PRESS RELEASE - Monier.com

PRESS RELEASE
PRESSEINFORMATION
Luxembourg/Oberursel, 26 May 2010 Contact:
Nicole Pichin
Tel.: +49 61 71 61 25 93
Fax: +49 61 71 61 24 02
Email: nicole.pichin@monier.com
MONIER GROUP EMERGES STRONGER FROM
2009 FINANCIAL YEAR
• Market share successfully maintained and in some cases expanded
• Large geographical coverage ensures sales of 1.245 billion euros (-17.3%) despite
difficult market environment
• Operating cash flow maintained at 2008 levels through effective working capital
management and expenditure controls
• Successful conclusion of financial restructuring puts Group on a sound long-term
financial footing, and greatly reduces net debt
The Monier Group performed well in the 2009 financial year. In a market overshadowed by
the global economic downturn, demand for roofing materials in 2009 fell significantly
compared with the previous year. In the first quarter in particular, volumes were also
impacted by the harsh winter in many European markets and in the USA. However, the
downturn gradually eased as the year progressed.
Headquartered in Luxembourg, the Monier Group is the world’s leading supplier of pitched
roofing materials and innovative roofing, chimney and ventilation systems. In 2009, the
Group’s total sales fell by 17.3% to 1.245 billion euros. Sales declined most sharply in
Eastern Europe, the USA, South Africa and Turkey. However, growth was recorded in Italy
and in key Asian markets, especially Malaysia and China (which together account for 90% of
the Group’s sales in the Asia Pacific region). Sales in Germany too declined only slightly, and
were therefore above expectations.
Monier Group S.à r.l., 5, rue Jean Monnet, L-2180 Luxembourg
T +352 2 64 20-475 F +352 2 64 20-664 www.monier.com
MORE POWER TO YOUR ROOF

Comments Pepyn Dinandt, CEO of the Monier Group: “Despite lower sales and increased
competitive pressure, Monier performed well compared to other players in its industry and
emerged from the 2009 financial year in a stronger position. This is due to our large
geographical coverage and broad product range, but also more particularly to our prompt
and systematic efforts to improve performance, adjust capacity and manage capital
expenditure appropriately. This enabled us to maintain our position as the world’s leading
manufacturer of roofing materials, and in certain areas, including France and the UK, to
actually expand our market share. In doing so, we have laid the foundations for sustainable
future growth.”
Initiatives to improve performance and liquidity
The “World Class Monier” performance improvement programme, which was launched in the
second half of 2008, gathered momentum in 2009, with some 1,500 individual initiatives. The
focus was not just on cost reduction (e.g. through purchasing synergies and productivity
gains), but also on measures to increase sales and profitability, for example by improving
commercial performance. The result was a fall in fixed costs of more than 50 million euros.
Improving cash management was one of the Group’s priorities for the last financial year. The
Group’s liquidity position was improved through effective working capital management and
expenditure controls.
Financial restructuring successfully concluded in 2009
The Group’s significantly improved liquidity position, combined with the successful
conclusion of its financial restructuring in 2009, puts it on a sound long-term financial footing,
and gives it the necessary flexibility to pursue strategic opportunities in its key markets. The
refinancing agreement reduces interest-bearing loans by approximately two thirds, and
annual interest payments by approximately 80%. The additional credit line of 150 million
euros will ensure the Group is able to exploit future growth opportunities to strengthen its
global market-leading position.
Outlook for 2010 and strategic priorities
In 2010, ongoing uncertainty about the overall economic situation again represents the most
significant challenge for effective forward planning. The building materials sector continues to
suffer from low demand from residential and public-sector construction in the current financial
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year. “After a slow start in January and February due to the weather conditions, there were
tentative signs in March that business is picking up, especially in Germany,” says Jürgen
Koch, CFO of the Monier Group.
For the financial year as a whole, the Group expects demand to strengthen slightly in most
Western European markets. Asian roofing material markets, including China and India,
should also grow slightly. In the USA, there are signs of a slight upturn, though demand
remains at a very low level in comparison with previous years. The business environment in
Eastern European countries is expected to remain difficult. For its chimney and ventilation
system business line, Monier expects demand to remain steady.
CEO Pepyn Dinandt sums up the Group’s strategic priorities for the current financial year as
follows: “The key is to be present in attractive markets with high growth potential, and to offer
the right products. We want to expand our offering to customers in ways that add genuine
value, and not just in our core business areas – we also see enormous potential in new
fields, such as the megatrend towards energy-efficient construction. By leveraging our long
experience of roofing and the strength of our brands, we can utilize the full potential of roofs
as a driver of sustainability, and thereby generate value for our customers, employees and
owners.”
About Monier
The Monier Group is the world’s leading provider of building materials for pitched roofs, and
innovative roofing, chimney and ventilation systems. Its holding company is headquartered in
Luxembourg, and it operates in 42 countries across four continents. Decades of experience,
a comprehensive product offering and constant innovation enable the Group to exploit the full
potential of the sustainable roofing concept, to the benefit both of customers and of present
and future generations. In 2009, the Group employed 9,667 people (1,877 of them in
Germany) and generated sales of 1.245 billion euros. For more information, visit
www.monier.com.
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