Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Buzzi Unicem Investor Presentation 2018

Apr 4, 2019

4218_ip_2019-04-04_f1619ecc-3967-4627-96d0-7e3e6d0a0a4d.pdf

Investor Presentation

Open in viewer

Opens in your device viewer

Engineering & Construction Conference

Milan – 4 April 2019

Executive summary FY 2018

Volumes

  • – Cement up in Q4 and +4.3% YTD (lfl +1.0%). Ready-mix concrete down 1.6% YTD, mostly due to the restructuring in Italy
  • – Italy: thanks to scope changes, export and clinker, cement is up 13.3% YTD (+0.5% lfl); ready-mix down, mostly referring to the lower number of batching plants directly managed
  • –United States: Q4 slightly positive but YTD cement down 1.1% and ready mix almost flat
  • – Central Europe: cement volumes up in Q4 and + 5.4% YTD, with Germany up 7.9%, thanks to Seibel & Söhne (lfl +1.8%); ready-mix concrete YTD almost flat in Germany but well ahead in Benelux
  • – Eastern Europe: positive cement volumes YTD (+2.2%); the progress realized in the Czech Republic (+9.6%), Poland (+6.5%) and Russia (+5.4%) more than offsets the weakness in Ukraine (-11.8%); favorable trend confirmed for ready mix concrete (+7.3%) particularly in the Czech Republic and Poland

  • Prices

  • – Favorable variances in all markets

  • Foreign Exchange
  • – Negative impact on sales (€m 74.3) mainly due to weaker dollar (€m 48.6), ruble (€m 22.8) and hrivnia
  • Results
  • – Revenues at €m 2,873.5 versus €m 2,806.2 in 2017
  • – Net debt at €m 891 versus €m 863 at year end 2017, after acquisitions of €m 44 for Seibel & Soehne and €m 161 for 50% of Brennand Cimentos, expansion capex of €m 31, buy back of shares of €m 118

Volumes

Price index by country

In local currency; FY15 = 100

FX changes

2
0
1
8		 2
0
1
7		 ∆ 2
0
1
6		 t
c
u
r
r
e
n
E
U
R
1
=		 a
g
v		 a
g
v		 % a
g
v
U
S
D		 1.
1
8		 1.
1
3		 4
5
-		 1.
1
1		 1.
1
2
R
U
B		 7
4
0
4		 6
9
4
5		 1
2
3
-		 7
4
1
4		 7
2
8
6
U
A
H		 3
2
1
1		 3
0
0
2		 0
7
-		 2
8
2
8		 3
0
6
0
C
Z
K		 2
5
6
5		 2
6
3
3		 2
6
+		 2
7
0
3		 2
8
0
5
P
L
N		 4
2
6		 4
2
6		 0
1
-		 4
3
6		 4
3
0
M
X
N		 2
2
1
7		 2
1.
3
3		 6
5
-		 2
0
6
7		 2
1.
6
9

Net sales by country

2
0
1
8		 2
0
1
7		 ∆ ∆ F
o
r
e
x		 S
c
o
p
e		 l-
f-
l
∆
E
U
R
m		 b
a
s		 % b
a
s		 b
a
s		 %
I
t
l
a
y		 4
9
8
5		 4
2
8
7		 3
2
0		 7
5
+		 - 3
6.
0		 0.
9
-
U
i
d
S
t
t
t
n
e
a
e
s		 1,
0
6
9
6		 1,
1
1
0
6		 (
)
4
0
9		 3
7
-		 (
4
8.
6
)		 - 0.
7
+
G
e
r
m
a
n
y		 6
3
2
5		 8
8
0
5		 4
4
5		 6
7
+		 - 1
6.
9		 4.
7
+
/
L
N
t
h
l
d
u
x
e
e
r
a
n
s		 1
9
7
1		 1
8
6
8		 1
0
3		 5
5
+		 - - 5.
5
+
C
/
S
h
R
l
k
i
z
e
c
e
p
o
v
a
a		 1
6
4
5		 1
4
7
9		 1
6
6		 1
1.
2
+		 3.
3		 - 9.
0
+
P
l
d
o
a
n		 1
1
1.
4		 9
0
7		 1
4
4		 1
4
8
+		 (
)
0.
1		 - 1
5.
0
+
U
k
i
r
a
n
e		 8
8
3		 9
4
5		 (
6
2
)		 6
6
-		 (
6.
1
)		 - 0.
1
-
R
i
u
s
s
a		 1
8
5
5		 1
8
3
4		 1.
2		 0
6
+		 (
2
2.
8
)		 - 1
3.
0
+
E
l
i
i
t
i
m
n
a
o
n
s		 (
3
5.
3
)		 (
3
0.
7
)		 (
4.
6
)
T
l
t
o
a		 2
8
7
3
5
,		 2
8
0
6
2
,		 6
7
2		 2
4
+		 (
4.
3
)
7		 2.
9
5		 3.
2
+
M
i
(
1
0
0
%
)
e
c
o
x		 6
2
4
7		 6
8
6
1		 (
6
1.
4
)		 9
0
-		 (
)
4
0.
3		 - 3.
1
-

EBITDA by country

2
0
1
8		 2
0
1
7		 ∆ ∆ F
o
r
e
x		 S
c
o
p
e		 l-
f-
l
∆
E
U
R
m		 b
a
s		 % b
a
s		 b
a
s		 %
I
t
l
a
y		 (
1.
7
)		 (
7
9
7
)		 7
7
9		 9
7
8
+		 - 4.
8		 9
1.
8
+
S
U
A		 3
4
1.
2		 3
6
9
6		 (
)
2
8
4		 7
7
-		 (
1
)
5.
5		 - 3.
5
-
G
e
r
m
a
n
y		 8
2
5		 7
7
9		 4
5		 5
8
+		 - (
5.
9
)		 1
3.
4
+
L
/
N
h
l
d
t
e
e
r
a
n
s
u
x		 2
3
1		 1
7
6		 5
5		 3
1.
4
+		 - - 3
1.
4
+
C
h
R
/
S
l
k
i
e
c
e
p
o
a
a
z
v		 4
3
6		 3
6
6		 7
0		 1
9
2
+		 1.
1		 - 1
6.
1
+
P
l
d
o
a
n		 3
1.
9		 2
2
4		 6
7		 3
1.
5
+		 0.
0		 - 3
1.
6
+
U
k
i
r
a
n
e		 0
7		 1
6
0		 (
9
0
)		 6
0
5
-		 (
)
0.
5		 - -5
2.
9
R
i
s
s
a
u		 0
1
5		 4
6
0		 4
1		 9
0
+		 (
6.
2
)		 - 2
2.
3
+
E
l
i
i
i
t
m
n
a
o
n
s		 (
0,
4
)		 (
0,
1
)		 (
0.
3
)
T
t
l
o
a
i
r
e
c
r
r
n
g
u		 5
7
7
2
5
6
8.
5		 5
0
8
2
5
7
6.
4		 6
9
0
(
)
7.
9		 1
3
6
+
1.
4
-		 2
1.
1
-
2
1.
5
-		 (
1.
1
)
(
1.
1
)		 1
8.
0
+
2.
6
+
M
i
(
%
)
1
0
0
e
x
c
o		 2
8
9
0		 3
2
9
3		 (
)
4
0
3		 1
2
2
-		 (
)
1
8.
7		 - 6.
6
-

pag

Net sales and EBITDA development

  • Italy improving, thanks to Zillo contribution, and, at long last, positive
  • USA drops under 2/3 of the consolidated EBITDA
  • Favorable trend in Central and Eastern Europe

EBITDA variance analysis

Consolidated Income Statement

2
0
1
8		 2
0
1
7		 ∆ ∆
E
U
R
m		 b
a
s		 %
S
N
t
l
e
a
e
s		 2
8
7
3
5
,		 2
8
0
6
2
,		 6
7
2		 2
4
+
E
B
I
T
D
A		 2
5
7
7		 0
8
2
5		 6
9
0		 1
3
6
+
f
h
i
h,
i
o
w
c
n
o
n
r
e
c
u
r
r
n
g		 (
8.
7
)		 6
8.
2
%
f
l
(
i
)
o
s
a
e
s
r
e
c
u
r
r
n
g		 1
9.
8
%		 2
0.
5
%
D
i
i
d
i
i
t
t
t
e
p
r
e
c
a
o
n
a
n
a
m
o
r
a
o
n
z		 (
2
2
4
)
5		 (
2
2
2
1
)		 (
3
2
)
O
f
t
i
i
t
(
)
p
e
r
a
n
g
p
r
o
E
B
I
T		 3
1.
8
5		 2
8
6
0		 6
8
5		 2
3
0
+
%
f
l
o
s
a
e
s		 %
1
2.
2		 %
1
0.
2
E
i
t
i
q
u
y
e
a
r
n
n
g
s		 8
8
7		 9
7
7		 (
)
9
0
f
N
t
i
t
e
n
a
n
c
e
c
o
s
s		 2
4
7		 (
)
3
5
0		 5
9
8
P
f
i
t
b
f
t
r
o
e
o
r
e
a
x		 4
6
5
3		 3
4
8
7		 1
1
6
6		 3
3
4
+
I
t
n
c
o
m
e
a
x
e
x
p
e
n
s
e		 (
8
2
5
)		 4
5
9		 1
2
8
4
f
N
t
i
t
e
p
r
o		 3
8
2
8		 3
9
4
6		 (
)
1
1.
8		 3
0
-
M
i
i
t
i
n
o
r
e
s		 (
0
6
)		 (
3
0
)
C
l
i
d
t
d
t
f
i
t
o
n
s
o
a
e
n
e
p
r
o		 3
8
2
1		 3
9
1.
6		 (
9
5
)		 2
4
-

Consolidated Cash Flow Statement

E
U
R
m		 2
0
1
8		 2
0
1
7
C
h
t
d
f
t
i
a
s
g
e
n
e
r
a
e
r
o
m
o
p
e
r
a
o
n
s		 4
5
3
4		 5
0
6
6
%
f
l
o
s
a
e
s		 1
5.
8
%		 1
8.
1
%
I
i
d
t
t
n
e
r
e
s
p
a		 (
4
5
4
)		 (
4
3
9
)
I
i
d
t
n
c
o
m
e
a
x
p
a		 (
7
6
4
)		 (
9
1.
9
)
N
t
h
b
t
i
t
i
i
t
i
e
c
a
s
y
o
p
e
r
a
n
g
a
c
v
e
s		 3
3
1.
6		 3
7
0
8
%
f
l
o
s
a
e
s		 1
1.
5
%		 1
3.
2
%
C
i
t
l
d
i
t
a
p
a
e
x
p
e
n
u
r
e
s		 (
)
2
1
5
3		 (
)
1
8
3
7
E
i
i
t
t
t
q
n
e
s
m
e
n
s
u
y
v		 (
2
2
8
)
5		 (
3
3
9
)
f
P
h
t
h
u
r
c
a
s
e
o
r
e
a
s
u
r
y
s
a
r
e
s		 (
)
1
1
8
7
D
i
i
d
d
i
d
e
n
s
p
a
v		 (
2
8
6
)		 (
2
2
0
)
D
i
i
d
d
f
i
t
e
n
s
r
o
m
a
s
s
o
c
a
e
s
v		 8
0
9		 8
3
5
D
i
l
f
f
i
d
d
i
t
t
t
s
p
o
s
a
o
x
e
a
s
s
e
s
a
n
n
v
e
s
m
e
n
s		 4
5
2		 1
2
5
f
f
T
l
t
i
d
i
d
d
i
t
i
r
a
n
s
a
o
n
e
r
e
n
c
e
s
a
n
e
r
v
a
v
e
s		 9
0
1		 (
)
4
0
2
A
d
i
t
t
b
l
c
c
r
u
e
n
e
r
e
s
p
a
y
a
e		 3
5		 (
)
1.
4
I
i
d
t
t
n
e
r
e
s
r
e
c
e
e
v		 1
4
4		 9
7
C
t
i
t
l
i
b
i
l
i
t
i
o
n
n
g
e
n
a
e
s		 (
)
5
6
4
C
h
i
l
i
d
t
i
d
t
h
a
n
g
e
n
c
o
n
s
o
a
o
n
a
r
e
a
a
n
o
e
r		 (
2
6
)		 (
6
1.
5
)
C
h
i
t
d
b
t
a
n
g
e
n
n
e
e		 (
2
8
0
)		 (
9
1
)
7
N
f
i
i
l
i
i
(
d
f
i
d
)
t
t
e
n
a
n
c
a
p
o
s
o
n
e
n
o
p
e
r
o		 (
8
9
0
5
)		 (
8
6
2
5
)

Net Financial Position

D
1
8
e
c		 1
D
7
e
c		 ∆ S
1
8
e
p
E
U
R
m		 b
a
s
C
h
d
h
f
i
i
l
t
t
a
s
a
n
o
e
r
n
a
n
c
a
a
s
s
e
s		 4
0
5
7		 8
2
9
9		 (
3
9
2
)
7		 6
4
4
2
S
h
d
b
t-
t
t
o
r
e
r
m
e		 (
3
8
7
3
)		 (
4
2
4
7
)		 3
7
4		 (
3
1
3
5
)
N
h
h
t
t-
t
e
s
o
r
e
r
m
c
a
s		 6
3
4		 4
0
2
5		 (
3
4
1.
8
)		 3
3
0
7
f
L
t
i
i
l
t
o
n
g
e
r
m
n
a
n
c
a
a
s
s
e
s
-		 4
3		 3
2		 1.
1		 3
7
L
d
b
t
t
o
n
g
e
r
m
e
-		 (
9
8
2
)
5		 (
1,
2
7
0
8
)		 3
1
2
7		 (
1,
0
7
8
)
5
N
t
d
b
t
e
e		 (
8
9
0
5
)		 (
8
6
2
5
)		 (
2
8
0
)		 (
7
2
3
4
)

Gross debt breakdown (€m 1,345.4)

Expected trading in 2019

V
l
∆
o
m
e
u		 P
i
∆
r
c
e
I
l
t
a
y
U
i
t
d
S
t
t
f
A
i
n
e
a
e
s
o
m
e
r
c
a
G
e
r
m
a
n
y
L
b
u
x
e
m
o
u
r
g
C
h
R
b
l
i
z
e
c
e
p
u
c
P
l
d
o
a
n
U
k
i
r
a
n
e
R
i
u
s
s
a
M
i
e
c
o
x

pag

Appendix

Buzzi Unicem at a Glance

  • International multi-regional, "heavy-side" group, focused on cement, ready-mix and aggregates
  • Dedicated management with a long-term vision of the business
  • Highly efficient, low cost producer with strong and stable cash flows
  • Successful geographic diversification with leading positions in attractive markets
    • Italy (# 2 cement producer), United States (# 4 cement producer), Germany (# 2 cement producer), joint venture in Mexico and Brazil
    • Significant positions in Luxembourg, The Netherlands, Poland, Czech Republic, Slovakia, Russia and Ukraine, as well as entry point in Slovenia and Algeria
  • High quality and environmentally friendly assets
  • Leading product and service offering
  • Conservative financial profile and balanced growth strategy

"Value creation through lasting, experienced know-how and operating efficiency"

Shares & Shareholders

As at 31 December 2018

Cement plants location and capacity

2018 Consumption vs. Peak

Historical series of cement consumption by country

Historical EBITDA development by country

EU
Rm		 20
11		 20
12		 20
13		 20
14		 20
15		 20
16		 20
17		 20
18
Ita
ly		 EB
ITD
A		 10
.3		 -5.
9		 -18
.1		 -18
.7		 -37
.2		 -22
.2		 -79
.7		 -1.
7
in
ma
rg		 1.8
%		 -1.
2%		 2%
-4.		 -4.
8%		 -9.
8%		 9%
-5.		 .6%
-18		 4%
-0.
Ge
rm
an
y		 EB
ITD
A		 90
.3		 72
.2		 108
.1		 88
.6		 72
.1		 76
.8		 77
.9		 82
.5
in
ma
rg		 14.
2%		 12.
0%		 18.
0%		 14.
7%		 12.
6%		 13.
4%		 13.
3%		 13.
0%
Lu
x/
Ne
the
rla
nd
s		 EB
ITD
A		 35
.0		 8.3 11
.5		 15
.6		 19
.7		 25
.8		 17
.6		 23
.1
in
ma
rg		 15.
7%		 4.3
%		 6.3
%		 9.7
%		 11.
7%		 14.
7%		 9.4
%		 11.
7%
Cz
h
Re
/
ec
p
Slo
kia
va		 EB
ITD
A		 35
.2		 25
.4		 19
.2		 27
.0		 32
.6		 34
.3		 36
.6		 43
.6
in
ma
rg		 20
.5%		 17.
0%		 14.
6%		 20
.2%		 24
.0%		 25
.2%		 24
.7%		 26
.5%
Po
lan
d		 EB
ITD
A		 36
.9		 21
.8		 27
.1		 18
.2		 22
.7		 23
.4		 24
.2		 31
.9
in
ma
rg		 26
.6%		 20
.0%		 26
.8%		 20
.4%		 .4%
20		 .5%
24		 24
.9%		 .6%
28
Uk
rai
ne		 EB
ITD
A		 6.9 15
.8		 12
.3		 11
.0		 4.0 12
.8		 16
.0		 7.0
in
ma
rg		 6.2
%		 11.
8%		 10.
0%		 12.
5%		 5.7
%		 16.
1%		 16.
9%		 8.0
%
Ru
ia
ss		 EB
ITD
A		 65
.7		 96
.1		 92
.6		 73
.4		 48
.4		 48
.2		 46
.0		 50
.1
in
ma
rg		 .4%
37		 41
.0%		 .2%
37		 .0%
35		 .0%
29		 .0%
28		 24
.9%		 27
.0%
EB
ITD
A		 71
.4		 123
.9		 15
1.0		 20
7.3		 31
1.7		 35
6.5		 36
9.6		 34
1.2
US
A		 in
ma
rg		 8%
12.		 18.
2%		 .7%
20		 24
.2%		 28
.1%		 31
.9%		 33
.0%		 31
.9%
Me
xic
o		 EB
ITD
A		 82
.6		 97
.5		 77
.5		 Ad
tio
of
op
n
IFR
S 1
1
in
ma
rg		 34
.7%		 36
.2%		 33
.2%
EB
ITD
A		 43
4.3		 45
5.1		 48
1.2		 42
2.7		 47
3.2		 0.6
55		 50
8.2		 7.2
57
Co
ns		 oli
da
ted		 in
ma
rg		 .6%
15		 .2%
16		 17
.5%		 .9%
16		 17
.8%		 .6%
20		 .1%
18		 20
.1%

More from Buzzi Unicem

Report Publication Announcement 2026
May 25
Environmental & Social Information 2026
May 25
Report Publication Announcement 2026
May 25
Governance Information 2026
May 25
Regulatory Filings 2026
May 25
AGM Information 2026
May 25
Transaction in Own Shares 2026
May 25
Transaction in Own Shares 2026
May 25
Report Publication Announcement 2026
May 22
Investor Presentation 2026
May 22
View all filings →