Presentation - Italcementi Group
Presentation - Italcementi Group
Presentation - Italcementi Group
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2009: response to the downturn exceeding our goals<br />
Management initiatives leading to an improved operating platform<br />
Cost<br />
Savings<br />
2009 Target<br />
EURm 220<br />
Fixed and variable cost<br />
cutting initiatives lead to<br />
a lower break-even<br />
point<br />
Achieved<br />
EURm 242<br />
Working<br />
Capital<br />
Reduction<br />
Inventories Trade Receivable Trade Payable<br />
Solid fuels action<br />
plan<br />
Clinker inventory<br />
control<br />
Spare parts<br />
inventory<br />
optimisation<br />
Focus on DSO<br />
in spite of<br />
difficult market<br />
conditions<br />
Renegotiation of<br />
payment terms,<br />
partially off-set<br />
by volume effect<br />
2009 Target<br />
EURm<br />
(170)/(190)<br />
Achieved<br />
EURm (380)<br />
Actions on working<br />
capital with positive<br />
impact on net financial<br />
position<br />
Investment<br />
Plan<br />
(CapEx +<br />
Equity)<br />
Strategic Projects Non Strategic Capex Equity Investments<br />
New state-ofthe-art<br />
capacity<br />
~7.4 Mt/y of<br />
which ~3.4<br />
Mt/y additional<br />
on stream by<br />
2010<br />
Strong<br />
selectivity<br />
No transaction<br />
waiting for better<br />
opportunities in<br />
2010<br />
2009 Target<br />
EURm(150)<br />
vs 2008<br />
Achieved<br />
EURm (245)<br />
Total spending<br />
contained, protecting<br />
investments targeted to<br />
efficiency enhancement<br />
in mature markets and<br />
capacity expansion in<br />
emerging markets<br />
<strong>Italcementi</strong> <strong>Group</strong> Mediobanca – Copenhagen Roadshow, 16 June 2010<br />
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