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2009 Annual Results March 11, 2009 Disclaimer

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2009 Annual Results March 11, 2009 Disclaimer 2009 Annual Results March 11, 2009 Disclaimer This presentation does not constitute either an offer of securities for sale or a solicitation to offer securities. Information contained in this presentation may include forecasts and express objectives based on current assessments and estimates of CFAO management. They are consequently subject to a large number of factors, risks and uncertainties, which may result in reported figures and assessments differing significantly from the presented ones. In particular, certain risk factors may result in reported figures which may differ significantly from the given objectives. CFAO does not commit to update and/or revise and/or comment the forecast information which may be given in this presentation or its impact on the results and perspectives of the Group. The information contained in this presentation have not been independently verified and no representation or commitment is given as to the accuracy, sincerity, precision or completeness of such information. None of the Group directors or officers shall bear any liability for any loss arising from any use of this presentation or its contents. InnowayCFAO shllhall assume responsibility for any ittinvestment or other diidecisions made bdbased upon the ifinforma tion provided in this presentation. Readers are advised to review the public documents of the company and in particular the press release and consolidated accounts published on March 11, 2010, before taking any investment or other decision in connection with CFAO or its securities. CFAO Résultats annuels 2009 CFAO: an unrivalled business model Richard BIELLE, Chairman of the Management Board Very strong foothold in Africa and FOTs 75% of revenue 25% of revenue New French French Antilles Caledonia Polynesia Vietnam French Guiana Mauritius CFAO present in 31 out of 52 countries France (export) French-speaking Sub-Saharan Africa 5% 41% English- and Portuguese-speaking Sub-Saharan Africa 14% 2009 re v. €2,582m Maghreb French Overseas Territories (FOTs), 19% MiidViMauritius and Vietnam 21% CFAO 2009 Results 4 An unrivalled business model A diversified portfolio with leading positions in four businesses Importer and Importer and Beverages in Congo Information, network distribu tor of distribu tor of (JV w ith Heineken) and comm u nications vehicles pharmaceutical solutions products Light industries Elevators andltd escalators Office automation 56% 29% 11% 4% of 2009 revenue of 2009 revenue of 2009 revenue of 2009 revenue ● 2009 revenue: €2,582m ● 9,500 employees CFAO 2009 Results 5 An unrivalled business model Successful long-term partnerships with major worldwide ggproups 39 years 18 years 7 years > 45 years > 50 years 34 years 15 years 11 years 49 years 9 years CFAO 2009 Results 6 An unrivalled business model Positioning of each business at every stage of the value chain TditilTraditional approach CFAO approac h Supplier Supplier ● A single service provider between the supplier Intermediary 1 and the end customer : Increase efficiency Intermediary 2 Capture the full margin Intermediary N... Customer Customer CFAO 2009 Results 7 An unrivalled business model Diversified country, business, partner and currency ppgrofile to mitigate risk GEOGRAPHIES BUSINESSES 31 African countries, CFAO Automotive: high-potential, cyclical business 7 FOTs Eurapharma: steady growth Mauritius and Vietnam CFAO Industries: creation of local Algeria represents 13% of revenue value added The 10 largest geographies represent CFAO Tec hnol ogi es: manpower 65% of revenue & services PARTNERS CURRENCIES > 20 automotive suppliers Purchases: 30% JPY, 28% USD and 42% EUR > 450 laboratories 3 key industrial partners Sales: 63% of revenue in EUR or currencies linked to the EUR > 10 major partnerships for CFAO ThTechno log ies CFAO 2009 Results 8 An unrivalled business model Strong momentum to expand geographical reach New Long-standing leadership Recent expansion markets English- and French-speaking FOTs North Africa Portuguese-speaking Vietnam Sub-Saharan Africa Sub-Saharan Africa ~ 40% ~ 19% ~ 10% ~ 10% Start-up market share market share market share market share ~ 40% ~ 50% ~ 7% (3) ~ 10% market share market share market share market share Leader (1) ~ 50% market share (2) (1) OthbOn the brewery mar ktithCket in the Congo (2) Market share on the IT solutions market in Cameroon and Côte d’Ivoire (3) Market share for imported products in Algeria CFAO 2009 Results 9 An unrivalled business model Multiple growth drivers CFAO in medium term 3 + Possible acquisitions of new businesses 2 New markets (start-up) 1 CFAO Expanding share in today recent markets Market growth Organic growth + bolt-on acquisitions CFAO 2009 Results 10 An unrivalled business model CFAO in 2009 Richard BIELLE, Chairman of the Management Board Several unfavorable trends in 2009 ● Late arrival of economic crisis in Africa, with impacts mainly felt in S2-2009 ● Unppprecedented slump in the automotive sector, CFAO’s biggest market, following a period of vigorous growth ● Steep rise in the JPY, CFAO Automotive main purchasing currency ● Sharp devaluations of numerous local sales currencies (English-speaking Africa and Algeria) ● Adverse trends in the regulatory environment in Algeria, the Group’s most important country in revenue terms CFAO 2009 Results 12 CFAO in 2009 2009 highlights ● Reduction in inventories: €775m at end-2008 €616m atdt end-2009 ● Launch of cost-cutting measures to stem the upward trend iittdtin committed costs ● Streamlining of CFAO Industries & Trading portfolio: SlSale o fDILMltf DIL Maltex, c losure o f an assem bly p lan tiBt in Bur kina-FdititiFaso, discontinuation of trading in France and partial withdrawal from trading in Nigeria (December 2009) ● IPO on December 3, 2009 ● New €300m syndicated credit facility ● Reorganization of the company as a stand-alone business CFAO 2009 Results 13 CFAO in 2009 Multi-country and multi-business strategy helped CFAO withstand the crisis in 2009 2009 revenue trends (like-for-like (*)) Automotive Eurapharma Industries Technologies CFAO French-speaking Sub- -6.9% 9.0% 13.6% -2.9% Saharan Africa -0.1% English-speaking Sub- -6.1% 37.0% 12.0% 12.4% Saharan Africa 2.0% FOTs, Mauritius -6.1% 1.3% - - & Vietnam -1.9% Maghreb -15.6% 50.9% -18.4% 17.8% -11.1% France (export) -39.0% 1.0% -30.6% -12.9% -25.6% CFAO -11.1% 8.2% 6.0% 0.8% -4.0% 3 out of 4 divisions delivered growth in 2009 Revenues remained stable in Sub-Saharan Africa despite CFAO Automotive performance FOTs held up well Significant downturn in Maghreb despite strong advances of Eurapharma (*) Comparable structure and exchange rate basis CFAO 2009 Results 14 CFAO in 2009 Performance in line with 2009 targets ● 2009 revenue: €2,582m ● EBIT (1): €216.6m ● FOCF (2): €139m 28642,864 (3) In € millions 2,535 2,582 2,219 2,034 1,859 1,718 1,620 14771,477 1,247 1,049 9.8% 9.7% (3) 84%8.4 % 9.0% 9.1% 9.1% 9.2% 9.2% 8.4% 8.2% 8.2% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Sales ROI as % of revenue before PPR management fees (1) Recurring Operating Income before PPR management fees (3) Before application of amendment to IAS16 (2) Free operating cash flow CFAO 2009 Results 15 CFAO in 2009 2009 business review Richard BIELLE, Chairman of the Management Board Jean-Yves MAZON, Chairman of Eurapharma, Member of the Management Board CFAO Automotive Widespread downturn in market for new vehicles in 2009, with B2B markets in Sub-Saharan Africa harder hit New vehicle volumes (estimated markets) French-speaking Sub-Saharan Africa English-speaking Sub-Saharan Africa Mostly B2B Mostly B2B 50 000 +18% -13% 120 000 +28% 40 000 100 000 -35% 80 000 30 000 60 000 20 000 40 000 10 000 20 000 0 0 2006 2007 2008 2009 2006 2007 2008 2009 Algeria & Morocco FOTs & Mauritius Mostly B2C Mostly B2C 500 000 60 000 +2% ~ -13% +21% -6% 400 000 50 000 300 000 40 000 30 000 200 000 20 000 100 000 10 000 0 0 2006 2007 2008 2009 2006 2007 2008 2009 Source: CFAO CFAO 2009 Results 17 CFAO Automotive CFAO Automotive New vehicle volumes fell 22% in 2009 Performance mixed depending on each region Estimated CFAO new vehicle Change market volumes (in units) 2008 2009 09/08 share 2009 trends French-speaking Sub- Positions 17,588 15,938 -9.4% ~_ 47% Saharan Africa cemented English-speaking Sub- 15,848 9,783 -38.3% ~_ 13% Stable Saharan Africa Algeria and Morocco 44,768 34,097 -23.5% ~_ 10% Downturn Positions FOTs, Ma uriti u s (excl. Almameto) 7, 410 6, 808 -81%8.1% ~_ 14% cemented Vietnam 16 102 n/a n.a. In line with plan TtlTotal 85, 630 66, 728 -22. 0% CFAO 2009 Results 18 CFAO Automotive CFAO Automotive Our three largggest vehicle markets at a glance Algeria Morocco Sharp downturn in market after a nearly two- Pick-ups and trucks represent 70% of CFAO fold increase in 2006-2008, and significant fall Automotive’s Moroccan business in the Algerian dinar as from early 2009 Market shed around 25% in 2009, squeezed by Market held up well in H1 thanks to massive the crisis and tighter lending conditions inventory run-downs, with European brands gaining ground (EUR sourcing) Priority focus on running down inventories for all brands Contraction in market in H2, owing to regulatory measures aimed at curbing imports (new taxes, payment by letters of credit and discontinuation of consumer credit) Nigeria Streamlining in progress at CFAO Automotive; development of product mix (launch of pick-ups Severe downturn in market in H2 and trucks) Banking crisis triggering a credit crisis Measures taken by public authorities triggered Very high inventory levels for all operators a fall in imports in 2009 and weakened competition CFAO 2009 Results 19 CFAO Automotive CFAO Automotive Revenue affected across all regions in 2009 Revenue (€m) Change 2008 2009 (reported) ● French-speaking Africa: business French-speaking Sub- held up well (market leader), 593.5 555.2 -6.5% Saharan Africa and successfullyyp passed on the rise in the JPY; CFA franc remained stable English-speaking Sub- 261.5 215.5 -17.6% ● English-speaking Africa: decline Saharan Africa in revenue less dramatic than drop Algeria and Morocco 492.
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