holcim strength performance passion third quarter results 2009 and outlook

© 2009 Holcim Ltd/Switzerland
Third quarter results 2009 and outlook
© Herzog & de Meuron
1
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
First positive signals from world economy
y In mature markets, construction industry remained tough
 Some market stabilization in Western and Central Europe
 Unchanged difficult situation in Eastern Europe and Russia
 Significant impulses not yet visible in North America
y
Growing construction industry in many emerging markets
 More or less stable development in Latin America
 Africa Middle East is holding up well
 Asia growing with China and India as drivers
2
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Quick reactions supported Holcim‘s results
y Shut down of approx. 10 million tonnes of cement
capacity
y More than 100 plant closures in the aggregates segment
and in ready-mix concrete
y Fixed costs have already been reduced by CHF 573
million
y High cash liquidity of CHF 5.7 billion
y Financing of CHF 7 billion significantly lengthened the
average term of liabilities
y Strategic capacity expansion program was pursued
y Acquisition in Australia strengthens the Group

3
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Higher cost efficiency in Europe
y Lower sales volumes in all segments
y Difficult situation in Spain, the UK, Italy and
Eastern Europe
y Construction level held up well in Switzerland
y Capacity reduction and large-scale cost-cutting
measures had a positive impact on results
y Demand decline slowed in the third quarter
4
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Better third quarter in North America
y The recession in the construction market heavily affected
Holcim US
y Two cement plants were shut down and two others
mothballed; shut downs also in all other segments
y Cost savings partially offset the decline in volumes and
prices
y New cement plant Ste. Genevieve exemplary from an
ecological and efficiency standpoint
5
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Organic growth in Latin America
y Declining sales volumes mainly due to deconsolidation
in Venezuela and in the Caribbean
y In Mexico and Central America, the proximity to the US

negatively impacted demand
y Cost reductions, lower energy costs and stable prices
strengthened results
y Better results in Ecuador, Brazil and Argentina
6
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Holcim held up well in Africa Middle East
y Good capacity utilization in Morocco and the Lebanon
y Declining cement deliveries in the Indian Ocean
y Due to the deconsolidation in Egypt, sales volumes
decreased
y Majority had better operating results
7
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Significant improvement of results in Asia Pacific
y Increasing cement sales primarily in India, Vietnam and
the Philippines
y Effective cost control and lower purchase prices for
energy led to better margins despite currency losses
y Solid results also in the third quarter
y Excellent start of integration process at Holcim Australia;
Group company fully consolidated since the fourth quarter
8
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Key financial figures
2008 2008 2009
LFL CIS FX Total

Net sales 25,157 19,340 15,774 -10.3% -0.7% -7.4% -18.4%
Operating EBITDA 5,333 4,365 3,614 -7.3% -2.1% -7.8% -17.2%
Operating profit 3,360 3,087 2,337 -13.6% -3.0% -7.7% -24.3%
Net income 2,226 2,107 1,577 -16.5% -2.1% -6.6% -25.2%
Cash flow from
operating activities
3,703 1,658 2,192 47.2% -1.4% -13.6% 32.2%
6.27
6.99
2
EPS in CHF
1
Million CHF
9M +/-12M
6.10 4.10 -32.8%
1
Calculated on the weighted average number of shares outstanding retrospectively restated in accordance with IAS 33
2
Net of plant closure costs
9
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Key financial figures - third quarter
2008 2009
LFL CIS FX Total
Net sales 6,906 5,692 -8.9% -1.2% -7.5% -17.6%
Operating EBITDA 1,563 1,471 5.5% -2.5% -8.9% -5.9%
Operating profit 1,123 1,031 4.0% -2.9% -9.3% -8.2%
Net income 769 790 13.7% -2.5% -8.5% 2.7%
Cash flow from

operating activities
994 1,387 53.3% -1.9% -11.9% 39.5%
Op. EBITDA
margin
Million CHF
Q3 +/-
22.6% 25.8% 3.2pp
10
3. Quartal 2009
© 2009 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
+/– Various smaller companies
11
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Exchange rates
Statement of income
average exchange rates in CHF
9M 07 9M 08 9M 09 +/-
1 EUR 1.64 1.61 1.51 -6.2%
1 GBP 2.42 2.05 1.71 -16.6%
1 USD 1.22 1.06 1.11 4.7%
1 LATAM Basket (MXN, BRL, ARS, CLP)
1
1.08 1.00 0.84 -16.0%

1 Asian Basket (AUD, IDR, INR, THB, PHP)
1
1.14 1.00 0.91 -10.0%
Statement of financial position
exchange rates in CHF
30/09/08 31/12/08 30/09/09 +/-
1 EUR 1.58 1.49 1.51 1.3%
1 GBP 1.98 1.53 1.66 8.5%
1 USD 1.10 1.06 1.03 -2.8%
1 LATAM Basket (MXN, BRL, ARS, CLP)
2
1.25 1.00 1.06 6.0%
1 Asian Basket (AUD, IDR, INR, THB, PHP)
2
1.08 1.00 1.02 2.0%
1
Weighted by net sales 9M 2008
2
Weighted by net sales full year 2008
12
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Cement - Sales volumes by region
Δ
9M 08/9M 09 LFL Change in
structure
Total
Europe -21.0% 0.8% -20.2%
North America -25.9% 0.0% -25.9%
Latin America -7.3% -9.7% -17.0%

Africa Middle East 0.0% -5.7% -5.7%
Asia Pacific 0.8% 0.8% 1.6%
Total -7.3% -1.6% -8.9%
8.3
11.2
12.4
20.9
26.226.1
49.9
49.1
48.5
6.6
7.0
11.2
17.1
19.8
20.6
Total Group
9M 2007 112.8
9M 2008 108.8
9M 2009 99.1
Million t
13
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Aggregates - Sales volumes by region
Δ
9M 08/9M 09 LFL Change in
structure
Total

Europe -22.8% 3.2% -19.6%
North America -22.0% 0.8% -21.2%
Latin America -4.0% -7.0% -11.0%
Africa Middle East -5.0% 0.0% -5.0%
Asia Pacific -14.3% 2.9% -11.4%
Total -20.6% 1.7% -18.9%
29.7
37.7
43.0
59.6
74.1
76.4
3.1
3.5
3.0
1.92.0
5.2
8.9
9.4
10.0
Total Group
9M 2007 137.0
9M 2008 127.3
9M 2009 103.2
Million t
14
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Ready-mix concrete and asphalt - Sales volumes
10.3

8.1
33.6
37.0
30.4
10.5
9M 2007 9M 2008 9M 2009
-21.4%
+10.1%
Ready-mix concrete in million m
3
Asphalt in million t
-17.8%
+2.4%
-1.9%
-5.4%
15
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
15,774
19,340
20,286
9M 2007 9M 2008 9M 2009
Net sales
Like-for-Like (LFL) 1,511 8.6% 1,340 6.6% -2,000 -10.3%
Change in structure 892 5.1% -348 -1.7% -134 -0.7%
Forex movements 369 2.1% -1,938 -9.6% -1,432 -7.4%
Total change 2,772 15.8% -946 -4.7% -3,566 -18.4%
Million CHF
16
3. Quartal 2009

© 2009 Holcim Ltd/Switzerland
Net sales by region
Δ
9M 08/9M 09 LFL Change in
structure
Currency Total
Europe -22.1% 1.8% -8.2% -28.5%
North America -22.6% 0.2% 0.3% -22.1%
Latin America -1.4% -8.7% -10.0% -20.1%
Africa Middle East -0.3% -4.0% -3.1% -7.4%
Asia Pacific 7.6% 0.6% -9.5% -1.3%
Total -10.3% -0.7% -7.4% -18.4%
2626
3373
4016
2527
3163
2961
5664
7773
7927
1466
990
917
4538
4599
4678
9M 2007
9M 2008
9M 2009

Million CHF
17
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
North America
16.2%
Europe
34.8%
Asia Pacific
27.9%
Africa Middle East
5.6%
Latin America
15.5%
Net sales by region
Net sales 9M 2009
18
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
3,614
4,365
5,340
22.9%
22.6%
26.3%
23.3%
9M 2007 9M 2008 9M 2009
Operating EBITDA
Margin
Like-for-Like (LFL) 586 13.1% -276 -5.2% -317 -7.3%

Change in structure 185 4.1% -253 -4.7% -93 -2.1%
Forex movements 80 1.8% -446 -8.4% -341 -7.8%
Total change 851 19.0% -975 -18.3% -751 -17.2%
Million CHF
1
Margin on a like-for-like basis
1
19
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Operating EBITDA by region
Δ
9M 08/9M 09 LFL Change in
structure
Currency Total
Europe -33.5% -0.2% -6.0% -39.7%
North America -25.7% 0.5% -0.9% -26.1%
Latin America 8.9% -10.0% -10.4% -11.5%
Africa Middle East -2.0% -4.2% -2.9% -9.1%
Asia Pacific 25.7% 0.5% -11.3% 14.9%
Total -7.3% -2.1% -7.8% -17.2%
328
771
444
818
924
932
1035
1835
1715

279307
535
1306
1137
1402
Million CHF
9M 2007
9M 2008
9M 2009
20
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
1
Like-for-like millions CHF
Positive EBITDA growth in the third quarter 2009
Variance in operating EBITDA
1
Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09
Europe 10 27 -75 -216 -294 -206 -74
North America -31 -85 -155 -191 -38 -76 0
Latin America 18 63 23 -29 15 25 42
Africa Middle East 26 22 11 -14 -13 10 -3
Asia Pacific -17 -48 -39 -10 72 104 116
Corporate 2 -16 -12 33 -7 5 5
Total Group 8 -37 -247 -427 -265 -138 86
21
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
3,961
3,087

2,337
19.5%
16.0%
14.8%
15.4%
9M 2007 9M 2008 9M 2009
Operating profit
Like-for-Like (LFL) 528 16.1% -313 -7.9% -421 -13.6%
Change in structure 100 3.0% -250 -6.3% -92 -3.0%
Forex movements 52 1.6% -311 -7.9% -237 -7.7%
Total change 680 20.7% -874 -22.1% -750 -24.3%
Margin
Million CHF
1
Margin on a like-for-like basis
1
22
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Operating profit by region
672
752752
535
1227
1345
237264
481
994
807
1035

Δ
9M 08/9M 09 LFL Change in
structure
Currency Total
Europe -51.8% -1.2% -3.4% -56.4%
North America -60.4% 0.0% -4.8% -65.2%
Latin America 9.8% -10.2% -10.2% -10.6%
Africa Middle East -3.4% -3.8% -3.0% -10.2%
Asia Pacific 35.1% 0.5% -12.4% 23.2%
Total -13.6% -3.0% -7.7% -24.3%
Million CHF
72
207
492
9M 2007
9M 2008
9M 2009
23
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
Net income
1,577
2,107
3,857
1,200
1,739
3,300
9M 2007 9M 2008 9M 2009
Net income
Net income - equity holders of Holcim Ltd

-31.0%
-25.2%
1
+119.3%
+97.8%
Million CHF
1
Including 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
-45.4%
-47.3%
24
3. Quartal 2009
© 2009 Holcim Ltd/Switzerland
3,260
1,658
2,192
16.1%
8.6%
13.9%
9M 2007 9M 2008 9M 2009
Cash flow from operating activities
Like-for-Like (LFL) 807 34.3% -1,389 -42.6% 783 47.2%
Change in structure 46 2.0% -74 -2.3% -24 -1.4%
Forex movements 59 2.5% -139 -4.2% -225 -13.6%
Total change 912 38.8% -1,602 -49.1% 534 32.2%
Million CHF
Margin