2014 Results Investor Presentation

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "2014 Results Investor Presentation"

Transcription

1 2014 Results Investor Presentation Giovanni Ferrario, COO 10 th Exane BNP Paribas Basic Materials Conference Italcementi London, 4 maggio 24 Group 2012 March 2015 Title 1

2 Agenda 2014 Group Results 2015 Outlook and Actions Italcementi Group Exane BNPP BM Conference 24 March

3 2014 in summary Project i.150 Completed Industrial Efficiency Improved Simplified and strengthened Group equity structure, moving from three to one class of shares: Savings shares mandatory conversion 500M Capital Increase earmarked to Ciments Français minorities buy-out Rezzato and Devnya revampings completed 2 coal grinders in Egypt on track Alternative Fuels at 11% (9.3% in 2013) 68M cost reduction in line with targets 2014 Targets Achieved Return to Growth in Rec. EBITDA: +20M at 649M Net Financial Debt contained at 2,157M after ~500M CapEx Innovation and marketing focus (i.nova system): Innovation Rate grows to 6.6% (5.3% in 2013), with 271M in revenues (+21%) Italcementi Group Exane BNPP BM Conference 24 March

4 Q4 and FY 2014 in summary Overall good volume recovery mitigated by weakness in France/Belgium Favorable pricing trends in non-european markets support revenue levels. Pressure in Europe FY EBITDA margin up to 15.6% (vs. 14.9% in 2013) Italy, Spain and Thailand offset France/Belgium Stronger FY EBIT improvement on lower D&A and Impairments Q4 +2.7% cement & clinker volumes % chg -0.6% like for like revenues % chg +19M rec. EBITDA chg ex CO2 & FX +15M (+29.8%) FY % cement & clinker volumes % chg -0.7% like for like revenues % chg +17M rec. EBITDA chg ex CO2 & FX +67M (+42.3%) Net Debt increase on major investments. Rezzato and Devnya revampings completed, coal grinding in Egypt on track Leverage under control -223M Change in NFP from Dec. 31, x Net Debt / Rec. EBITDA Italcementi Group Exane BNPP BM Conference 24 March

5 Sales volumes and revenue FY14 cement volumes stabilized after 6-y downturn; good Q4. Contraction of aggregates and RMX. L-f-l FY2014 revenue slightly below 2013 level (-0.7%; -1.6% volume and +0.9% price effect). Negative FX effect in FY but Q4 turned positive Trading Asia EENAME NA CWE Q4 chg. Cement and Clinker (mt) by Area 43.1(*) % (*) +2.7% +2.9% % % % +5.8% % -0.7% % Asia EENAME NA CWE Asia EENAME NA CWE Aggregates (mt) % % FY 2013 FY 2014 Ready-mix (mm3) % (**) -10.2% Others Trading Asia EENAME NA CWE Revenue by Area M (after eliminations) 4, , % -0.7% -2.8% +2.9% +8.0% +9.6% +6.0% +6.1% -8.4% -8.4% Like-for-like 4, ,975 FY 2013 FY 2014 FY 2013 FY 2014 FY 2013 FY 2014 (*) Including eliminations for 3.7mt in 2014 and 2.5mt in 2013 (**) -7.0% on a like-for-like basis 2014 perimeter Italcementi Group Exane BNPP BM Conference 24 March

6 2014 Rec. EBITDA variance analysis by driver Q4 performance brings FY 2014 Rec. EBITDA improvement close to expectations FY 2014 vs. FY 2013 M % margin Recurring EBITDA FY (32) (31) Volume Price Variable Costs Q vs. Q M (40) 37 Excluding Egypt Fixed Costs 27 Other Operating Costs Italcementi Group Exane BNPP BM Conference 24 March (9) Of which : CO 2 sales: 12 Scope & FX +17M vs. FY 13 ex. CO 2 & FX 157 (8) 4 (9) % margin Recurring EBITDA FY M vs. Q4 13 ex. CO 2 & FX Volume effect dragged down by France/Belgium but positive trends confirmed in NA and Thailand while Spain and Greece showed signs of recovery Excluding Egypt: Price/variable cost spread almost neutral in 2014 reflecting efficiency actions in an overall deflationary environment After the resolution of production issues, positive fixed cost results are now more visible FY FX effect is negative due to Thailand and Egypt, with a reversal trend in Q4

7 2014 Cash Flow Net Debt grows on CapEx effort but contained below original target FY 2014 M N.F.P FY 2013 M (1,991) (336) N.F.P Cash Flow (1,934) 369 Of which: Italy: (119) F/B: (82) Egypt: (62) India: (57) Bulgaria: (57) WC Change (*) CapEx 22 Equity Invest. Industrial & Equity Divestm. Dividends Of which: ITC Spa: (17) CF: (9) Egypt: (27) Morocco: (23) (4) 37 (84) 7 (1,934) (*) Including change in payables of -21M as of December 14 and +80M as of December Equity Issue 487 CF PTO & Related Net effect: 30 (519) (4) (83) (457) (63) (2,157) Italcementi Group Exane BNPP BM Conference 24 March Others N.F.P N.F.P Strong control on Working Capital maintained Increase in CapEx vs driven by Revamping in Rezzato (Italy) and Devnya (Bulgaria) Coal grinding and environmental compliance in Egypt Network development in India FX translation impacts year-end NFP by 29M

8 Agenda 2014 Group Results 2015 Outlook and Actions Italcementi Group Exane BNPP BM Conference 24 March

9 2015 environment and strategic guidelines Macro environment Construction Strategic guidelines 2015 GDP in our markets to experience moderate acceleration vs Falling commodity prices Euro depreciation supporting EBITDA translation, neutral on leverage ECB stimulus (QE) expected to maintain low interest rates in Europe Still divergent but improving market dynamics: Mature Markets: Italy and France still in contraction but at lower speed, North America rising solidly Emerging Markets: Egypt and India the most attractive, growth in Thailand, Morocco still sluggish Market focus exploiting branding and innovation Selective growth initiatives focused on distribution networks Industrial efficiency and ongoing fixed cost cutting Sustainable development with positive economic impacts (alt. fuels) Italcementi Group Exane BNPP BM Conference 24 March

10 Construction trend by market: supportive macro environment Construction activity in Group markets should increase by 3.4% compared to a disappointing 1.1% in 2014 driven by NA (7.4%) and Emerging markets (5%) 12 Construction growth in the Group developed countries* (%) 8 Construction growth in the Group emerging countries* (%) (bdg. Oct. '14) North America EU Total Developed * Weighted by Italcementi cement volume sales in H1 14 Construction in mature economies should turn positive in 2015 after seven consecutive years of continuous decline, thanks to North American expansion 0 Emerging Asia Other Emerging Total Emerging * Weighted by Italcementi cement volume sales in H1 14 Italcementi Group Exane BNPP BM Conference 24 March In emerging countries, strong acceleration is expected primarily in Thailand and Egypt, supported by a more stable political context

11 2015 priorities and challenges Key action axes deployed across all Group markets Market focus Exploit i.nova branding initiatives and i.lab-driven product innovation through integrated, consistent implementation strategies tailored to each market a four-year effort that started in 2014 Selective growth initiatives focused on distribution networks Protect and expand market presence guaranteeing faster fill of available capacity utilization and greater protection from pricing pressure Industrial efficiency and self help Focus on maintenance processes generating both improved capacity utilization to meet market demand growth and lower OpEx/CapEx spending Continue review of fixed cost basis as way of life, especially in markets still suffering from volume compression Take advantage of coal/petcoke price market window: fixed significant % of 2015 purchases impact on margins depending on cement pricing dynamics: 10-30M opportunity Sustainable development Confirm full commitment to continuing positive trends across all SD dimensions, with positive fallout on economic performance via alternative fuels and clinker substitution Italcementi Group Exane BNPP BM Conference 24 March

12 Outlook 2015: Mature Countries W. Europe Italy Market volume -5% / -1.5% Cement Price -1.5% / +1.5% Rec.EBITDA Cement prices expected to recover from December level, even if still subject to competitive environment. Q1 negative base effect, flat y/o/y average France Market volume -5% / -1.5% Cement Price -1.5% -1%/ +1.5% / +1% Rec.EBITDA Market volumes declining again, Q1 opens weakly Spain (N.+S.) Market volume +1.5% / +5% Cement Price +1.5% / +5% Spain export mission confirmed while enjoying domestic recovery Rec.EBITDA Greece Market volume +5% / +10% Cement Price -1.5% / +1.5% Rec.EBITDA USA + Canada (Group market area) N. America Market volume +1.5% / +5% Cement Price +1.5% / +5% Rec.EBITDA Market increase after positive trend in H (+9% vs. 2013) thanks to residential and commercial sectors Italcementi Group Exane BNPP BM Conference 24 March

13 Outlook 2015: Emerging Countries E. Europe / N. Africa Egypt Market volume +5% / +10% Cement Price volatile Rec.EBITDA Cost-inefficient clinker imports with domestic production thanks to coal grinding capacity and alternative fuels Morocco Market volume -5% / -1.5% Cement Price +1.5% / +5% Rec.EBITDA Continue distribution network extension: depots/terminals/grinding centers along coastal corridor Bulgaria Market volume +1.5% / +5% Cement Price -1.5% / +1.5% Rec.EBITDA Further consolidation of domestic market share and push on export activities Asia Thailand Market volume +1.5% / +5% Cement Price -5% / -1.5% Rec.EBITDA RDF treatment plant to diversify fuel sources and drive further efficiency South India Market volume +1.5% /+5% Cement Price +5% / +10% Rec.EBITDA Complete investment to enlarge market footprint (Solapur grinding, Cochin terminal) Kazakhstan Market volume +5% / +10% Cement Price +1.5% / +5% Rec.EBITDA Focus on Shymkent revamping project (1.2mt/y full cycle plant, expected to be completed by H1 2016) Italcementi Group Exane BNPP BM Conference 24 March

14 2015 in Summary Strategic Axes on Track Slight Rec. EBITDA Growth Main risk factors Leverage Control Move proactively to grow the top line through innovation, channel management and expanded distribution networks Keep focus on further rightsizing opportunities after delivery of plan Maintain progress in key industrial efficiency actions Positive volume and price effects in non-european Group markets Over 70M in industrial efficiencies, partially offsetting cost inflation Including margin contribution from recent revampings in Italy and Bulgaria + greater use of clinker production capacity in Egypt (coal grinders) Support from fuel prices and FX translation Still uncertain volume environment in Europe Volatile pricing power in certain key markets, especially Italy, Egypt and Thailand CapEx contained to ongoing projects below 400M, with completion of plant revamping in Kazakhstan, Indian grinding center and terminal, additional coal grinder in Egypt. Strategic light investment opportunities (terminals / grinding centers) under evaluation Positive FCF; dividends and FX translation drive Net Debt slightly higher. DPS increase reflects CF minorities buy back Stable to slightly improved year-end leverage; seasonality & FX impact in H1 Italcementi Group Exane BNPP BM Conference 24 March

15 Investor Relations 2015 calendar Q Results Conference Call May 8 th, 2015 H Results Conference Call July 30 th, M 2015 Results Conference Call November 9 th, 2015 Contacts Investor Relations Department Via G. Camozzi, Bergamo - Italy Giancarlo Berera, Head of IR Tel Arturo Carchio, IR Tel Fabienne Moreau, IR Tel Italcementi Group Exane BNPP BM Conference 24 March

Centocinquanta Investor Presentation

Centocinquanta Investor Presentation Centocinquanta Investor Presentation Giovanni Maggiora, C.F.O. CA CIB Global High Yield Conference London, 20 March 2014 Italcementi Group Agenda Opening Remarks Centocinquanta Project 2013 Results 2014

More information

Italcementi Group revenue 4,235.4 million euro (-5.4%, -2.2% like-forlike and at constant exchange rates)

Italcementi Group revenue 4,235.4 million euro (-5.4%, -2.2% like-forlike and at constant exchange rates) BOARD OF DIRECTORS EXAMINES SALES FIGURES FOR YEAR TO DECEMBER 31, Italcementi Group revenue 4,235.4 million euro (-5.4%, -2.2% like-forlike and at constant exchange rates) Sales volumes: 43.1 million

More information

RESULTS AT SEPTEMBER 30, 2015

RESULTS AT SEPTEMBER 30, 2015 BOARD OF DIRECTORS EXAMINES CONSOLIDATED RESULTS AT SEPTEMBER 30, 2015 RESULTS AT SEPTEMBER 30, 2015 CONSOLIDATED REVENUE: 3,217.0 MILLION EURO (3,115.7 MILLION EURO AT SEPTEMBER 30, 2014) RECURRING EBITDA:

More information

Delivering global performance leadership

Delivering global performance leadership Delivering global performance leadership Borsa Italiana and DrKW, Frankfurt 28 th September 2005 Rodolfo Danielli (COO) 0 Executive summary Italcementi Group is the 5 th largest global cement player with

More information

ITALIAN LARGE & MID CAP CONFERENCE

ITALIAN LARGE & MID CAP CONFERENCE The photocatalytic active principle formulated by Italcementi ITALIAN LARGE & MID CAP CONFERENCE G. Bodo, Chief Financial Officer 0 Executive summary Italcementi Group is the 5 th largest global cement

More information

Financial Information

Financial Information Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow

More information

Italian Mid Cap Conference

Italian Mid Cap Conference The photocatalytic active principle formulated by Italcementi G. Bodo, CFO 0 Executive summary Italcementi Group is the 5 th largest global cement player with leadership in the Mediterranean Rim and a

More information

Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated

Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated Aalst-Erembodegem, November 5, 2015 - Ontex Group NV (Euronext Brussels: ONTEX; Ontex, the Group or the Company

More information

H1 2015 RESULTS. July 30, 2015

H1 2015 RESULTS. July 30, 2015 H1 2015 RESULTS July 30, 2015 Sébastien Bazin CHAIRMAN AND CEO ACCORHOTELS H1 2015 Results 07/30/2015 2 Staying the course in a changing environment Solid H1 2015 results reflecting transformation Strong

More information

Carlsberg A/S. Full-year 2015 results

Carlsberg A/S. Full-year 2015 results Carlsberg A/S Full-year 2015 results Agenda Preparing for the future Financial results Region performance Appendix Preparing for the future Funding the Journey Two year programme aiming at delivering DKK

More information

PRESS RELEASE. Board of Directors approves results as of December 31 2014

PRESS RELEASE. Board of Directors approves results as of December 31 2014 PRESS RELEASE Board of Directors approves results as of December 31 2014 SOGEFI (CIR GROUP): REVENUES AT OVER 1.3 BLN (+1.1%; +4.7% AT SAME EXCHANGE RATES), NET INCOME AT 3.6 MLN MARGINS LOWER BECAUSE

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Marcus A. Ketter CFO Results Analysts and Investors Conference November 6, Disclaimer This presentation contains forward-looking statements

More information

Management Presentation Q2/2012 Results. 8 August 2012

Management Presentation Q2/2012 Results. 8 August 2012 Management Presentation Q2/2012 Results 8 August 2012 Cautionary statement This presentation contains forward-looking statements which involve risks and uncertainties. The actual performance, results and

More information

Bergamo May 11 th 2005. Conference call Transition to IFRS

Bergamo May 11 th 2005. Conference call Transition to IFRS Bergamo May 11 th 2005 Conference call Preliminaries Italcementi has decided to publish its consolidated interim reports, starting from January 1 st 2005, in compliance with International Financial Reporting

More information

Q1 2014 Earnings Call. April 30 th, 2014

Q1 2014 Earnings Call. April 30 th, 2014 Q1 2014 Earnings Call April 30 th, 2014 Agenda Executive summary Financial data Outlook 2014 Appendix 2 Summary Q1 2014 (1) Revenue growth factors Positive start in FY 2014 with Q1 revenue increase of

More information

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability 2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth

More information

IFGL REFRACTORIES LTD. RESULT UPDATE PRESENTATION, February 2016

IFGL REFRACTORIES LTD. RESULT UPDATE PRESENTATION, February 2016 IFGL REFRACTORIES LTD RESULT UPDATE PRESENTATION, February 2016 Safe Harbor This presentation and the accompanying slides (the Presentation ), has been prepared by IFGL Refractories Limited (the Company

More information

RHI AG. May 12, 2016

RHI AG. May 12, 2016 RHI AG Results 1Q/16 May 12, 2016 Highlights & Lowlights Highlights Positiv Steel Division operating EBIT margin of 7.8% in 1Q/16 driven by Europe and North America as a result of an improved product mix

More information

FURTHER PROFIT GROWTH IN FIRST-HALF 2015

FURTHER PROFIT GROWTH IN FIRST-HALF 2015 FURTHER PROFIT GROWTH IN FIRST-HALF 2015 Net sales of 37.7bn, up +5.2% (+2.9% on an organic basis) Growth in Recurring Operating Income: 726m, +2.6% at constant rates Strong growth in adjusted net income,

More information

Second Quarter 2015 Earnings Conference Call

Second Quarter 2015 Earnings Conference Call Earnings Conference Call May 5, 2015 Safe Harbor Statement Our commentary and responses to your questions may contain forward-looking statements, including our outlook for the remainder of the year, and

More information

1H/14 Results Presentation

1H/14 Results Presentation 1H/14 Results Presentation September 1st, 2014 YTD Highlights Good operating performance impacted by f/x effects Like for like* growth in Sales, EBIT & Net Profit Stable net debt LTM despite significant

More information

Group Financial Outlook and Strategy. Mark Langer, CFO Paris, November 19, 2014

Group Financial Outlook and Strategy. Mark Langer, CFO Paris, November 19, 2014 Investor Day 2014 Group Financial Outlook and Strategy Mark Langer, CFO Paris, November 19, 2014 HUGO BOSS 19-Nov-14 2 Agenda Review of past financial performance Current trading update Financial implications

More information

Q2 and H1 2014 FINANCIAL RESULTS. 29 August 2014

Q2 and H1 2014 FINANCIAL RESULTS. 29 August 2014 Q and H1 014 FINANCIAL RESULTS 9 August 014 Forward Looking Statements This Presentation may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management

More information

Year-end Report January-December 2015

Year-end Report January-December 2015 Year-end Report January-December 20 Johan Dennelind, President & CEO Q4 20 high pace towards the new TeliaSonera Started to reduce presence in region Eurasia Continued business transformation Solid development

More information

Management Report at December 31, 2010

Management Report at December 31, 2010 Management Report at December 31, 010 1 Key Figures Page Review of Operations and Financial Result Page 4 3 Consolidated Financial Statements Page 1 couva4_pressebook_fr&gb.indd 6 17/0/011 09:50:03 CONSOLIDATED

More information

Results on Q1/2015. Conference Call. 29 April 2015. Investor Relations

Results on Q1/2015. Conference Call. 29 April 2015. Investor Relations Results on Q1/2015 Investor & Analyst Conference Call 29 April 2015 Investor Relations Agenda. 1. Review Q1/2015 2. Financials Q1/2015 3. Outlook 2015 Page 2 SGL Group Investor Relations 29 April 2015

More information

Investor and analyst factsheet

Investor and analyst factsheet Investor and analyst factsheet 2015 2014 1 Variation 4Q 15 4Q 14 1 Variation in m in m in m in m Sales 7,683 5,952 +29.1% 1,760 1,431 +23.0% Prices (4.7)% (8.5)% Volumes +0.2% +2.1% FX +7.8% +5.1% Portfolio

More information

Interim Financial Report 9M/2015

Interim Financial Report 9M/2015 Interim Financial Report 9M/2015 Investor & Analyst Conference Call 5 November 2015 Investor Relations Agenda. 1. Financials 9M/2015 2. Outlook Page 2 SGL Group Investor Relations 05 November 2015 Performance

More information

2015 Results and Prospects

2015 Results and Prospects PRESS RELEASE Paris, 23 March 2016 2015 Results and Prospects Revenues: 2,579.3 million, up 3.2% EBITDA: 342.0 million, an operating margin of 13.3% 2016 Objectives: revenues close to 3 billion and an

More information

November 14 th, 2014. 3Q/14 Results Presentation

November 14 th, 2014. 3Q/14 Results Presentation November 14 th, 2014 3Q/14 Results Presentation Results Highlights Good operating performance Sound contracting activity Stable net debt despite investment expansion HOCHTIEF restructuring process is starting

More information

F i r s t - h a l f r e s u l t s. 30 July 2014

F i r s t - h a l f r e s u l t s. 30 July 2014 F i r s t - h a l f r e s u l t s 30 July 2014 Disclaimer This presentation does not constitute an offer of securities for sale in the United States of America or any other jurisdiction. Certain information

More information

Second Quarter 2015 Investor Conference Call

Second Quarter 2015 Investor Conference Call Second Quarter 2015 Investor Conference Call August 20, 2015 December 13, 2012 DRAFT 5 Safe Harbor Basis of Presentation Unless otherwise noted or unless the context otherwise requires, all references

More information

H1 2015 Results. 12 August 2015

H1 2015 Results. 12 August 2015 H1 2015 Results Agenda Agenda H1 2015 at a glance Building industry outlook 2015 Outlook 2015 2 Stable operating margins Group net sales increase of 20.1% to CHF 1 308 million In local currencies, net

More information

INVESTOR PRESENTATION HALF YEAR 2012

INVESTOR PRESENTATION HALF YEAR 2012 INVESTOR PRESENTATION HALF YEAR 2012 CONTENTS 1. PERFORMANCE HIGHLIGHTS HY 2012 2. ENVIRONMENT HY 2012 3. P&L & B/S DETAILS HY 2012 4. RAW MATERIALS & PACKAGING 5. OUTLOOK 2012 6. QUESTIONS & ANSWERS 2

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information

2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013

2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013 2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013 U.S. stock market performance in 2012 * +12.59% total return +6.35%

More information

Q2 / H1 2015 results. Investor Presentation 30 July 2015

Q2 / H1 2015 results. Investor Presentation 30 July 2015 Q2 / H1 2015 results Investor Presentation 30 July 2015 Information Full year consolidated financial statements at 31 December are audited Half year financial statements are subject to limited review by

More information

Q3 2013 results November 7, 2013

Q3 2013 results November 7, 2013 Q3 2013 results Q3 2013 results November 7, 2013 Forward looking statements This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws that are subject

More information

July 30 th, 2015 2015 HALF-YEAR RESULTS

July 30 th, 2015 2015 HALF-YEAR RESULTS Disclaimer Confidential IMPORTANT NOTICE: By attending the meeting where this presentation is given, or by reading the presentation slides, you agree to be bound by the following limitations and qualifications:

More information

1Q 2016 Highlights Total volume (kmt) Adjusted EBITDA (EUR/Millions) Adjusted EPS (EUR) 1Q16 1Q15 Y-o-Y Comparison 277.8 252.9 9.9% 54.0 53.9 0.1% 0.28 0.33-15.2% Strong volume gains from both Specialty

More information

MACROECONOMIC OVERVIEW

MACROECONOMIC OVERVIEW MACROECONOMIC OVERVIEW MAY 20 Koç Holding CONTENTS Global Economy... 3 Global Financial Markets... 3 Global Economic Growth Forecasts... 3 Turkey Macroeconomic Indicators... Economic Growth... Industrial

More information

Jan-December 2014 Results. Madrid, May 2015

Jan-December 2014 Results. Madrid, May 2015 Jan-December 2014 Results Madrid, May 2015 January- December 2014 Highlights Reported Net profit exc. PPA reaches 8.3 million, from the -3.2 million losses accounted in 2013. 2014 has been a year of transformation

More information

1Q16 Earnings Release. April 28 th 2016 LG Electronics

1Q16 Earnings Release. April 28 th 2016 LG Electronics 1Q16 Earnings Release April 28 th 2016 LG Electronics All information regarding management performance and financial results of LG Electronics (the Company ) during the 1 st quarter of 2016 as contained

More information

Financial Results Q1 2014. Jacques Purnode, Chief Finance Officer

Financial Results Q1 2014. Jacques Purnode, Chief Finance Officer Financial Results 2014 Jacques Purnode, Chief Finance Officer Forward Looking Statements This Presentation may include forward-looking statements. Forward-looking statements are statements regarding or

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Q3 2014 Results Press Telephone Conference November 6, 2014 Disclaimer This presentation contains forward-looking statements which reflect

More information

First Quarter 2016 Revenues. April 21, 2016

First Quarter 2016 Revenues. April 21, 2016 First Quarter 2016 Revenues April 21, 2016 Disclaimer All forward-looking statements are Schneider Electric management s present expectations of future events and are subject to a number of factors and

More information

Be ONE: Our strategy in the current environment. Guidance 2010

Be ONE: Our strategy in the current environment. Guidance 2010 Results February January-December 25th, 2009 2010 1 Disclaimer This document contains additional non-compulsory forward-looking statements on intentions or expectations of the Company as of the date of

More information

Acerinox Press Release 2014 First Half Results. Page 0 / 10

Acerinox Press Release 2014 First Half Results. Page 0 / 10 Page 0 / 10 2014 First Half Results Acerinox's profit after taxes and minorities for the first half of 2014 is Euros 76.1 million, representing a rise of 373% on the same period in the prior year The Group's

More information

Q Results. 11 February 2016

Q Results. 11 February 2016 Q1 2016 Results 11 February 2016 Agenda Highlights - Peter Fankhauser CEO Financial results Current trading and outlook Page 2 Highlights First quarter improved in line with expectations Q1 underlying

More information

PEGAS NONWOVENS SA. First quarter 2010 unaudited consolidated financial results

PEGAS NONWOVENS SA. First quarter 2010 unaudited consolidated financial results PEGAS NONWOVENS SA First quarter 2010 unaudited consolidated financial results May 20, 2010 PEGAS NONWOVENS SA announces its unaudited consolidated financial results for the first quarter of 2010 to March

More information

Results Presentation Jan-Sep 2014. November 25 th, 2014

Results Presentation Jan-Sep 2014. November 25 th, 2014 Results Presentation Jan-Sep 2014 November 25 th, 2014 Disclaimer This document has been prepared by Grupo Isolux Corsán, S.A.; therefore no part of it may be published, disclosed or distributed in any

More information

PIERRE JEAN SIVIGNON FINANCIAL. Deputy Chief Executive Officer, Chief Financial Officer RESULTS

PIERRE JEAN SIVIGNON FINANCIAL. Deputy Chief Executive Officer, Chief Financial Officer RESULTS FULL YEAR RESULTS FINANCIAL RESULTS PIERRE JEAN SIVIGNON Deputy Chief Executive Officer, Chief Financial Officer FURTHER PROFIT GROWTH IN 2015 Variation at (in m) 2014 2015 (1) constant exch. rates Variation

More information

Etisalat Group. Q4 2014 Results Presentation

Etisalat Group. Q4 2014 Results Presentation Etisalat Group Q4 2014 Results Presentation 26 th February 2015 Disclaimer Emirates Telecommunications Corporation and its subsidiaries ( Etisalat or the Company ) have prepared this presentation ( Presentation

More information

February 13, Jaime Muguiro President CEMEX Mediterranean

February 13, Jaime Muguiro President CEMEX Mediterranean February 13, 2014 Jaime Muguiro President CEMEX Mediterranean Legal Disclaimer This presentation contains certain forward-looking statements and information relating to CEMEX, S.A.B. de C.V. and its subsidiaries

More information

Logista Q Results. February 9, 2016

Logista Q Results. February 9, 2016 Logista Q1 2016 Results February 9, 2016 Logista reports Q1 2016 Results Logista announces today its First Quarter Results for 2016. Main highlights: Revenues growing by 2.3% Good performance of Economic

More information

MONCLER S.P.A.: THE BOARD OF DIRECTORS APPROVES THE INTERIM REPORT AT 30 SEPTEMBER 2014 1 MONCLER, REVENUES UP 18% AT CONSTANT EXCHANGE RATES

MONCLER S.P.A.: THE BOARD OF DIRECTORS APPROVES THE INTERIM REPORT AT 30 SEPTEMBER 2014 1 MONCLER, REVENUES UP 18% AT CONSTANT EXCHANGE RATES MONCLER S.P.A.: THE BOARD OF DIRECTORS APPROVES THE INTERIM REPORT AT 30 SEPTEMBER 2014 1 MONCLER, REVENUES UP 18% AT CONSTANT EXCHANGE RATES Consolidated Revenues: 449.3 million euros, up 16% compared

More information

Third quarter results as of December 31, 2014. Investor presentation

Third quarter results as of December 31, 2014. Investor presentation Third quarter results as of December 31, 2014 Investor presentation February, 26 th 2015 Disclaimer Certain statements included or incorporated by reference within this presentation may constitute forwardlooking

More information

DEUTSCHE TELEKOM Q3/14 Results

DEUTSCHE TELEKOM Q3/14 Results DEUTSCHE TELEKOM Results DISCLAIMER This presentation contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. These forwardlooking

More information

Focus on fleet customers SAF-HOLLAND 1st half-year results 2014

Focus on fleet customers SAF-HOLLAND 1st half-year results 2014 Focus on fleet customers SAF-HOLLAND 1st half-year results 214 Detlef Borghardt, CEO Wilfried Trepels, CFO August 7, 214 Executive Summary 1 Increase in group sales by 1.7% to 482.mn (previous year: 435.6)

More information

Klöckner & Co SE. FY 2013 Results

Klöckner & Co SE. FY 2013 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO FY 2013 Results Press Conference March 6, 2014 Disclaimer This presentation contains forward-looking statements which reflect the current

More information

Focus on fleet customers SAF-HOLLAND Annual Financial Statements 2013

Focus on fleet customers SAF-HOLLAND Annual Financial Statements 2013 Focus on fleet customers SAF-HOLLAND Annual Financial Statements 213 Detlef Borghardt, CEO Wilfried Trepels, CFO March 13, 214 Agenda 1 Financials 3 2 Appendix 21 2 Executive Summary 1 2 3 Group sales

More information

First Half 2015 Results (January-June) Madrid, July 24 th 2015

First Half 2015 Results (January-June) Madrid, July 24 th 2015 First Half 2015 Results (January-June) Madrid, July 24 th 2015 Table of Contents 1. 1H 2015 Highlights 2. Backlog Execution 3. Update on Tulpar Transaction 4. Commercial Activity 5. Profit & Loss 6. Cash

More information

2014 HALF YEAR RESULTS 4 September 2014

2014 HALF YEAR RESULTS 4 September 2014 862m H1 2014 Revenues 2014 HALF YEAR RESULTS 4 September 2014 57% of Revenues for International in H1 2014 21,657 Employees In H1 2014 Disclaimer This presentation contains forward-looking statements (as

More information

Herzogenaurach, Germany, July 27, 2004 PUMA AG announces its consolidated nd

Herzogenaurach, Germany, July 27, 2004 PUMA AG announces its consolidated nd P Quarter P Half-Year For immediate release MEDIA CONTACT: INVESTOR CONTACT: U.S.A.: Lisa Beachy, Tel. +1 617 488 2945 Europe: Ulf Santjer, Tel. +49 9132 81 2489 Dieter Bock, Tel. +49 9132 81 2261 Herzogenaurach,

More information

2014 Half-Year Results

2014 Half-Year Results Copyright: Library Lafarge - Charles Plumey-Faye - Rudy Ricciotti (architect) France, Marseille Mucem (Museum of European & Mediterranean Civilizations) 2014 Half-Year Results Jean-Jacques Gauthier July

More information

2013 Half Year Results

2013 Half Year Results 2013 Half Year Results Erwin Stoller, Executive Chairman Joris Gröflin, Chief Financial Officer Agenda 1. Introduction and summary of first half year 2013 2. Financial results first half year 2013 3. Outlook

More information

Earnings Release 9M2015

Earnings Release 9M2015 Earnings Release 9M2015 19 November 2015 Results overview Regional segments Final remarks PAGE 3 PAGE 12 PAGE 22 Europe Africa Latin America 2 Key highlights Consolidation of EGF in the 3Q15, according

More information

Prosegur 9M 2013 Results

Prosegur 9M 2013 Results Prosegur 9M 2013 Results November 12th, 2013 Compañía de Seguridad S.A. all rights reserved 1 Highlights in the period The transfer to clients of the increase in the labour costs in Brazil (ARV) is being

More information

Strong Q2 Outlook increased

Strong Q2 Outlook increased www.osram.com Strong Q2 Outlook increased Q2 FY15 Management Presentation (preliminary figures) April 29, 2015 Light is OSRAM Safe Harbor Statement This presentation may contain forward-looking statements

More information

DANIELI & C. OFFICINE MECCANICHE S.p.A. Buttrio (UD) via Nazionale n. 41

DANIELI & C. OFFICINE MECCANICHE S.p.A. Buttrio (UD) via Nazionale n. 41 DANIELI & C. OFFICINE MECCANICHE S.p.A. Buttrio (UD) via Nazionale n. 41 Fully paid-up share capital of euro 81,304,566 Registration Number with the Register of Companies of Udine, tax number and VAT registration

More information

ADAMA DELIVERS ROBUST VOLUME GROWTH DESPITE DIFFICULT MARKET AND CURRENCY CONDITIONS

ADAMA DELIVERS ROBUST VOLUME GROWTH DESPITE DIFFICULT MARKET AND CURRENCY CONDITIONS ADAMA DELIVERS ROBUST VOLUME GROWTH DESPITE DIFFICULT MARKET AND CURRENCY CONDITIONS Revenues in constant currencies up estimated 9.5% in the third quarter and 6% year-to-date Strong volume growth in all

More information

2013 Third Quarter Review October 25, 2013 1

2013 Third Quarter Review October 25, 2013 1 October 25, 213 1 Panalpina Group October 25, 213 213 Third Quarter Review October 25, 213 2 Highlights and key figures Operating and financial review Outlook Growth in profitability and margins in the

More information

Significant reduction in net loss

Significant reduction in net loss press release 12 May 2015 Royal Imtech publishes first quarter 2015 results Significant reduction in net loss Order intake in Q1 at a satisfactorily level of 912 million Revenue 3% down excluding Germany

More information

22 nd February 2010. FY 2009: Full Year Results 1 Jan 09 31 Dec 09 Ned Montarello: Executive Chairman & CEO Neil Barker: Group COO

22 nd February 2010. FY 2009: Full Year Results 1 Jan 09 31 Dec 09 Ned Montarello: Executive Chairman & CEO Neil Barker: Group COO 22 nd February 2010 FY 2009: Full Year Results 1 Jan 09 31 Dec 09 Ned Montarello: Executive Chairman & CEO Neil Barker: Group COO Agenda 1. Key Points & Results Highlights 2. ThinkSmart: A Focused, Global

More information

STANLEY BLACK & DECKER. Don Allan Senior Vice President & CFO Raymond James 36th Annual Institutional Investors Conference Monday, March 2, 2015

STANLEY BLACK & DECKER. Don Allan Senior Vice President & CFO Raymond James 36th Annual Institutional Investors Conference Monday, March 2, 2015 STANLEY BLACK & DECKER Don Allan Senior Vice President & CFO Monday, March 2, 2015 Cautionary Statements This presentation contains forward-looking statements, that is, statements that address future,

More information

Etisalat Group. Aspire Forward. Q1 2014 Results Presentation 28 April 2014

Etisalat Group. Aspire Forward. Q1 2014 Results Presentation 28 April 2014 Etisalat Group Aspire Forward Q1 2014 Results Presentation 28 April 2014 Disclaimer Emirates Telecommunications Corporation and its subsidiaries ( Etisalat or the Company ) have prepared this presentation

More information

First Quarter 2015 Earnings Conference Call. 20 February 2015

First Quarter 2015 Earnings Conference Call. 20 February 2015 First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning

More information

Half year results 2011

Half year results 2011 Half year results 2011 29 July 2011 Bert De Graeve, Chief Executive Officer Bruno Humblet, Chief Financial Officer Address by Bert De Graeve, Chief Executive Officer Introductory remark The consolidated

More information

1Q15 Results Presentation May 13 th, 2015

1Q15 Results Presentation May 13 th, 2015 1Q15 Results Presentation May 13 th, 2015 Results Highlights Revenues growth & solid backlog Relevant projects awarded Operating margins increase Reorganization is paying off Solid operating cash flow

More information

Investor & Analyst Conference Call

Investor & Analyst Conference Call Interim Financial i lreport H1/2015 Investor & Analyst Conference Call 06 August 2015 Investor Relations Agenda. 1. Financials H1/2015 2. Review and outlook 2015 Page 2 SGL Group Investor Relations 06

More information

Company Presentation VTG AG Connecting worlds. Analyst Conference April 14, 2015

Company Presentation VTG AG Connecting worlds. Analyst Conference April 14, 2015 Company Presentation VTG AG Connecting worlds Analyst Conference April 14, 2015 Table of content 1 Highlights 2014 2 Performance & Financials 2014 3 Update on Strategy 4 Outlook 2015 5 Appendix 1 Executive

More information

Conference Call Preliminary Full-Year Results 2014

Conference Call Preliminary Full-Year Results 2014 Conference Call Preliminary Full-Year Results 2014 Joachim Kreuzburg, CEO January 27, 2015 Disclaimer This presentation contains statements concerning the future performance of the Sartorius Group and

More information

PART IV. FINANCE CMD 16

PART IV. FINANCE CMD 16 PART IV. FINANCE 1 FINANCE IN SUPPORT OF STRATEGY Bernard DELPIT Group CFO 2 FINANCE IN SUPPORT OF STRATEGY Conservative accounting supporting transparency Hedging policy protecting performance Disciplined

More information

STAR CONFERENCE 2015 Milan

STAR CONFERENCE 2015 Milan STAR CONFERENCE 2015 Milan Elica Corporation Today N#1 Player Worldwide in Hoods 2014 Turnover 391.9 M > 3500 Employees 2 19 Mln Hoods + Motors Cooking Net Sales: Own Brand 41% Client Brand 59 % 2 & 3

More information

Report on the nine-month period ended July 31, 2004 WKN: 330 410 ISIN: DE0003304101

Report on the nine-month period ended July 31, 2004 WKN: 330 410 ISIN: DE0003304101 GERRY WEBER International AG Report on the first nine months of 2003/2004 Report on the nine-month period ended July 31, 2004 WKN: 330 410 ISIN: DE0003304101 The GERRY WEBER share: While the stock market

More information

Cementir Holding: Board of Directors approves consolidated results at 31 March 2016

Cementir Holding: Board of Directors approves consolidated results at 31 March 2016 PRESS RELEASE Cementir Holding: Board of Directors approves consolidated results at 31 March 2016 Revenue: EUR 210.4 million (EUR 204.7 million in the first quarter 2015) EBITDA: EUR 21.3 million (EUR

More information

Forecasting Chinese Economy for the Years 2013-2014

Forecasting Chinese Economy for the Years 2013-2014 Forecasting Chinese Economy for the Years 2013-2014 Xuesong Li Professor of Economics Deputy Director of Institute of Quantitative & Technical Economics Chinese Academy of Social Sciences Email: xsli@cass.org.cn

More information

Debt Investor Update March 2013

Debt Investor Update March 2013 Strength. Performance. Passion. Debt Investor Update March 2013 IFZ - MAS Corporate Finance 20_10 Funding December 7, 2012, 14.10 17.50 Debt Investor Update 2013 Holcim Ltd Agenda Strategy and positioning

More information

PRESS RELEASE. Indesit Company s Board of Directors examines the results for 2 nd quarter 2012 and approves the 1 st half management report

PRESS RELEASE. Indesit Company s Board of Directors examines the results for 2 nd quarter 2012 and approves the 1 st half management report PRESS RELEASE Indesit Company s Board of Directors examines the results for 2 nd quarter and approves the 1 st half management report Growth in 2 nd quarter revenues and market share. Operating margin

More information

J.P. MORGAN HIGH YIELD & LEVERAGED FINANCE CONFERENCE FEBRUARY 24, 2015

J.P. MORGAN HIGH YIELD & LEVERAGED FINANCE CONFERENCE FEBRUARY 24, 2015 J.P. MORGAN HIGH YIELD & LEVERAGED FINANCE CONFERENCE FEBRUARY 24, 2015 DISCLAIMER This presentation contains, in addition to historical information, certain forward-looking statements within the meaning

More information

K+S Group FY/Q4 2014 Analyst conference. 12 March 2015, Frankfurt am Main. Norbert Steiner, CEO Dr. Burkhard Lohr, CFO

K+S Group FY/Q4 2014 Analyst conference. 12 March 2015, Frankfurt am Main. Norbert Steiner, CEO Dr. Burkhard Lohr, CFO Experience growth. FY/Q4 2014 Analyst conference 12 March 2015, Frankfurt am Main Norbert Steiner, CEO Dr. Burkhard Lohr, CFO Agenda A. FY 2014 Financials B. Projects and initiatives C. Q4 Financials D.

More information

Worldwide GDP rising with a broad positive momentum; Europe back to growth, India speeding up

Worldwide GDP rising with a broad positive momentum; Europe back to growth, India speeding up Disclaimer This presentation contains forward-looking statements regarding future events and future results of Piaggio & C S.p.A (the Company ). that are based on the current expectations, estimates, forecasts

More information

An attractive business model with a high return on capital

An attractive business model with a high return on capital KONE CMD 2015 An attractive business model with a high return on capital Eriikka Söderström, CFO Agenda Global position in a life cycle business Strong order book combined with recurring revenues Flexible

More information

Euro Zone s Economic Outlook and What it Means for the United States

Euro Zone s Economic Outlook and What it Means for the United States WELCOME TO THE WEBINAR WEBINAR LINK: HTTP://FRBATL.ADOBECONNECT.COM/ECONOMY/ DIAL-IN NUMBER (MUST USE FOR AUDIO): 855-377-2663 ACCESS CODE: 71032685 Euro Zone s Economic Outlook and What it Means for the

More information

Recall Holdings Limited 31 December 2013 Trading Update

Recall Holdings Limited 31 December 2013 Trading Update Document Management Solutions Secure Destruction Services Data Protection Services Recall Holdings Limited 31 December 2013 Trading Update February 19 th 2014 Presenters: CEO - Doug Pertz, CFO - Mark Wratten

More information

ANNUAL RESULTS PRESENTATION Madrid, March 2015

ANNUAL RESULTS PRESENTATION Madrid, March 2015 ANNUAL RESULTS PRESENTATION Madrid, March 2015 1 Disclaimer In addition to figures prepared in accordance with IFRS, PRISA presents non-gaap financial performance measures, e.g., EBITDA, EBITDA margin,

More information

Presentation to Analysts 2009 Preliminary Results. 16 March 2010

Presentation to Analysts 2009 Preliminary Results. 16 March 2010 Presentation to Analysts 2009 Preliminary Results 16 March 2010 Contents Executive Summary Delivering returns 2009 performance overview Business progress Market place Positive outlook The numbers behind

More information

Drägerwerk AG & Co. KGaA Analyst Conference 2015. Frankfurt, March 11, 2015

Drägerwerk AG & Co. KGaA Analyst Conference 2015. Frankfurt, March 11, 2015 Drägerwerk AG & Co. KGaA Analyst Conference 2015 Frankfurt, March 11, 2015 Disclaimer This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any

More information

Nemetschek Group Company Presentation. July 2014

Nemetschek Group Company Presentation. July 2014 Nemetschek Group Company Presentation July 2014 Agenda Nemetschek Group: In brief Strategy Internationalization Industry mega trends Innovations Financial data Q1 2014 Nemetschek share Why invest? 2 A

More information

Management s Discussion and Analysis

Management s Discussion and Analysis Management s Discussion and Analysis 6 Financial Policy Sysmex regards increasing its market capitalization to maximize corporate value an important management objective and pays careful attention to stable

More information