Third quarter results 2010 and outlook

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1 Third quarter results 2010 and outlook Hermosillo plant, Mexico Presentation of November 10, 2010 Markus Akermann, CEO Theophil H. Schlatter, CFO The spoken word prevails.

2 Holcim at a glance Demand for construction materials suffered a setback in the third quarter in several mature markets; in the emerging markets demand increased Seasonal influences temporarily impacted construction industry Overall stable volume development Increasing price pressure in cement Trend toward higher variable production and distribution costs Factors that could be influenced by Holcim led to a further substantial fixed cost reduction Strategic capacity expansion program continued Operating EBITDA similar to the previous year 1 1) As anticipated in the half-year report, the building materials market suffered a setback in the third quarter. There was a temporary challenge due to economic and seasonal influences, particularly in the US, Mexico, Eastern Europe and India. Fortunately, many emerging markets in which Holcim has a very good footing continued to experience strong growth. Thanks to our unique geographic presence, Holcim recorded a virtually stable volume development in the specific segments in the first nine months of this year. Contributors were also the acquisitions in Australia. However, in many mature markets demand still remained on a very low level. Thanks to the rigorously implemented cost-cutting measures, Holcim will rapidly benefit from a further economic upturn in these markets. Average sales price for cement decreased by 3 percent compared with the previous year. Particularly in the third quarter, cement prices were temporarily under pressure in India due to the monsoon-related decline in demand, which was particularly hard this year. Markets primarily in Europe were also affected by the price pressure. Once more, Holcim focused its activities on factors its management can influence. Despite the commissioning of around 5 million tonnes of new cement capacity, the Group succeeded in further reducing fixed costs compared to the previous year. This is the outcome of major saving exercises across the whole Group. The strategic important capacity expansion program continued. In view of an economic background, which is not easy, Holcim succeeded to report an operating EBITDA similar to the previous year s nine months. Subdued demand for building materials in Europe Contrasting economic development in Western and Eastern Europe Slight decline in sales volumes in all segments Recently, price pressure in several markets slightly diminished Cost-cutting measures in all areas and the sale of CO 2 emission certificates supported operating results Lower operating result 2 2) The contrasting economic development in Western and Eastern Europe continued in the third quarter While economic activity picked up in the UK, France and Germany, most countries in Southern and Southeastern Europe struggled with high levels of government debt. This influenced particularly the construction materials markets in Eastern Europe which impacted business activities of the concerned Group companies. Overall, consolidated sales volumes for nine months in Europe decreased only slightly, and in the third quarter we sold more cement and aggregates. In Switzerland and Southern Germany, Holcim sold higher volumes in all segments. For Holcim Switzerland, the start of work on the NEAT rail tunnel through Monte Ceneri had a positive impact as well. Aggregate Industries sold more aggregates, primarily for infrastructure projects. At Holcim France Benelux, deliveries of cement and ready-mix concrete increased. Thanks to deliveries to the Nord Stream gas pipeline consortium, Holcim Germany managed to just maintain cement 2

3 sales. Deliveries of aggregates and ready-mix concrete increased. Holcim Italy saw a rise in deliveries of ready-mix concrete. In Spain, the market situation remained difficult. Holcim Spain increased its cement sales, but only due to higher exports. In Eastern and Southeastern Europe, sales were impacted by the limited awarding of construction contracts by the public as well as the private sector. Thanks to EU-funded infrastructure projects, the decline in deliveries slowed over the course of the year. Most markets experienced a higher price pressure, which relented slightly in the last few months. Great efforts were undertaken by the European Group companies in the costs area, and on all fronts. Once more, fixed costs could be reduced substantially. Not all Group companies could fully compensate for the price and volume declines. Therefore, consolidated operating results for this Group region decreased considerably despite the sale of CO2 emission certificates. The weak Euro also negatively impacted results. Before year-end, we will go on stream with a new plant in Shurovo in Russia. Over the last few days, the first clinker has already been produced. The new facility will strengthen our market presence in the greater Moscow area. Differing market development in North America Subdued demand in the US, but better market conditions in Canada Nearly stable cement sales at Holcim US; however, Aggregate Industries US sold less construction materials Holcim Canada shipped more cement and ready-mix concrete; deliveries of aggregates reached previous year s level Higher prices in Canada; more stable market prices in the US in the third quarter Substantial cost-cutting at Aggregate Industries US and Holcim US supported by the high efficiency of the new Ste. Genevieve plant Better results due to Holcim US and Holcim Canada 3 3) In the US, economic recovery was by far less vigorous than expected despite the stimuli programs. In Canada however, better economic activity has given impetus to the construction industry. Besides insufficient demand for construction materials in the US, unfavorable weather conditions put further pressure on the whole construction sector. Nevertheless, cement sales at Holcim US remained more or less stable. Aggregate Industries US recorded a fall in the volume of shipments of aggregates and ready-mix concrete. A certain level of demand was sustained by large projects on the Atlantic coast, as well as in the Midwest. Holcim Canada sold more cement and ready-mix concrete. Sales of aggregates reached the previous year s level. Thanks to the better economic situation, cement prices picked up slightly in Canada, and in the US, cement prices stabilized, but at a low level still. The drastic cost reductions achieved in both Group companies in the US, as well as the very good efficiency of the new cement plant Ste. Genevieve on the Mississippi, positively impacted operating results of this Group region. Together with the increased results of Holcim Canada, operating EBITDA recorded again strong organic growth after a long interruption. Stable delivery volumes in Latin America Solid construction activity in South America Higher sales of aggregates and ready-mix concrete; cement sales scarcely reached previous year s level Overall stable price development Substantially better operating results in Brazil and Argentina Strong volume reduction in Mexico and Central America led to lower operating results 4 3

4 4) In general, the construction sector in Latin America proved relatively resistant to the crisis. Especially in South America, construction activity remained solid, with a particularly large volume of work in Brazil and Argentina. However, weak economic activity as well as hurricanes and record rainfalls led to a weak demand for construction materials in Mexico. Therefore, Holcim Apasco sold less cement. It increased, however, deliveries of aggregates and ready-mix concrete. In Central America, less cement was sold as well. In Brazil, the robust state of the economy strengthened demand for building materials. Holcim Brazil has experienced a continuous rise in sales of cement and aggregates since the start of the year. In Argentina, Minetti also increased cement sales. In Chile, Cemento Polpaico recorded lower cement sales in a difficult market environment. Initial measures to rectify major damage of the earthquake resulted in an increase in deliveries of aggregates and ready-mix concrete. Fortunately, cement prices remained relatively stable, and the Group companies in Brazil and Argentina recorded substantially better results. However, this could not offset the worsening business climate, particularly in Mexico. Before year-end, we will go on stream with an efficient cement plant in Hermosillo, a growth region in the north of Mexico, thus reducing logistics costs long-term. Mostly solid markets in Africa Middle East In Lebanon, residential construction and infrastructure projects led to higher sales of cement and ready-mix concrete Stable sales volumes on a high level in Morocco and the Gulf region Cement sales remained at previous year s level in West Africa and in the Indian Ocean Mostly stable price situation and markedly lower costs at Holcim Lebanon Better operating results 5 5) Group region Africa Middle East developed positively overall. In Lebanon, the favorable investment climate was conducive to residential construction activity as well as infrastructure expansion projects. In Morocco and in the Holcim markets in the Arabian Gulf, demand for construction remained high. The construction industry in West Africa and the Indian Ocean was stable. In Group region Africa Middle East, Holcim sold more cement. Sales volumes in the aggregates and ready-mix concrete business at least reached the good previous year s level. Higher cement sales for nine months and the lower production costs at Holcim Lebanon and Holcim Morocco together with a mostly stable price situation positively influenced the results of this Group region, which increased strongly. Growing building materials demand in Asia Pacific Dynamic demand for building materials in many markets Higher sales volumes in all segments positively impacted by the expanded market presence in Australia Temporary price pressure in India due to the monsoon in the third quarter Increasing variable costs, especially for energy and transportation Higher operating results due to Ambuja Cements in India, the Group companies in Indonesia and the Philippines as well as the full consolidation in Australia 6 6) Demand remained dynamic in many markets. Supported by the full consolidation of Cement Australia and Holcim Australia, the Group could not only increase cement sales, but also deliveries of aggregates and ready-mix concrete. While Ambuja Cements generated significantly higher sales of cement, ACC saw a fall in deliveries due to market and operational factors. Siam City Cement in 4

5 Thailand increased its sales in all segments. The Group company also took advantage of additional export opportunities. Cement Australia was able to just match the previous year s high sales volumes. At Holcim Australia, project delays for big infrastructure projects and unfavorable weather conditions as well as the subdued economic activity, especially in the state of Queensland, impacted negatively on sales of aggregates and ready-mix concrete. Some markets also experienced a certain price pressure. This is true for the ready-mix concrete business in Australia, but particularly for India, were cement prices in the third quarter as usual in the monsoon season came under pressure. Based on our estimations, sales volumes will rapidly recover and due to the better utilization rate of the industry, sales prices will again increase. Also Group region Asia Pacific made further progress in reducing fixed costs. However, variable production and distribution costs particularly increased in India. The increased result was due in particular to Ambuja Cements in India as well as the Group companies in Indonesia, the Philippines and the full consolidations in Australia. Key financial figures (if not otherwise stated) 12M 9M +/ LFL CIS FX Total Sales volumes - Cement (mt) % 1.5% 3.7% - Aggregates (mt) % 16.1% 15.1% - Ready-mix (mm 3 ) % 13.2% 13.2% Net sales 21,132 15,774 16, % 7.0% 0.3% 5.0% Operating EBITDA 4,630 3,614 3, % 5.1% 0.6% -1.0% Operating profit 2,781 2,337 2, % 4.4% 1.3% -6.8% Net income before minorities 1,958 1,577 1, % 2.6% -0.8% -22.4% Net income Holcim shareholders 1,471 1, % 3.4% -1.2% -27.1% Cash flow 3,888 2,192 2, % 6.2% 0.2% -6.3% EPS in CHF % 1 Calculated on the weighted average number of shares outstanding 7 7) Sales volumes increased in all product segments largely due to the acquisition of Holcim Australia. Group net sales increased by 5 percent to 16.6 billion Swiss francs while operating EBITDA declined by 1 percent to 3.6 billion Swiss francs reflecting an increased pricing pressure in important markets and the trend toward higher variable production and distribution costs. Net income decreased by 22 percent to 1.2 billion Swiss francs. Major changes in the scope of consolidation Effective as at United Cement Company of Nigeria April 1, Holcim Australia and Cement Australia October 1, / Various smaller companies 8 5

6 Cement sales volumes by region Million t Total Group 9M M M Δ 9M 09/9M 10 LFL Change in Total structure Europe -4.8% 1.0% -3.8% North America 1.2% 0.0% 1.2% Latin America -1.8% 0.0% -1.8% Africa Middle East 7.6% -4.6% 3.0% Asia Pacific 3.2% 3.4% 6.6% Total 2.2% 1.5% 3.7% 9 9) Consolidated cement deliveries increased by 4 percent to 103 million tonnes in the first nine months, excluding the change in scope the increase was 2 percent. The biggest drivers of the increase were Ambuja Cements in India and the Group companies in Brazil and Thailand. However, not only Eastern Europe particularly Romania and Bulgaria, but also Holcim Apasco in Mexico and ACC in India weighed on the volume growth. Aggregates sales volumes by region Million t Total Group 9M M M Δ 9M 09/9M 10 LFL Change in Total structure Europe -0.8% 0.6% -0.2% North America -3.0% 0.0% -3.0% Latin America 1.1% 0.0% 1.1% Africa Middle East 0.0% 0.0% 0.0% Asia Pacific 6.5% 525.8% 532.3% Total -1.0% 16.1% 15.1% 10 10) Sales of aggregates jumped by 15 percent to 119 million tonnes due to the acquisition of Holcim Australia. Improved market demand in the UK, Germany, Switzerland and Brazil was offset by continuing difficult market conditions in the US, Spain, France, Belgium as well as in Eastern Europe. Overall like-for-like volumes declined by 1 percent. Ready-mix concrete and asphalt sales volumes by region Million m 3 /t Total Ready-mix 9M M M Total Asphalt 9M M M * Ready-mix concrete only Δ 9M 09/9M 10* LFL Change in Total structure Europe -5.4% 0.8% -4.6% North America 2.4% 0.0% 2.4% Latin America 1.3% 0.0% 1.3% Africa Middle East 0.0% 0.0% 0.0% Asia Pacific 8.2% 81.6% 89.8% Total 0.0% 13.2% 13.2% ) Ready-mix concrete volume was up 13 percent to 34 million cubic meters also due to Holcim Australia. Without acquisition growth the volumes were flat. At 8 million tonnes, asphalt volumes declined by 4 percent. 6

7 Exchange rates Statement of income average exchange rates in CHF 9M 08 9M 09 9M 10 +/- 1 EUR % 1 GBP % 1 USD % 1 LATAM Basket (MXN, BRL, ARS, CLP) % 1 Asian Basket (AUD, IDR, INR, THB, PHP) % Statement of financial position exchange rates in CHF 30/09/09 31/12/09 30/09/10 +/- 1 EUR % 1 GBP % 1 USD % 1 LATAM Basket (MXN, BRL, ARS, CLP) % 1 Asian Basket (AUD, IDR, INR, THB, PHP) % 1 Weighted by net sales 9M Weighted by net sales full year Net sales 19,340 15,774 16,568 Like-for-Like (LFL) 1, % -2, % % Change in structure % % 1, % FX movements -1, % -1, % % Total change % -3, % % 9M M M ) Consolidated net sales amounted to 17 billion Swiss francs, an increase of 5 percent. Factoring out currency movements and changes in scope, net sales decreased by 2 percent indicative of economic and seasonal impacts in our important markets, as well as slightly lower prices primarily in the cement segment. Net sales by region M M M Δ 9M 09/9M 10 LFL Change in FX Total structure Europe -5.2% 1.1% -5.2% -9.3% North America -7.2% 0.0% 0.5% -6.7% Latin America -0.1% 0.0% 2.5% 2.4% Africa Middle East 4.1% -4.0% -7.5% -7.4% Asia Pacific 1.7% 23.8% 7.2% 32.7% Total -2.3% 7.0% 0.3% 5.0% 14 7

8 Net sales by region Net sales 9M 2010 North America 14.4% Europe 30.1% Latin America 15.2% Africa Middle East 5.0% Asia Pacific 35.3% 15 15) Compared to nine months 2009, the share of net sales increased in Asia Pacific by 7 percentage points to 35 percent. The weight of Asia Pacific also increased due to our transaction in Australia in As negative market trends in North America and Europe led to declines the share of those regions shrank further by 2 percentage points and 5 percentage points respectively. Operating EBITDA Margin 22.6% 22.9% 4, % 21.6% 3,614 3,577 Like-for-Like (LFL) % % % Change in structure % % % FX movements % % % Total change % % % 1 Margin on a like-for-like basis 9M M M ) Operating EBITDA remained at 3.6 billion Swiss francs with a decrease of 1 percent. Like-forlike, operating EBITDA declined by 7 percent as a consequence of increased pricing pressure in cement coupled with increased variable production and distribution costs which offset the further achieved fixed cost reduction in the amount of 188 million Swiss francs. The related margin stood at 22 percent for the nine months, a decline of 1 percentage point also influenced by the different business mix from Holcim Australia. Operating EBITDA by region 9M M M Δ 9M 09/9M 10 LFL Change in FX Total structure Europe -14.0% 1.2% -4.6% -17.4% North America 9.8% 0.0% 1.8% 11.6% Latin America -8.3% 0.0% 1.5% -6.8% Africa Middle East 11.5% -1.1% -7.9% 2.5% Asia Pacific -8.6% 13.2% 5.6% 10.2% Total -6.7% 5.1% 0.6% -1.0% 17 17) In Group region Europe, operating EBITDA was down 17 percent reflecting not only the continued weakness in Eastern Europe but also in Spain and Italy. Factoring out currency movements and changes in scope, operating EBITDA declined by 14 percent. In Group region North America, operating EBITDA increased by 12 percent showing continued resilience in the 8

9 Canadian market and a persistent effort on cost savings in the US. In Group region Latin America, operating EBITDA declined by 7 percent influenced by hurricanes and difficult market conditions in Mexico and parts of Central America which offset strong growth in Brazil. Operating EBITDA growth in Group region Africa Middle East was a positive 3 percent despite a heavily negative currency impact. Internal growth was 12 percent on the favorable market environment particularly in Lebanon. The Group region Asia Pacific reported an increase of 10 percent in operating EBITDA benefiting from the newly acquired business in Australia. Factoring out these effects, internal operating EBITDA development declined by 9 percent due in large part to the operations at our Group company ACC in India which faced operational, market and seasonal impacts. We have also commissioned nearly 5 million tonnes of cement capacities in India thus far this year. Relatively good performance was achieved from our other Group company in India as well as those in the Philippines and Indonesia. Operating profit Margin 16.0% 3, % % 13.1% 2,337 2,178 Like-for-Like (LFL) % % % Change in structure % % % FX movements % % % Total change % % % 1 Margin on a like-for-like basis 9M M M Operating profit by region M M M Δ 9M 09/9M 10 LFL Change in structure FX Total Europe -27.7% 1.9% -3.7% -29.5% North America 15.3% 0.0% 16.6% 31.9% Latin America -10.9% 0.0% 1.4% -9.5% Africa Middle East 12.2% -0.8% -8.0% 3.4% Asia Pacific -13.3% 9.5% 4.7% 0.9% Total -12.5% 4.4% 1.3% -6.8% 19 Net income Net income Net income - shareholders of Holcim Ltd 2, % 1, % 1, % 1, % 1, % % 9M M M ) Below operating EBITDA, higher charges led to a decline in net income to 1.2 billion Swiss francs and net income attributable to shareholders of Holcim Ltd stood at 875 million Swiss francs a decline of 27 percent. The main reasons for the reduction are the newly commissioned cement 9

10 plants which led to higher depreciation charges and higher financial expenses, but revenues from associated companies also declined. Non-recurring items positively impacted net income as the first tranche of the compensation payments for the Venezuelan nationalization released a fair value in the amount of 174 million Swiss francs. A one-off, cash-neutral tax charge in the amount of 182 million Swiss francs was already booked in the first quarter as a consequence of the restructuring of the Group's interests in North America. Cash flow from operating activities Margin 13.9% 12.4% 8.6% 2,192 2,053 1,658 Like-for-Like (LFL) -1, % % % Change in structure % % % FX movements % % 5 0.2% Total change -1, % % % 9M M M ) Cash flow from operating activities declined by 6 percent to 2.1 billion Swiss francs. Factoring out changes in structure and currency, the like-for-like decline was 279 million Swiss francs or 13 percent as higher working capital requirements were only partially offset by lower income taxes. The cash flow margin decreased to 12 percent or by 1.5 percentage points. Cash flow statement 12M 9M +/ Cash flow from operating activities 3,888 2,192 2, % Net investments to maintain productive capacity and to secure competitiveness % Free cash flow 3,512 2,011 1, % Expansion investments -1,929-1, % Financial investments net 1-2, % Dividends paid % Financing requirement/surplus % 1 Retrospectively adjusted based on IAS ) Net investments to maintain productive capacity and to secure competitiveness stood at 224 million Swiss francs and expansion investments declined to 860 million Swiss francs as a consequence of the commissioning of the new cement capacities. Significant expansion projects include new clinker and grinding capacity in Russia, India, Mexico and Azerbaijan. Net financial investments resulted in an inflow of 265 million Swiss francs on recognition of the Venezuelan settlement. Overall, a cash surplus of half a billion Swiss francs was achieved. On CAPEX to maintain productive capacity and to secure competitiveness we expect to remain within our guidance for the full year of net 500 million Swiss francs and for expansion CAPEX of 1.5 billion Swiss francs. 10

11 4,000 3,000 2,000 1,000 4,000 3,000 2,000 1,000 Financial debt, maturities and liquidity as of September 30, 2010 Maturity profile (CHF million) 1,0,0 Loans Capital Markets <1y 2y 3y 4y 5y 6y 7y 8y 9y 10y >10y Loans Capital Markets O N D J F M A M J J A S O N D J F M A M J J A S Liquidity summary Current financial liabilities 1 : CHF 3,005 million Liquidity II 2 : CHF 3,668 million Liquidity III 3 : CHF 9,371 million Debt summary Fixed to floating ratio: 54% fixed Capital markets 65%; Loans 35% Corporate vs. subsidiary debt: 76% corporate Ø total maturity: 4.2 years CP borrowings: CHF 127 million No financial covenants at corporate level ST/LT ratings summary as of November 9, 2010 S&P Credit Rating: A-2 / BBB, outlook stable Fitch Credit Rating: F2 / BBB, outlook stable Moody s Credit Rating: P-2 / Baa2, outlook stable 1 Current financial liabilities adjusted for short-term drawings under long-term committed credit lines 2 Liquidity II =Cash + marketable securities 3 Liquidity III =Liquidity II + unused committed credit lines 23 23) As of September 30, cash liquidity stood at 3.7 billion Swiss francs, including unused committed credit lines, Holcim has a very comfortable amount of 9.4 billion Swiss francs available at its disposal. The average maturity of the financing was 4.2 years. Financial position Net financial debt Total shareholders' equity Gearing 59.7% 62.8% 58.3% 21,599 22,044 21,805 12,905 13,833 12, ) Total shareholders equity decreased slightly to 21.8 billion Swiss francs. Net financial debt declined by 1.1 billion Swiss francs to 12.7 billion Swiss francs due to currency impacts and the cash surplus achieved as a consequence of the savings in capital expenditure. Accordingly gearing decreased to 58 percent as of the end of September. Outlook for 2010 Prospects for the European construction markets remain subdued for 2010 In North America, little is set to change on the demand side Economic situation in Latin America is expected to remain robust in most cases the exceptions being Mexico and Central America Africa Middle East and Asia Pacific will continue to grow In India, demand for building materials is expected to again reach high growth rates following the monsoon It will be challenging for the Group to reach previous year s operating EBITDA 25 25) Apart from a few exceptions, prospects for the European construction markets remain subdued for In North America, little is set to change on the demand side. However, developments in both continents hinge to some extent on weather conditions toward year-end. The construction industry in Latin America is expected to remain robust in most cases the exceptions being Mexico and Central America. Group regions Africa Middle East and Asia Pacific will continue to grow. In India, demand for building materials is expected to come back to a normal growth level following the monsoon and the Diwali festival. It will be challenging for the Group to reach the 11

12 previous year s operating EBITDA. Holcim continues to place a strong emphasis on strengthening its cost and environmental efficiency and competitiveness. Europe mature and emerging market highlights Aggregates volumes (mt) - of which emerging markets Ready-mix volumes (mm 3 ) - of which emerging markets % 0.6% -0.2% % 0.5% 1.1% % 1.5% -10.6% % 0.8% -4.6% % 0.9% -2.7% % 0.0% -16.7% Net sales 5,664 5, % 1.1% -5.2% -9.3% 4,534 4, % 1.5% -5.4% -6.3% - of which emerging markets 1, % -0.5% -4.4% -21.3% Operating EBITDA 1, % 1.2% -4.6% -17.4% - of which emerging markets % 1.5% -4.0% -15.6% % 0.6% -5.6% -20.7% 26 Asia Pacific mature and emerging market highlights 9 months +/- (if not otherwise stated) LFL CIS FX Total Cement volumes (mt) % 1.0% -3.8% % 1.6% 0.8% - of which emerging markets % 0.0% -10.5% 9 months +/- (if not otherwise stated) LFL CIS FX Total Cement volumes (mt) % 3.4% 6.6% % 76.2% 71.4% - of which emerging markets % 0.2% 3.8% Aggregates volumes (mt) - of which emerging markets Ready-mix volumes (mm 3 ) - of which emerging markets % 525.8% 532.3% % n.m. n.m % 0.0% 0.0% % 81.6% 89.8% % n.m. n.m % 0.0% 8.9% Net sales 4,538 6, % 23.8% 7.2% 32.7% 426 1, % 253.8% 51.6% 306.6% - of which emerging markets 4,112 4, % 0.0% 2.5% 4.3% Operating EBITDA 1,306 1, % 13.2% 5.6% 10.2% - of which emerging markets % 190.1% 41.8% 227.5% 1,215 1, % 0.0% 2.8% -6.1% 27 Cement price/volume variances per region Domestic cement prices +/- 9M 09/9M 10* Domestic cement volumes +/- 9M 09/9M 10 Europe 1-4.4% -4.8% Belgium -3.5% -4.5% France -1.0% 6.9% Germany -1.6% -4.2% Switzerland -2.1% 1.1% Italy -23.5% -1.2% Hungary -8.0% -13.4% Czech Republic -6.5% 0.8% Slovakia -7.5% 45.7% Croatia -9.3% -31.1% Romania -11.0% -18.8% Bulgaria -22.6% -33.5% Serbia 10.6% -7.3% Russia -7.8% -11.0% Azerbaijan -6.6% 1.5% Spain -6.0% -1.2% * If not otherwise indicated calculation based on local currencies 1 Weighted average like-for-like 28 12

13 Cement price/volume variances per region Domestic cement prices +/- 9M 09/9M 10* Domestic cement volumes +/- 9M 09/9M 10 North America 1-4.3% 1.2% Canada 0.2% 11.9% USA -6.4% -1.8% Latin America 1 1.0% -1.8% Mexico 0.5% -9.3% El Salvador 1.1% % Costa Rica 10.8% % Nicaragua -0.1% 2 3.9% Colombia -9.8% 8.1% Ecuador 2.1% 2-4.5% Brazil -2.2% 20.3% Chile 3 Argentina 12.3% 8.4% * If not otherwise indicated calculation based on local currencies 1 Weighted average like-for-like 2 Calculation in USD 3 Locally not published yet 29 Cement price/volume variances per region Domestic cement prices +/- 9M 09/9M 10* Domestic cement volumes +/- 9M 09/9M 10 Africa Middle East 1-1.4% 7.6% Morocco -0.3% 1.6% Lebanon -0.9% 9.8% Indian Ocean -4.4% -1.4% * If not otherwise indicated calculation based on local currencies 1 Weighted average like-for-like 30 Cement price/volume variances per region Domestic cement prices +/- 9M 09/9M 10* Domestic cement volumes +/- 9M 09/9M 10 Asia Pacific 1-1.6% 3.2% India -3.8% 2.9% Sri Lanka -8.7% 30.9% Bangladesh 0.5% 15.7% Thailand 2 Vietnam -5.4% 3.1% Malaysia 3.2% 3.3% Indonesia 1.4% 11.3% Philippines 2 Australia 7.1% -5.0% New Zealand 1.2% -6.7% Group 1-3.0% 2.2% * If not otherwise indicated calculation based on local currencies 1 Weighted average like-for-like 2 Locally not published yet 31 Aggregates price/volume variances per region Domestic aggregates prices +/- 9M 09/9M 10* Domestic aggregates volumes +/- 9M 09/9M 10 Europe United Kingdom 1 2.4% 6.8% Belgium -4.3% 6.6% France 9.2% -17.6% Germany -5.4% 14.6% Switzerland -2.4% 13.0% Italy -0.3% -15.1% Romania 10.8% -27.5% Bulgaria -12.7% -24.5% Spain -8.2% -17.0% * If not otherwise stated calculation based on local currencies 1 Aggregate Industries UK incl. exports 32 13

14 Aggregates price/volume variances per region Domestic aggregates prices +/- 9M 09/9M 10* Domestic aggregates volumes +/- 9M 09/9M 10 North America Canada 1.6% -0.4% USA -1.1% -4.7% Latin America Mexico 5.8% 9.5% Brazil 6.0% 18.2% Asia Pacific Indonesia 0.0% -12.1% Australia -3.8% -8.4% * If not otherwise stated calculation based on local currencies 33 Contact information and event calendar Contact information Event calendar Corporate Communications Phone Fax Investor Relations Phone Fax March 2, 2011 Press and analyst conference on annual results for 2010 May 4, 2011 Results for the first quarter 2011 May 5, 2011 General meeting of shareholders August 18, 2011 Half-year results for 2011 November 9, 2011 Press and analyst conference for the third quarter 2011 Mailing list: 34 Disclaimer Cautionary statement regarding forward-looking statements This presentation may contain certain forward-looking statements relating to the Group s future business, development and economic performance. Such statements may be subject to a number of risks, uncertainties and other important factors, such as but not limited to (1) competitive pressures; (2) legislative and regulatory developments; (3) global, macroeconomic and political trends; (4) fluctuations in currency exchange rates and general financial market conditions; (5) delay or inability in obtaining approvals from authorities; (6) technical developments; (7) litigation; (8) adverse publicity and news coverage, which could cause actual development and results to differ materially from the statements made in this presentation. Holcim assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise. 35 Strength. Performance. Passion. Hermosillo plant, Mexico 14

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