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1 PRESENTATION TO ANALYSTS Results for First Quarter of 2007 Madrid, April 25, 2007 GRUPO.

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Presentation on theme: "1 PRESENTATION TO ANALYSTS Results for First Quarter of 2007 Madrid, April 25, 2007 GRUPO."— Presentation transcript:

1 1 PRESENTATION TO ANALYSTS Results for First Quarter of 2007 Madrid, April 25, 2007 GRUPO

2 2 1.Results for First Quarter of Plan for Capturing Synergies 3.Structure of the Cementos Portland Valderrivas Group 4.Prospects for 2007 Contents

3 3 1. Results for First Quarter of Variation (%) Cement and Clinker (mill.TM) Cement (mill.m3) Arids (mill.TM) Mortar (mill.TM) 4,7 2,1 6,3 0,7 2,6 1,3 4,0 0,2 81,3 62,3 56,4 199,1 Sales volume in physical units Main figures from first quarter of 2007

4 Variation (%) Turnover 471,7278,2 69,6 Gross Operating Results (EBITDA) 150,291,0 65,1 Result Before Taxes Result After Taxes Minority Interests 77,5 55,0 -12,0 62,3 41,2 -1,3 24,4 33,5 860,0 Attributable Net Result Adjusted Attributable Net Result (1) 43,0 47,4 40,0 7,6 18,6 Net Resources Generated by Investment Operations 150,2 98,9 94,3 261,8 59,2 (62,2) Net Debt (as of : 1.474,5) Total Assets Capitalization (as of March 31) 1.485, , , , ,7 1,5 30,7 Main figures in millions of euros (1)Adjusted by 4,4 million euros (2)As of (3)As of Results for First Quarter of 2007 (2)(3)

5 5 Relevant events in the first quarter of 2007 Consolidation of Cementos Lemona and Corporación Uniland through global integration. Fiscal group for Cementos Portland Valderrivas as of January 1, 2007 Increase in the shareholding in Corporación Uniland: As of August 1, date on which 51% was acquired, purchases of up to 56,55% have been executed as of March 31, 2007 At a later time, purchases were executed (April 12, 2007) for up to 59,02% Positive contribution of Uniland since 1Q 07 Dividend: Complementary dividend of 2,08 €/share to be proposed to the General Shareholders of Cementos Portland Valderrivas Total dividend in 2006:3,16 € Pay-out:50% (88 million euros) Increase of 26,4% compared to the amount paid out in Results for First Quarter of 2007

6 6 Turnover (M €) 69,6% 471,7 278,2 International Turnover Figure (M €) 69,7% 97,1 57,2 EBITDA (M €) 65,1% 150,2 91,0 Attributable N.P. and adjusted A.N.P. (M €) 18,6% 47,4 40,0 43,0 1. Results for First Quarter of 2007 Main figures on the first quarter of 2007

7 7 Breakdown of turnover by lines of business 2007 Total: 471,7 M€ 2006 Total: 278,2 M€ 1. Results for First Quarter of 2007 Cement 63% Others 3% Arids 4% Dry Mortar 6% Concrete 24% Cement 66% Others 5% Arids 4% Dry Mortar 2% Concrete 23%

8 8 Breakdown of turnover by countries 2007 Total: 471,7 M€ 2006 Total: 278,2 M€ 1. Results for First Quarter of 2007 Spain 79% Others 2% Arg-Uru 4% Tunisia 4% USA 11% Spain 79% Others 2% USA 19%

9 9 Stock market changes compared to the IBEX 35 Since January 1, 2006Since January 1, Results for First Quarter 2007 Data as of April 23, 2007

10 10 24% Stock market changes compared to other cement companies Since January 1, 2002Since January 1, % 75% 46% 25% 18% 52% 115% 286% 222% 70% 38% 232% 16% 1. Results for First Quarter 2007 Data as of April 23, 2007

11 11 1.Results for First Quarter of Plan for Capturing Synergies 3.Structure of the Cementos Portland Valderrivas Group 4.Prospects for 2007 Contents

12 12 –As a result of the integration of Lemona and Uniland, without changing the legal structure of the companies which make it up for that reason, the CPV Group has updated the volume of forecasted synergies –The new estimate of total synergies amounts to more than 40 M€ per year 36 M€ in terms of EBITDA due to savings on costs and optimization of sales 5 M€ due to decreases in investments and fiscal optimization of the Group –The Plan to capture synergies is moving forward at the expected pace More than 160 initiatives for saving on costs have been identified, of which 12 represent 80% of estimated savings; their completion is expected in late 2007 It is estimated that 50% of the annual savings will be achieved in Plan for Capturing Synergies

13 13 1.Re-organization of the corporate structure and unification of processes 2.Joint contracting of professional services (legal affairs, etc.) 3.Taking advantage of the best insurance contracting conditions 4.Optimization of sales by zones 5.Improvement in efficiencies in transport management 6.Optimization of export flows 7.Savings due to joint purchasing of raw materials 8.Optimization of cement transport costs 9.Reduction of costs through aggregate importing of clinker and cement 10.Extension of the use of agents which reduce hexavalant chrome 11.Optimization of product types manufactured by plant 12.Taking advantage of fiscal synergies in the Group 2. Plan for Capturing Synergies 12 initiatives, of the 160 identified, and 70 quantify, entail 80% of the value of the synergies Integration of corporation tasks (11 M€) Integration of sales (7 M€) Operational and logistical optimization (16 M€) Financial and fiscal optimization (8 M€)

14 14 1.Results for First Quarter of Plan for Capturing Synergies 3.Structure of the Cementos Portland Valderrivas Group 4.Prospects for 2007 Contents

15 15 Internal Auditing SpainOther Countries USA Auditing Commission Secretary General President Chief Executive Officer José Ignacio Martínez-Ynzenga Vicente Ynzenga Planning and Control President’s Attaché José Manuel Revuelta José Ig. Domínguez Technical Pablo Espeso Administration and Finance Jaime Urculo Marketing and Sales Angel Luis Heras Legal Consultancy José Luis Gómez Human Resources Mª Luisa Otero * Corporate and Institutional Relations Manuel Melgar Angel Luis HerasManuel Llop 3. Structure of the Cementos Portland Valderrivas Group

16 16 1.Results for First Quarter of Plan for Capturing Synergies 3.Structure of the Cementos Portland Valderrivas Group 4.Prospects for 2007 Contents

17 17 4. Prospects for 2007 Expected developments in results –Until the end of 2007, the prospects for the market where the Group is present are for sustained growth in sales volumes in Spain, high rates of growth in Tunisia, Argentina and Uruguay, sustained figures in the UK and a slight decrease in the US –The changes in prices entail average growth which is higher than inflation rates –The Group will continue to work along its lines of action to mitigate the effects of increases in costs of fuel, electrical energy and environmental requirements –It was ratified that, throughout 2007, 50% of the synergies estimated in the acquisitions of Lemona and Uniland be captured (20 MM€) Sales (M €) > 20% > EBITDA (M €) > 25% > 620 Net Profit (M €) > 20% > 200

18 18 PRESENTATION TO ANALYSTS Results for First Quarter of 2007 Madrid, April 25, 2007 GRUPO


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