First Quarter Results 2005 Strength. Performance. Passion. Key financial figures Million CHF Cash flow from 1 Excludes the amortization of goodwill and other intangible assets * restated 2 First quarter results 2005 0.23 0.56 143.5% 154.0% 0.63 0.61 -3.2% -5.4% 1st Quarter +/- 2004 * 2005 in CHF in loc. curr. 2,760 2,730 -1.1% 2.1% 694 658 -5.2% -1.3% 375 411 9.6% 14.4% 101 169 67.3% 73.3% 60 77 28.3% 33.3% Full Year 2004 Net sales 13,215 Operating EBITDA 3,588 Operating profit 2,251 Net income 1,153 operating activities 2,622 EPS in CHF 4.32 Cash EPS in CHF 1 5.95 1 Balance sheet only no statement of income 3 First quarter results 2005 1) weighted by net sales Q1 2004 2) weighted by net sales full year 2004 4 First quarter results 2005 Cement and clinker sales volumes by region Million t 6.1 5.5 Q1 2004 3.0 3.0 Q1 2005 6.2 6.8 5.0 5.4 3.1 3.2 ∆ Q1 04/Q1 05 LFL Change in Total structure Europe -9.8% 0.0% -9.8% North America 0.0% 0.0% 0.0% Effective as at Cement capacity + Cemento de El Salvador S.A. de C.V. December 31, 2004 1.7 million t + Aggregate Industries plc March 31, 2005 1 – +/– Various smaller companies 31/12/03 31/12/04 31/3/05 +/- 1 EUR 1.56 1.55 1.55 0.0% 1 USD 1.24 1.14 1.20 5.3% 1 African Basket (EGP, ZAR, MAD) 2) 0.95 1.00 0.98 -2.0% 1 Asian Basket (AUD, NZD, THB, PHP) 2) 1.02 1.00 1.02 2.0% Statement of income average exchange rates in CHF Q1 03 Q1 04 Q1 05 +/- 1 EUR 1.47 1.57 1.55 -1.3% 1 USD 1.36 1.26 1.18 -6.3% 1 African Basket (EGP, ZAR, MAD) 1) 0.96 1.00 1.02 2.0% 1 Asian Basket (AUD, NZD, THB, PHP) 1) 0.97 1.00 0.96 -4.0% Major changes in the scope of consolidation Exchange rates Latin America 2.0% 6.0% 8.0% Africa Middle East 3.2% 0.0% 3.2% Asia Pacific 9.7% 0.0% 9.7% Total 0.5% 1.3% 1.8% 5 First quarter results 2005 Sales volumes aggregates and ready-mix concrete Aggregates sales in million t Ready-mix concrete sales in million m 3 20.2 17.8 - 0.6% + 13.5% 18.2 - 9.9% 5.6 + 1.8% 6.1 + 8.9% 6.3 + 3.3% Q1 2003 Q1 2004 Q1 2005 6 First quarter results 2005 Net sales Million CHF 2,760 2,730 2,467 Like-for-like (LFL) -73 -2.5% 283 11.5% 19 0.7% Change in structure 3 0.1% 20 0.8% 40 1.4% Forex movements -310 -10.9% -10 -0.4% -89 -3.2% Total change -380 -13.3% 293 10.6% -30 -1.1% Q1 2003 Q1 2004 Q1 2005 7 First quarter results 2005 Net sales by region Million CHF 981 381 405 914 Q1 2004 Q1 2005 715 675 325 379 466 495 ∆ Q1 04/Q1 05 LFL Change in Currency Total structure Europe -5.2% -0.7% -0.9% -6.8% North America 10.8% 0.0% -4.5% 6.3% Latin America -4.6% 5.3% -6.3% -5.6% Africa Middle East 14.5% 2.7% -0.6% 16.6% Asia Pacific 11.8% -0.2% -5.4% 6.2% Total 0.7% 1.4% -3.2% -1.1% 8 First quarter results 2005 Net sales by region Sales Q1 2005 North America 14% Europe 32% Latin Asia Pacific 17% America 24% Africa Middle East 13% 9 First quarter results 2005 Operating EBITDA Million CHF 24.2% 597 Margin 25.1% 694 24.1% 658 Like-for-like (LFL) 15 2.3% 109 18.2% -31 -4.5% Change in structure 5 0.8% 7 1.2% 22 3.2% Forex movements -89 13.5% -19 -3.2% -27 -3.9% Total change -69 -10.4% 97 16.2% -36 -5.2% Q1 2003 Q1 2004 Q1 2005 10 First quarter results 2005 Operating EBITDA by region Million CHF 216 Q1 2004* Q1 2005 175 29 43 284 250 117 117 92 127 ∆ Q1 04/Q1 05 LFL Change in Currency Total structure Europe -19.4% 1.4% -1.0% -19.0% North America 62.1% 0.0% -13.8% 48.3% Latin America -12.3% 6.3% -6.0% -12.0% Africa Middle East 34.8% 2.2% 1.0% 38.0% Asia Pacific 6.0% -0.9% -5.1% 0.0% Total -4.5% 3.2% -3.9% -5.2% * restated 11 First quarter results 2005 Operating profit Million CHF Margin 13.6% 15.1% 11.6% 411 375 287 Like-for-like (LFL) 26 8.4% 99 34.5% -23 -6.1% Goodwill amortization 59 15.7% Change in structure -2 -0.6% 5 1.7% 18 4.8% Forex movements -47 -15.2% -16 -5.5% -18 -4.8% Total change -23 -7.4% 88 30.7% 36 9.6% Q1 2003 Q1 2004 Q1 2005 12 First quarter results 2005 Operating profit by region Million CHF 100 2 -16 92 Q1 2004* Q1 2005 207 192 59 72 70 107 ∆ Q1 04/Q1 05 LFL Goodwill Change in Currency Total amort. structure Europe -43.0% 32.0% 4.0% -1.0% -8.0% North America 125.0% 6.3% -6.3% -12.5% 112.5% Latin America -14.5% 6.8% 6.8% -6.3% -7.2% Africa Middle East 44.3% 4.3% 2.9% 1.4% 52.9% Asia Pacific 13.6% 15.3% -1.7% -5.2% 22.0% Total -6.1% 15.7 % 4.8% -4.8% 9.6% * restated 13 First quarter results 2005 Group net income Net income in million CHF Attributable to Equity holders of Holcim Ltd 169 + 67.3% 128 + 184.4% 101 + 74.1% 58 - 55.0% 45 + 350.0% 10 - 87.0% * restated Q1 2003 Q1 2004 * Q1 2005 14 First quarter results 2005 Cash flow from operating activities Million CHF 1st Quarter +/- 2004 2005 60 77 28.3% -125 -147 17.6% -65 -70 7.7% -63 -98 55.6% -880 -3,586 307.5% -19 -50 163.2% -1,027 -3,804 270.4% 98 77 60 Like-for-like (LFL) 20 18.5% - 24 -24.5% -4 -6.7% Change in structure -5 -4.6% -1 -1.0% 24 40.0% Forex movements -25 -23.2% - 13 -13.3% -3 -5.0% Total change -10 -9.3% - 38 -38.8% 17 28.3% Q1 2003 Q1 2004 Q1 2005 15 First quarter results 2005 Cash flow statement Investments to maintain productive 16 First quarter results 2005 Financing Million CHF Full Year 2004 Cash flow from operating activities 2,622 capacity and to secure competitiveness -755 Free cash flow 1,867 Expansion investments -368 Financial investments net -1,279 Dividends paid -392 Financing requirement -172 1st Quarter +/- 2004 2005 -1,027 -3,804 270.4% – – 2 430 354 4,789 28 16 -643 1,431 -322.6% In(De)crease in cash and 17 First quarter results 2005 Financial position 111.7% 101.0% 13,027 9,441 9,538 10,661 11,659 64.2% * restated 6,846 31/03/2004 31/12/2004 * 31/03/2005 Shareholders' equity in million CHF Net financial debt in million CHF Gearing 18 First quarter results 2005 + / - Q1 04/Q1 05 Million CHF Full Year 2004 Financing requirement -172 Capital paid-in 1,458 Movements of treasury shares net -40 Increase in financing liabilities 74 Decrease in marketable securities 20 cash equivalents 1,340 Europe Belgium France Germany Switzerland Italy Hungary Czech Republic Slovak Republic Croatia Romania Bulgaria Serbia Spain North America Canada USA Latin America Mexico Costa Rica Nicaragua Panama Venezuela Colombia Ecuador Brazil Chile Argentina Domestic cement pric es + / - Q1 04/Q1 05 -2.8% 5.0% 27.9% -1.4% -1.4% 4.7% -0.7% 1.9% 0.4% 19.5% 7.6% 16.2% 9.6% Domestic cement prices + / - Q1 04/Q1 05 * 8.1% 13.4% -2.9% 11.5% 6.7% 4.3% 28.0% -28.1% 1.8% -10.0% -2.2% -0.3% Price / volume variances per region Domestic cement volumes -14.8% -10.8% -37.8% 6.5% -10.3% -17.8% -1.0% -58.6% -17.8% 8.6% 65.7% -39.7% -1.3% 19 First quarter results 2005 + / - Q1 04/Q1 05 -9.2% 1.1% -8.5% -13.2% -12.0% -20.0% 6.3% 5.7% 5.7% 3.7% 9.6% 14.1% 20 First quarter results 2005 + / - Q1 04/Q1 05 -0.6% 10.4% -5.4% * Calculation based on local currencies Price / volume variances per region Domestic cement volumes * Calculation based on local currencies Africa Middle East Morocco Egypt Lebanon Indian Ocean South Africa Domestic cement pric es + / - Q1 04/Q1 05 4.1% 19.0% 17.3% -0.4% 9.4% Asia Pacific Azerbaijan Sri Lanka Bangladesh Thailand Vietnam Malaysia Singapore Indonesia Philippines Australia New Zealand Domestic cement prices + / - Q1 04/Q1 05 * 18.7% 24.7% 10.0% -16.2% 0.0% -16.8% 0.7% -1.7% 22.0% 1.3% 9.0% Price / volume variances per region Domestic cement volumes [...]... November 9, 2005 Third quarter results 2005 Conferences for press and analysts March 1, 2006 Investor Relations Phone +41 58 858 87 87 Fax +41 58 858 80 09 investor.relations @holcim. com www .holcim. com/investors Event calendar May 2, 2005 Annual results 2005 Conferences for press and analysts 24 First quarter results 2005 Strength Performance Passion 23 First quarter results 2005 Contact information... Strength Performance Passion 23 First quarter results 2005 Contact information and event calendar Contact information Corporate Communications Phone +41 58 858 87 10 Fax +41 58 858 87 19 communications @holcim. com Mailing list: www .holcim. com/subscribe First quarter results 2005 May 3, 2005 General meeting of shareholders May 6, 2005 Dividend payment August 25, 2005 Half-year results 2005 November 9, 2005. .. communications @holcim. com Mailing list: www .holcim. com/subscribe First quarter results 2005 May 3, 2005 General meeting of shareholders May 6, 2005 Investor Relations Phone +41 58 858 87 87 Fax +41 58 858 80 09 investor.relations @holcim. com www .holcim. com/investors Event calendar May 2, 2005 Dividend payment August 25, 2005 Half-year results 2005 November 9, 2005 Third quarter results 2005 Conferences... 20 First quarter results 2005 * Calculation based on local currencies + / - Q1 04/Q1 05 -0.6% 10.4% -5.4% -13.7% 14.0% 21 First quarter results 2005 * Calculation based on local currencies + / - Q1 04/Q1 05 -2.1% -1.1% 9.4% 26.4% 23.7% -7.8% 55.6% 12.8% -15.9% 4.5% Domestic cement volumes 2.7% Price / volume variances per region 22 First quarter results 2005 * Calculation based on local currencies Strength. .. restated First quarter results 2005 Group net income Net income in million CHF Attributable to Equity holders of Holcim Ltd 169 + 67.3% 1st Quarter +/- 2004 2005 60 77 28.3% -125 -147 17.6% -65 -70 7.7% -63 -98 55.6% -880 -3,586 307.5% -19 -50 163.2% -1,027 -3,804 128 + 184.4% 270.4% 101 + 74.1% 58 45 - 55.0% + 350.0% 10 Q1 2003 - 87.0% Q1 2004 * * restated Q1 2005 14 First quarter results 2005 Cash... restated First quarter results 2005 Operating profit Margin Million CHF 13.6% 15.1% 11.6% 411 375 287 Like-for-like (LFL) 26 8.4% Goodwill amortization Change in structure -2 -0.6% Forex movements -47 -15.2% Total change -23 -7.4% 99 5 -16 88 Q1 2003 34.5% -23 59 18 -18 36 1.7% -5.5% 30.7% Q1 2004 -6.1% 15.7% 4.8% -4.8% 9.6% Q1 2005 12 First quarter results 2005 Operating profit by region Q1 2004* Q1 2005. .. 31/03 /2005 Net financial debt in million CHF 18 First quarter results 2005 + / - Q1 04/Q1 05 Domestic cement pric -14.8% -10.8% -37.8% 6.5% -10.3% -17.8% -1.0% Domestic cement volumes -58.6% Price / es volume variances per region Africa Middle East Morocco Egypt Lebanon Indian Ocean South Africa + / - Q1 04/Q1 05 4.1% 19.0% 17.3% -0.4% 9.4% -17.8% 8.6% 65.7% -39.7% -1.3% 19 First quarter results 2005. .. Pacific Total 2.0% 3.2% 9.7% 0.5% 6.0% 0.0% 0.0% 1.3% 8.0% 3.2% 9.7% 1.8% 5 First quarter results 2005 Sales volumes aggregates and ready-mix concrete Aggregates sales in million t Ready-mix concrete sales in million m3 20.2 + 13.5% 17.8 18.2 - 9.9% - 0.6% 5.6 6.1 6.3 + 1.8% + 8.9% + 3.3% Q1 2003 Q1 2004 Q1 2005 6 First quarter results 2005 Net sales Million CHF 2,760 2,730 2,467 Like-for-like (LFL) Change... region 22 First quarter results 2005 * Calculation based on local currencies Strength Performance Passion Key financial figures Million CHF Full Year 2004 Net sales 13,215 Cash flow EBITDA Operating from 3,588 Operating profit 2,251 Net income 1,153 operating activities 2,622 EPS in CHF Cash EPS in CHF 1 4.32 1 5.95 Excludes the amortization of goodwill and other intangible assets * restated 2 First quarter. .. (AUD, NZD, THB, PHP) 1.20 5.3% 1.00 0.98 -2.0% 1.02 2) 1.14 0.95 2) +/-1.3% First quarter results 2005 1) 1 USD 3 1.00 1.02 2.0% Exchange rates 1) weighted by net sales Q1 2004 2) weighted by net sales full year 2004 4 First quarter results 2005 Cement and clinker sales volumes by region Million t 6.1 3.0 3.0 6.2 3.1 5.0 Q1 2004 Q1 2005 5.5 5.4 6.8 3.2 Total ∆ Q1 04/Q1 05 LFL Europe North America -9.8% . -1.1% 8 First quarter results 2005 Net sales by region Sales Q1 2005 North America 14% Europe 32% Latin Asia Pacific 17% America 24% Africa Middle East 13% 9 First quarter results 2005 Operating. -38.8% 17 28.3% Q1 2003 Q1 2004 Q1 2005 15 First quarter results 2005 Cash flow statement Investments to maintain productive 16 First quarter results 2005 Financing Million CHF Full Year 2004 Cash . -1.1% 8 First quarter results 2005 Net sales by region Sales Q1 2005 North America 14% Europe 32% Latin Asia Pacific 17% America 24% Africa Middle East 13% 9 First quarter results 2005 Operating