Hotel, Goa, India
Monier Elabana
GLOBAL FOOTPRINT – LOCAL BUSINESS
Our comprehensive range of products – tiles, components
and chimney and energy systems – is completed by a
variety of services aimed at creating long-lasting value
for our market partners. If they are successful, we will be.
Therefore, we constantly monitor our customers’ markets
and business environments, and work alongside roofers,
distributors and contractors to identify future market
opportunities and develop strategies together.
Our products and services enable our market partners
to provide tailor-made solutions to their customers.
We also tailor offers to specific segmented target
groups and offer complete product systems. We
operate country-specific roofer networks and provide
them with information on developments in the industry,
train them in state-of-the-art roofers’ skills and provide
useful marketing tools.
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26
Braas Monier Building Group
Sophisticated Research & Development
As a premium supplier, Braas Monier has always striven to
be at the forefront of developments and to shape future
markets. Our unrivaled Research & Development facilities
provide us with deep material and product know-how,
enabling us to constantly innovate in products and roofing
systems.
Vorwort
Company
des Vorstands
Profile
Setting Standards
The industrial process of producing concrete tiles was introduced
during the 20th century, pioneered by our sudsidiaries Redland in
the UK and Braas in Germany. In several emerging markets, we
were the first company to introduce concrete tiles to the market.
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Braas Monier Building Group
Setting standards
Braas Monier has a dedicated in-house team of product
designers, engineers and materials scientists who work
closely with equipment manufacturers and external
specialists to develop new and improved products.
Advanced techniques such as Computer Aided Design
or 3D printing are used for detailed design and
visualisation of products. These resources are applied to
the development of concrete tiles, clay tiles, fittings and
accessories as well as functional and aesthetic coatings.
Manufacturing of a new product is only the last step of an
extensive programme of development, engineering, trials
and testing before the implementation is carried out.
INTENSE PRODUCT TESTING
EXPERTS AT WORK
Setting standards with our product testing methods we expose our
products to Sunlight simulation and UV radiation, Acid rain, Freezethaw resistance and Thermal shock testing. We test the ease of
laying and use of our products internally and together with our
key customers across the world. Our weathering stations in eight
countries worldwide additionally help us to simulate and predict the
durability of our products many years into the future in all types of
climate conditions.
The technical experts at Braas Monier drive the sharing of product
and production know-how through people networks, training
courses and an in-house consulting in many industrial and product
related fields. Experiences made in one of our countries and plants
And we test our roofing products in a wind tunnel unique to the
industry. The wind tunnel can simulate wind and rain conditions
found in a wide range of climate zones worldwide. The simulations
even include situations which typically arise only every 50 years.
Only when the new roofing materials have passed the wind tunnel
trials as well as several other hardness tests and long-term ageing
tests, does Braas Monier release its innovations for sale.
Excellent performance and ease of use on the roof
are vital to the success of our roofing systems. Our
test facilities allow us to analyse the performance of
our products under all climatic conditions – a clear
requirement given the variety of our local markets.
are facilitated by the technical teams and spread across the Group
to improve performance and efficiency of our plants for better
quality products. Our Technical Centre and our business units have
more than 50 years of experience in roofing. We devote more
resources to roofing development, and have more know-how
than any other roofing company in the world.
Last but not least, experts of the Technical Centre are actively
involved in the development of national and international industry
standards in several boards, associations and organisations to
make sure that our high product standards make it into norms
and standards for the benefit of the customer.
Braas Monier Building Group
Sophisticated ResearchCompany
& Development
Profile
THE TECHNICAL CENTRE IN NUMBERS
Location
• 2 locations Heusenstamm near Frankfurt a.M. (Germany)
and Crawley, South of London (UK)
Qualifications
• 1 00 employees – geologists, material scientists, chemists, physicists, product designers and engineers –
with more than 20 years of experience in average within the Technical Centre
Support
• to 71 concrete and 20 clay tile plants worldwide
Weather stations
• 8 in 8 countries
Wind tunnel facilities
• almost 130 different roof tiles and systems wind tunnel tested in 2015 alone, validated with 750 tests
Designs
• 3,500 Tooling designs
Coatings
• more than 250 profiles/coatings
Date Base of know-how
• Standard operating procedures: 960,000 data files / 32,000 technical notes
29
30
Braas Monier Building Group
KEY FINANCIAL INFORMATION
PROFIT AND LOSS
(EUR MILLION)
Revenues
thereof Western Europe
thereof Central, Northern & Eastern Europe
thereof Southern Europe
thereof Asia & Africa
thereof Chimneys & Energy Systems
thereof Central Products & Services
Reconciliation / inter-segment revenues
Gross Profit
in % of revenues
Operating EBITDA(1)
in % of revenues
thereof Western Europe
thereof Central, Northern & Eastern Europe
thereof Southern Europe
thereof Asia & Africa
thereof Chimneys & Energy Systems
thereof Central Products & Services
Operating income(1)
in % of revenues
Non-operating result(1)
EBIT
in % of revenues
Net financial result
Income taxes
Profit (Loss) for the period
Net income per share in EUR(2)
OTHER KEY FINANCIAL FIGURES
(EUR MILLION)
2011
2012
2013
2014
2015
Change
1,354.7
331.4
486.0
199.7
132.3
200.7
140.6
-136.0
337.9
24.9 %
162.5
12.0 %
35.1
60.7
39.1
18.6
22.5
-13.6
60.3
4.5 %
-20.5
39.8
2.9 %
-69.4
-5.5
-35.1
-0.90
1,303.3
304.5
458.0
206.1
145.5
192.2
114.0
-116.9
311.1
23.9 %
129.2
9.9 %
26.7
54.4
25.3
20.6
19.9
-17.7
23.6
1.8 %
-194.0
-170.4
-13.1 %
-65.9
22.6
-213.7
-5.46
1,219.1
289.8
428.1
198.4
135.3
181.4
102.4
-116.3
320.8
26.3 %
158.4
13.0 %
27.8
59.2
28.7
22.8
23.0
-3.1
67.9
5.6 %
-61.6
6.3
0.5 %
-84.9
9.6
-69.1
-1.76
1,211.3
304.1
427.4
184.5
136.2
173.0
99.4
-113.3
345.7
28.5 %
195.4
16.1 %
43.3
72.2
33.7
24.4
24.8
-3.0
105.6
8.7 %
9.2
114.8
9.5 %
-58.2
-16.8
39.8
1.02
1,256.7
320.8
429.5
215.5
130.9
170.4
98.1
-108.5
355.9
28.3 %
196.8
15.7 %
48.3
72.2
36.8
21.6
23.0
-5.2
110.6
8.8 %
13.0
123.6
9.8 %
-41.6
-26.8
55.1
1.41
3.8 %
5.5 %
0.5 %
16.8 %
-3.9 %
-1.5 %
-1.2 %
2.6 %
3.0 %
0.7 %
11.7 %
0.0 %
9.2 %
-11.6 %
-7.1 %
3.2 %
4.8 %
40.5 %
7.6 %
31.4 %
59.7 %
38.6 %
38.6 %
Dec 31
2011
Dec 31
2012
Dec 31
2013
Dec 31
2014
Dec 31
2015
340.2
1,324.6
4.6 %
90.9
1,353.5
1.7 %
16.2
1,076.3
6.3 %
92.9
1,010.8
10.4 %
147.0
1,029.6
10.7 %
58.3 %
1.9 %
Net cash from operating activities
Capital expenditure(1) / (5)
Cash and cash equivalents
External financial debt(6)
Net debt(7)
Net debt / operating EBITDA(1)
105.6
66.5
231.8
692.5
460.7
2.8 x
76.0
52.9
273.5
705.7
432.2
3.3 x
26.9
50.2
207.5
656.9
449.4
2.8 x
65.4
60.6
180.9
518.4
337.4
1.7 x
121.9
59.4
183.4
518.2
334.8
1.7 x
86.5 %
-1.9 %
1.4 %
0.0 %
-0.8 %
Employees, full-time equivalents at end of period
9,210
8,507
7,307
7,300
7,735
6.0 %
Equity
Invested Capital(1) / (3)
Return on Invested Capital (ROIC)(4)
Non-IFRS-GAAP figure
Profit (Loss) for the period (attributable to equity holders of the parent company) divided by the number of shares outstanding 39,166,667 of 31 December 2015
(3)
Defined as intangible assets plus tangible assets plus inventories plus trade and other receivables minus total payables
(4)
Operating income divided by average of twelve months invested capital for the period
(5)
Defined as additions to property, plant & equipment
(6)
Defined as repayable amount of senior debt, other financial liabilities and short-term loans, excl. accrued interest and capitalised finance fees and liabilities
related to earn-out clauses
(7)
Calculated as external financial debt minus cash and cash equivalents
2011 – 2013 figures restated for IFRS 11. Due to rounding, slight discrepancies in totals and percentage figures may occur.
(1)
(2) Change
Company Profile
CONCRETE TILE PRODUCTION PROCESS
04
08
Maturing
09
Shipping
07
Packaging
Tiles go into
the curing
chamber to
get early
strength
05
02
06
Tiles are taken
off the pallets
Concrete extruded
on aluminium pallets
05
Pallets go
back onto
processing
ring
02
Clay preparation/grinding
Coating of tiles
03
01
Start
Second coating, finalisation
and quality control
Concrete
is mixed
CLAY TILE PRODUCTION PROCESS
Start
01
Raw materials storage
Storage
Clay pit
06
07
Panmill
05
Tiles are formed
by presses
Extrusion
04
un-load
drying tray
Dryer
Revolving
press
Coating
load
H-cassette
09
Preparation for
extrusion
Extruder
load
drying tray
Screenfeeder
extruded
tiles
Engobe/
Glazing
cutting
Pre
heater
Tunnel
kiln
un-load
H-cassette
Storage to ensure
consistent quality
Sump
Rollmill
Drying to lower
humidity from
~20% to <3%
pressed
tiles
08
Feeder
03
cutting
Clay silo
Extruder
Quality
inspection
Mini-pack
Strap banding
11
Firing in kiln up to 1,080 °C
Scrab
10
Quality
control
Packaging
12
Yard storage
and shipping
31
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4, rue Lou Hemmer
L-1748 Senningerberg
http://www.braas-monier.com