Results 2009 and outlook for 2010 2010 holcim ltd switzerland

© 2010 Holcim Ltd/Switzerland
Phu My Bridge, Vietnam
Results 2009 and outlook for 2010
1
Results 2009
© 2010 Holcim Ltd/Switzerland
Challenging economic environment
y Decreasing demand for building materials in Europe and
North America
y Growing or stable demand for building materials in most
of the Emerging Markets
y No significant trend change visible in the fourth
quarter of 2009
2
Results 2009
© 2010 Holcim Ltd/Switzerland
Holcim reacts swiftly and increases its efficiency
y Reduction of fixed costs reached CHF 857 million on a
like-for-like basis
y Higher operating EBITDA margin in all segments in the
second half of the year
y Cement capacity scaled back by more than 10 million t
y More than 100 aggregates and ready-mix concrete plants
closed
y Strategic capacity expansion program continued
y Acquisition in Australia strengthens the Group
3
Results 2009
© 2010 Holcim Ltd/Switzerland
Strong liquidity, lower net debt
y Beginning of 2009, high priority was given to securing

liquidity
y Capital market transactions strengthened balance sheet
and extended the average maturity of existing debt
y Higher cash flow from operating activities
y Unchanged dividend payout ratio; proposed cash dividend
of CHF 1.50 per registered share
y Non-binding advisory vote on the compensation report
y Executive Committee to be enlarged
4
Results 2009
© 2010 Holcim Ltd/Switzerland
Difficult economic situation in Europe
y Decreasing construction activity in the eurozone, but solid
order book in Switzerland
y Aggravated market conditions in Spain, the UK, Italy,
Eastern Europe and Russia
y Volume decline in all segments
y Capacity adjustments and extensive cost-cutting programs
eased the pressure on the income statement
y Lower operating EBITDA as a result of market conditions
and currency factors
5
Results 2009
© 2010 Holcim Ltd/Switzerland
North America hit by the crisis
y Difficult situation on the US construction market persists;
US government’s stimulus programs with no significant
impact
y Situation in Canada slightly better
y Declining sales volumes in all segments

y Rigorous cost management and plant closures
y Market environment adversely impacted results
of Holcim US
y Aggregate Industries US achieved better results
y Slightly higher operating margins
6
Results 2009
© 2010 Holcim Ltd/Switzerland
Resilient Latin America
y Government programs supported construction activity
y Declining construction activity in Mexico and Central
America
y Only moderate sales declines on a like-for-like basis
y Results improved especially in Ecuador, Brazil and
Argentina
y Organic growth in operating EBITDA
7
Results 2009
© 2010 Holcim Ltd/Switzerland
Solid business activity in Africa Middle East
y Sales volumes remained on high levels
y Strong demand for construction materials in Morocco and
the Lebanon
y Decrease in cement deliveries in the Indian Ocean region
y Higher operating EBITDA and organic growth
8
Results 2009
© 2010 Holcim Ltd/Switzerland
Growing demand in Asia Pacific
y Construction industry still on the up, especially in India

y Higher sales volumes in all segments
y Acquisition in Australia strengthens the Group
y Above-average increase of operating EBITDA
y Remarkable performance improvement in India, the
Philippines and Indonesia
9
Results 2009
© 2010 Holcim Ltd/Switzerland
Key financial figures – Full year 2009
1
Includes a capital gain on the sale of a stake in Holcim South Africa of CHF 1,110 million and a special dividend of CHF 150 million, net
2
Includes a special dividend of CHF 150 million, net related to the sale of a stake in Holcim South Africa
3
Calculated on the weighted average number of shares outstanding retrospectively restated in accordance with IAS 33
4
Paid as a stock dividend
5
Proposed by the Board of Directors
LFL CIS FX Total
Sales volumes
- Cement (mt)
149.6 143.4 131.9 -6.8% -1.2% -8.0%
- Aggregates (mt)
187.9 167.7 143.4 -19.6% 5.1% -14.5%
- Ready-mix (mm
3
)
45.2 48.5 41.8 -17.5% 3.7% -13.8%
Net sales

27,052 25,157 21,132 -10.0% 0.8% -6.8% -16.0%
Operating EBITDA
6,930 5,333 4,630 -5.1% -0.7% -7.4% -13.2%
Operating profit
5,024 3,360 2,781 -7.3% -2.1% -7.8% -17.2%
Net income before
minorities
4,545
1
2,226 1,958 -5.8% -1.0% -5.2% -12.0%
Net income attr. to
Holcim shareholders
3,865
1
1,782 1,471 -11.2% -1.7% -4.6% -17.5%
Cash flow
5,323
2
3,703 3,888 12.0% 1.6% -8.6% 5.0%
EPS CHF
3
9.21 6.27 4.93 -21.4%
Dividend/share CHF
3.30 2.25
4
1.50
5
-33.3%
Million CHF
(if not otherwise stated)

+/-
2007 2008 2009
10
Results 2009
© 2010 Holcim Ltd/Switzerland
2008 2009
LFL CIS FX Total
Sales volumes
- Cement (mt)
34.6 32.8 -5.2% 0.0% -5.2%
- Aggregates (mt)
40.4 40.2 -16.6% 16.1% -0.5%
- Ready-mix (mm
3
)
11.5 11.4 -11.3% 10.4% -0.9%
Net sales
5,817 5,358 -8.8% 5.7% -4.8% -7.9%
Operating EBITDA
968 1,016 4.9% 5.6% -5.5% 5.0%
Operating profit
273 444 64.5% 7.3% -9.2% 62.6%
Net income before
minorities
119 381 184.9% 19.3% 16.0% 220.2%
Net income attr. to
Holcim shareholders
43 271 437.2% 32.6% 60.4% 530.2%
Cash flow
2,045 1,696 -16.5% 4.1% -4.7% -17.1%

Million CHF
(if not otherwise stated)
+/-Q4
Key financial figures – Q4 2009
11
Results 2009
© 2010 Holcim Ltd/Switzerland
Major changes in the scope of consolidation
Effective as at
– Egyptian Cement Company January 23, 2008
– Holcim Venezuela December 31, 2008
– Panamá Cement and Cementos Colón December 31, 2008
– United Cement Company of Nigeria April 1, 2009
+ Holcim Australia and Cement Australia October 1, 2009
+/– Various smaller companies
12
Results 2009
© 2010 Holcim Ltd/Switzerland
Cement – Sales volumes by region
Δ
2008/2009 LFL Change in
structure
Total
Europe -21.1% 0.9% -20.2%
North America -25.7% 0.0% -25.7%
Latin America -6.3% -9.9% -16.2%
Africa Middle East -5.2% -4.1% -9.3%
Asia Pacific 0.9% 1.7% 2.6%
Total -6.8% -1.2% -8.0%
10.7

14.4
16.4
26.9
34.3
33.7
67.3
65.6
64.9
8.8
9.7
14.5
22.8
26.6
27.2
Total Group
2007 149.6
2008 143.4
2009 131.9
Million t
13
Results 2009
© 2010 Holcim Ltd/Switzerland
Aggregates – Sales volumes by region
Δ
2008/2009 LFL Change in
structure
Total
Europe -22.6% 2.9% -19.7%
North America -19.1% 0.6% -18.5%
Latin America -5.2% -6.7% -11.9%

Africa Middle East -3.7% 0.0% -3.7%
Asia Pacific -10.6% 131.9% 121.3%
Total -19.6% 5.1% -14.5%
40.2
49.3
56.9
10.4
4.7
4.0
2.62.7
5.7
11.8
12.5
13.4
Total Group
2007 187.9
2008 167.7
2009 143.4
Million t
78.4
108.8
97.6
14
Results 2009
© 2010 Holcim Ltd/Switzerland
17.0
6.6
5.6
19.8
21.0

6.8
Ready-mix concrete and asphalt – Sales volumes
by region
Δ
2008/2009 * LFL Change in
structure
Total
Europe -23.3% 4.3% -19.0%
North America -24.7% 0.0% -24.7%
Latin America -10.3% -3.4% -13.7%
Africa Middle East -8.3% 0.0% -8.3%
Asia Pacific -8.2% 19.2% 11.0%
Total -17.5% 3.7% -13.8%
5.5
7.37.3
6.8
5.4
8.0
8.1
7.3
5.8
1.1
1.2
1.7
10.1
10.6
11.7
Total Ready-mix
2007 45.2
2008 48.5

2009 41.8
Total Asphalt
2007 14.8
2008 13.5
2009 11.0
*
Ready-mix concrete only
Million m
3
/t
15
Results 2009
© 2010 Holcim Ltd/Switzerland
Exchange rates
1
Weighted by net sales full year 2008
Statement of income
average exchange rates in CHF
2007 2008 2009 +/-
1 EUR 1.65 1.59 1.51 -5.0%
1 GBP 2.40 1.99 1.70 -14.6%
1 USD 1.20 1.08 1.09 0.9%
1 LATAM Basket (MXN, BRL, ARS, CLP)
1
1.11 1.00 0.86 -14.0%
1 Asian Basket (AUD, IDR, INR, THB, PHP)
1
1.15 1.00 0.92 -8.0%
Statement of financial position
exchange rates in CHF

31/12/07 31/12/08 31/12/09 +/-
1 EUR 1.66 1.49 1.49 0.0%
1 GBP 2.25 1.53 1.66 8.5%
1 USD 1.13 1.06 1.03 -2.8%
1 LATAM Basket (MXN, BRL, ARS, CLP)
1
1.33 1.00 1.09 9.0%
1 Asian Basket (AUD, IDR, INR, THB, PHP)
1
1.30 1.00 1.05 5.0%
16
Results 2009
© 2010 Holcim Ltd/Switzerland
Exchange rates – Translation gains/losses
in CHF +/- in CHF +/- in CHF +/-
Net sales 391 1.6% -2,749 -10.2% -1,710 -6.8%
Operating EBITDA 74 1.3% -593 -8.6% -394 -7.4%
Operating profit 47 1.1% -376 -7.5% -262 -7.8%
Net income - shareholders
of Holcim Ltd
16 0.8% -152 -3.9% -81 -4.6%
Cash flow from operating activities 53 1.2% -369 -6.9% -322 -8.6%
Total shareholders' equity -450 -2.4% -4,687 -21.4% 277 1.5%
Net financial debt -342 -2.7% -1,877 -14.6% 102 0.7%
2008 2009
Million CHF
2007
17
Results 2009
© 2010 Holcim Ltd/Switzerland

21,132
25,157
27,052
2007 2008 2009
Like-for-Like (LFL) 1,933 8.1% 1,157 4.3% -2,510 -10.0%
Change in structure 759 3.2% -303 -1.1% 195 0.8%
Forex movements 391 1.6% -2,749 -10.2% -1,710 -6.8%
Total change 3,083 12.9% -1,895 -7.0% -4,025 -16.0%
Net sales
Million CHF
18
Results 2009
© 2010 Holcim Ltd/Switzerland
Δ
2008/2009 LFL Change in
structure
Currency Total
Europe -21.6% 1.5% -7.0% -27.1%
North America -21.8% 0.1% -1.4% -23.1%
Latin America -1.7% -9.2% -8.8% -19.7%
Africa Middle East -3.8% -3.5% -3.6% -10.9%
Asia Pacific 6.4% 7.4% -8.7% 5.1%
Total -10.0% 0.8% -6.8% -16.0%
Net sales by region
3480
4527
5365
3348
4170
4010

1831
1354
1206
6418
6109
6292
Million CHF
2007
2008
2009
7320
10401
10043
19
Results 2009
© 2010 Holcim Ltd/Switzerland
North America
16.0%
Europe
33.6%
Asia Pacific
29.5%
Africa Middle East
5.5%
Latin America
15.4%
Net sales by region
Net sales 2009
20
Results 2009

© 2010 Holcim Ltd/Switzerland
4,630
5,333
6,930
21.9%
21.2%
25.6%
22.4%
2007 2008 2009
Operating EBITDA
Margin
Like-for-Like (LFL) 660 10.8% -703 -10.1% -270 -5.1%
Change in structure 110 1.8% -301 -4.3% -39 -0.7%
Forex movements 74 1.3% -593 -8.6% -394 -7.4%
Total change 844 13.9% -1,597 -23.0% -703 -13.2%
Million CHF
1
1
Margin on a like-for-like basis
21
Results 2009
© 2010 Holcim Ltd/Switzerland
Operating EBITDA by region
Δ
2008/2009 LFL Change in
structure
Currency Total
Europe -33.3% 0.0% -5.2% -38.5%
North America -15.6% 0.4% -2.5% -17.7%
Latin America 10.9% -11.0% -9.8% -9.9%

Africa Middle East 8.2% -3.0% -3.8% 1.4%
Asia Pacific 21.5% 6.2% -10.0% 17.7%
Total -5.1% -0.7% -7.4% -13.2%
400
999
486
1076
1194
1256
373368
653
1760
1495
1844
Million CHF
2007
2008
2009
1232
2003
2399
1
22
Results 2009
© 2010 Holcim Ltd/Switzerland
2,781
3,360
5,024
13.2%
13.4%

18.6%
13.8%
2007 2008 2009
Operating profit
Like-for-Like (LFL) 569 13.0% -977 -19.4% -245 -7.3%
Change in structure 23 0.5% -311 -6.2% -72 -2.1%
Forex movements 47 1.1% -376 -7.5% -262 -7.8%
Total change 639 14.6% -1,664 -33.1% -579 -17.2%
Margin
Million CHF
1
1
Margin on a like-for-like basis
23
Results 2009
© 2010 Holcim Ltd/Switzerland
Operating profit by region
879
966
1001
317
303
577
1301
1021
1341
Million CHF
40
5
623

2007
2008
2009
483
1713
1296
1
Δ
2008/2009 LFL Change in
structure
Currency Total
Europe -58.6% -1.4% -2.7% -62.7%
North America 880.0% 0.0% -180.0% 700.0%
Latin America 12.4% -11.7% -9.7% -9.0%
Africa Middle East 10.9% -2.6% -3.7% 4.6%
Asia Pacific 32.7% 5.8% -11.1% 27.4%
Total -7.3% -2.1% -7.8% -17.2%
24
Results 2009
© 2010 Holcim Ltd/Switzerland
Net income
4,545
2,226
1,958
3,865
1,782
1,471
2007 2008 2009
Net income
Net income - shareholders of Holcim Ltd

+83.7%
-17.5%
+67.2%
-12.0%
1
-53.9%
-51.0%
Million CHF
1
Includes a capital gain on the sale of a stake in Holcim South Africa of CHF 1,110 million and a special dividend of CHF 150 million, net