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Joining Efforts, Ensuring Results Intercement Annual Report 2011

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Joining Efforts, Ensuring Results Intercement Annual Report 2011 InterCement InterCement ANNUAL REPORT 2011 I ANNUAL REPORT REPORT I ANNUAL 2011 Result- Oriented Joining efforts, ensuring results InterCement Annual Report 2011 Joining efforts, InterCement believes in collective effort to achieve full operational efficiency. Integration of efforts is a commitment from all those who ensuring results are part of the company. The internal processes are guided by a team spirit with systemic management and adapted to the reality of the many countries where InterCement operates. Shareholders, employees, customers, and suppliers interact harmoniously, taking the company to consistent and sustainable results. 2 3 MESSAGE FROM STRENGTH OF SUSTAINABLE 14 THE CHAIRMAN 34 RELATIONSHIPS 52 ATTITUDE PROFILE RESULT- CULTURE OF DIVERSITY 06 16 ORIENTED 28 INNOVATION 42 THAT BUILDS 5 InterCement Annual Report 2011 Corporate profile Corporate profile InterCement Participações S. A.(InterCement) which will have a crushing capacity of Cofesur (Ferrosur/ Recycomb/ is a privately owned Brazilian company set up 880,000 metric tons per year. La Preferida de Olavarría for the purpose of controlling the business of 80.0% producing and distributing cement, concrete, As part of its international expansion, it is Cimpor and aggregates that belongs to the Camargo currently building an integrated factory of Baesa Maesa Estreito ˜ 33.0% Corrêa Group. Controlled by Camargo cement production in Paraguay under the Loma Negra 9.0% 6.35% 4.44% Cia S.A. Corrêa S.A., it holds 99.90% of InterCement name Yguazú Cementos, and another one, 94.53% Brasil and 94.53% of the Argentine cement also integrated, in Angola under the name Camargo InterCement InterCement company Loma Negra, and has strategic Palanca Cimento. Corrêa S.A. Participações S.A. Áustria holdings in other companies in Brazil and 100% abroad linked directly or indirectly to the InterCement stands for ethics and for sector. Also noteworthy are the shared respect in the development of its operations 99.9% 50.1% 35.0% 16.66% 100% control of Yguazú Cementos in Paraguay and relationship with its stakeholders, InterCement CC Yguazú Itacamba InterCement Brasil S.A. Escom BV Portugal and Palanca Cimentos in Angola, as well as values that it considers fundamental to the minority holdings in companies that generate sustainability of business. Its actions are electricity as self-producers. based on strict principles of sustainability aimed at creating value for the entire Also relevant is a majority stake in production chain and reducing the impact MISSION VALUES InterCement Austria Holding GmbH and of its activities on the environment. To operate in the value chain of the its subsidiaries, created in 2011 with the RESPECT FOR PEOPLE AND THE ENVIRONMENT cement industry in a sustainable way, objective of giving support to the trading Various social and environmental initiatives To always act fairly and properly towards its shareholders, employees, customers, suppliers, activities, and InterCement Portugal, set up undertaken with national and international with innovation and excellence in governments, communities and society as a whole. To act responsibly towards the environment. to monitor the growth of investment made organizations strengthen this commitment. management, committed to customers’ by Camargo Corrêa Group in Cimpor and Among them is the Global Compact led by needs and people’s fulfillment while to give support the investments in Angola. the United Nations (UN), of which it has been generating value for our shareholders RESPONSIBLE CONDUCT Also in Argentina, it owns the concession a signatory since 2010, and the Cement and respecting the environment and To comply with the established laws of the countries and regions where it operates; to assimilate of Ferrosur Roca, a railroad more than Sustainability Initiative (CSI), an arm of the the community. the values defined herein; to act with integrity and in accordance with the universal standards 3,000 kilometers long that is responsible cement segment on the WorldBusiness of good human relations without discrimination on account of race, sex, creed, religion, job, for transporting raw materials, finished Council for Sustainable Development position, or any other motive. products, and other goods. (WBCSD), of which it has been a member since 2008. Investments are continually VISION InterCement has one of the largest being made in new technologies to reduce To be one of the 20 largest cement TRANSPARENCY manufacturing facilities in Latin America with and mitigate emissions of greenhouse gases companies in the world, and one of the 5 To provide clear and ample information on its activities, accomplishments, policies, and performance in a systematic and accessible way. 16 cement production units, 27 concrete (GHGs). The company has ISO 9001, ISO most profitable and efficient. InterCement has 16 plants, and 3 aggregate mines. Its installed cement production units, 14001, and OHSAS 18001 certifications in 27 concrete plants, and capacity is 16 million metric tons of cement several units in Brazil and Argentina. FOCUS ON RESULTS a year. Loma Negra is the leader in the 3 aggregate mines. To always strive to maximize performance as a way of ensuring its permanence, its investments, Argentine market and has been in operation On December 31, 2011 the company had return for shareholders, and suitable conditions for its employees. for over 85 years. InterCement Brasil, 5,061 direct employees, of which 2,076 in founded in 1968, ranks third in the cement Brazil and 2,985 in Argentina, and a portfolio QUALITY AND INNOVATION segment through the brands Cauê and of over 5,000 active clients. Its net income for Cimento Brasil, and it is the fifth concrete the year totaled R$ 2.88 billion and net profit To ensure customers the highest possible quality in the execution of services and the supply of supplier in the country. Furthermore, a new was R$ 257 million. Cash flow, expressed by products and to invest continually in the improvement of its activities and that of its employees. plant is under construction in Cubatão, EBITDA, was R$ 695 million. 6 7 InterCement Annual Report 2011 Corporate profile CIMPOR the planning. The goal is to provide Cimpor with a stable shareholder structure and a Still aligned to the strategy to grow strong and effective growth strategy. consistently in Brazil and abroad, the parent company Camargo Corrêa S.A. acquired in The reorganization, once approved, will 2010 approximately 33% of the shares of result in the expansion and strengthening the Portuguese cement company Cimpor of this cement company, especially in that operates in 12 countries, including markets with a high growth potential. Brazil, where it holds 9% of market share. InterCement will support the human In March 2012, InterCement presented a resources policy based on the motivation public offering on the Portuguese Securities of Cimpor’s employees in line with the Market Commission (CMVM) in Lisbon to people management policy from the COMPETITIVE ADVANTAGES acquire the entire share capital of the cement Camargo Corrêa Group. In compliance company. Thus, the integration of the with the laws, the company will provide Has a consolidated position as the In Brazil it is a self-producer of Is strategically positioned in the cement and concrete assets and operations more information about the operation only third largest cement company in Brazil hydroelectric energy, which directly value chain with operations in the of Cimpor in South America and Angola is in after the preliminary analysis by CMVM. and Argentina’s leader with well-known impacts the cost savings and emissions relevant markets of concrete in Brazil brands in the market. of CO2. The total power of the plants and Argentina. Has two gravel quarries and investments owned by InterCement in São Paulo and one in the province of Owns the third largest industrial are as follows: Machadinho HPP (1,140 Buenos Aires, supplying the market and park in South America and one of the MW - 6.35%), Barra Grande HPP (690 ensuring the supply of this raw material Main Indicators most modern and efficient. MW - 9%), and Estreito HPP (1,087 MW for the proper operation of concrete. - 4.4%). With this InterCement became Var. % 2011/2010 Has programs in place for innovation 100% independent of third parties in Has teams prepared to execute and continuous improvement through a electric power generation, owning assets the projects of expansion and Gross income (R$ million) 1,946 2,660 3,036 3,132 3,584 14% replicable management model focused with an installed capacity of 170 MW. internationalization Net income (R$ million) 1,598 2,042 2,362 2,474 2,884 17% on operational excellence, which has provided solid, systematic, and above- In Argentina it has a railroad Has planned investments of over R$ EBITDA (R$ million) 400 420 641 616 695 13% market-average financial results. concession of 3,300 kilometers that 3 billion over the next years not including EBITDA Margin (%) 25% 21% 27% 25% 24% - connects its main plants to part of the mergers and acquisitions, which ensures Net profit attributable to controlling shareholders (R$ million) 211 186 538 225 257(2) 15% Has one of the lowest rates market, thereby increasing its logistic substantial growth in production volume worldwide of emission of greenhouse competitiveness. in the countries where it operates and new Investments (R$ million) 177 270 263 302 579 92% gases (GHGs) per metric ton of cement capacity in Paraguay and Angola. Sales of cement and by products (millions of tons) 8.8 10.2 10.1 11.5 12.7 10.0% on its production lines. Owns reserves of limestone with guaranteed extraction for several Is the largest individual shareholder Sales of concrete (millions of m3) 2.2 2.4 2.5 2.3 2.1 -9.1% Member of the Cement Sustainability decades and wide availability of raw of Cimpor, a company present in 12 Volume of aggregates (millions of tons) - - - 1.3 2.9 124.3% Initiative (CSI) and a signatory of the materials and other inputs.
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