Grupo Villar Mir Corporate Presentation November 2016 Espacio Activos Financieros 1 2016 11 24 Presentación GVM Nov 16 (English-EUR)
Agenda 1. General Overview of Grupo Villar 2. Grupo Villar Mir International Activities 3. The R&D&i activities in Grupo Villar Mir 4. Description of the Main Activites 2
1. General Overview of Grupo Villar Mir 3
Grupo Villar Mir Grupo Villar Mir is one of the largest privately owned Spanish industrial groups, with a very important international presence and a diversified portfolio of activities. Positioned 18 th “Actualidad Económica” Turnover Ranking in 2015 among all Spanish companies. The largest and most significant subsidiary of Grupo Villar Mir is Obrascón Huarte Lain (OHL) , one of the biggest construction and concessions corporations in the world, in which the Group is voluntarily limited to own 50.1 % of the shares . . . . . . and the Group also has an important presence in several other industrial sectors and countries, besides OHL. This presentation is about Grupo Villar Mir as a whole, not only Obrascón Huarte Lain (OHL) 4
Group Highlights FAMILY-OWNED : 100% owned by its founder (Mr. Juan-Miguel Villar Mir) and his three sons. Founded in 1987. INDEPENDENT : No shares are held by any other institution, either financial or of any other nature. INDUSTRIAL : • Basic industrial sectors, construction, concessions, real estate and services. • Long-term action criteria. No sales of companies. DIVERSIFIED DECENTRALIZED : • No Group constraints: each company is fully responsible for its Balance Sheet and Income Statement. • The Group is designed as the sum of individual companies with their own entity and great autonomy. Very reduced corporate structure. INTERNATIONAL : Production presence in 38 countries on 5 continents. Ongoing activities in R&D&i . 5
Group Structure Grupo VILLAR MIR ESPACIO INFORMATION TECHNOLOGY 57% 100% 51.96% 100% 100% GRUPO Espacio PACADAR 99.8% Promociones y Propiedades OHL VM Energía FERTIBERIA 100% FERROGLOBE Inmobiliarias Espacio, Activos Financieros MOTHERCARE 100% IBÉRICA 100% Developement Grupo Ferroatlántica 100% 100% Adubos de OHL Concesiones subsidiaries 100% Portugal Enérgya VM 99,8% Ferroatlantica 56.9% OHL Mexico Hidro Nitro Comercial subsidiaries 35% 6.9% Centro Canalejas Abertis 80% 65% Ferroven 100% Madrid Quimica del Estroncio 100% 100% FerroPEM OHL Construcción 100% Silicon Smelters 100% SamQuarz OHL Servicios 100% Ferroatlántica, I+D 100% 100% 66% OHL Industrial 7.9% Inmobiliaria Colonial FERTIAL FerroSolar 100% Cuarzos Industriales 100% OHL Desarrollos 67% RAMSA 100% Globe Specialty Metals 100% Globe Metallurgical 100% Globe Metals 100% Alden Resources 100% Core 100% Silicium Quebec 100% Silicon Technology ELECTROMETALLURGY ENERGY FERTILIZERS AND REAL ESTATE CONCESSIONS AND OTHER FINANCIAL ASSETS DIVISION DIVISION DIVISION BASIC CHEMISTRY DIVISION DIVISION CONSTRUCTION DIVISIONAL structure, with full autonomy and no group constrains 6
OHL vs. Rest of Grupo Villar Mir (Dec 31 st 2015) NET INCOME SALES EBITDA Rest of Rest of Rest of GVM GVM GVM 10% 16% 40% 60% 84% 90% EUR 7,254M EUR 1,120M EUR 60M EMPLOYEES FIXED ASSETS Rest of Rest of GVM GVM 23% 23% 77% 77% 33,617 employees EUR 13,327M OHL has represented approximately 60% of Grupo Villar Mir in terms of sales, 84% in EBITDA and 90% of the net profit until December 31 st 2015 7
Group History July 1987 - Acquisition of Inmobiliaria Espacio, S.A. and Obrascón S.A. to Altos Hornos de Vizcaya (AHV), S.A. July 1991 - IPO of Obrascón, S.A. in the Madrid Stock Exchange December 1992 - Acquisition of Ferroatlántica, S.L. to Carburos Metálicos, S.A. (Air Products) March 1995 - Acquisition of Fesa/Fertiberia to Ercros/Freeport Mc Moran January 1996 - Acquisition of Cuarzos industriales, S.A. to Cimpor (Portugal) - Take-over Bid for 100% capital of Hidro Nitro Española, S.A. May 1996 - Acquisition of Elsan, S.A. to private investors December 1996 - Take-over Bid for 100% of Sefanitro, S.A. January 1997 - Acquisition of Sato, S.A . to private investors June 1998 - Acquisition of Huarte and take-over by Obrascón ( Obrascón Huarte, S.A. ) LONG TERM VISION July 1998 - Acquisition of Pacadar, S.A. to private investors December 1998 - Acquisition of 80% of Ferroven, S.A . to the State of Venezuela through a Public Auction. May 1999 - Take-over of Lain, S.A. by Obrascón Huarte S.A. ( OHL, S.A. ) July 2000 - Acquisition of 67% of Rocas, Arcillas y Minerales, S.A. ( RAMSA ) to the ELKEM Group (Norway) May 2005 - Acquisition of 100% of Pechiney Électrométallurgie to ALCAN, (Canada) August 2005 - Acquisition of 66% of Fertial, Spa (ammonia y fertilizers of Algeria) from the State of Algeria December 2006 - Majority shareholding reached in OHL Group December 2007 - Start of operation of Torre Espacio Castellana January 2008 - Acquisition of Rand Carbide PLC (Ferrosilicium factory), in the Rep. of South Africa - Acquisition of 100% of Adubos de Portugal April 2009 - Incorporation of Ferrosolar - Adquisition of 100% of Céntrica, S.L. (today Energya VM) November 2010 - Acquisition of Sinice Silicon Industries (Silicon Metal factory), in the Rep of China (Yunnan) July 2012 - Acquisition of Sam Quarz (quartz mine in South Africa) - Acquisition of 15% of Abertis December 2012 - Acquisition of 7 buildings in Madrid "Canalejas Madrid Centro" March 2013 - Acquisition of 4% of Abertis August 2013 - Beginning previous work " Canalejas Madrid Centro " January 2014 - Adquisition of 24.5% of Inmobiliaria Colonial December 2015 - Merger of Grupo Ferroatlántica & Globe Specialty Metals 8
Mr. Juan-Miguel Villar Mir FOUNDER (1987), PRESIDENT, CHAIRMAN and OWNER of Grupo Villar Mir Doctorate in Civil Engineering; Graduate in Law; Diploma in Industrial Management; Degree from the Economic Development Institute (Washington, D.C.). Vice-President of the Spanish Government and Minister of the Treasury Department during the first Government of the King Juan Carlos I (1976). Former Executive Chairman at several companies (Hidro-Nitro, Carbonífera del Sur, Altos Hornos de Vizcaya, Altos Hornos del Mediterráneo, Empresa Nacional de Celulosas, Electra de Viesgo y Puerto Sotogrande). Former Head Professor of Business Organization at the Madrid Polytechnic University (Civil Engineering School). Member of French “Légion d’Honneur” . Permanent Member of the Royal Academy of Engineering. Permanent Member of the Royal Academy of Social and Political Sciences. Honorary Member of the Royal Academy of Doctors. Former Chairman and Honor Member of the Spanish National Association of Civil Engineers. Honor Member of the Spanish Engineering Institute. Author of numerous educational books, papers and conferences. First Marquis of Villar Mir “for his distinguished and extensive services career to Spain and its Crown” . (February 2011). 9
Group Principles INTEGRITY, HONESTY and ETHICS Responsible loyalty towards: in all aspects of the business. • clients, • employees, Satisfaction through: • the community, and • working passionately, • shareholders. • with vocation for leadership, • with capacity to refloat and Commitment to: consolidate companies under • quality, financial difficulties, • safety, • with spirit to surpass expectations and continuous • the environment and improvement, • best practices in corporate • with long-term criteria, governance. • encouraging individual initiatives, • Maximum self-financing and profitability with maximum delegation, and • • as an objective, and rewards granted according to results. • as a means to achieve: – financial strength policy – with ambitious investments. 10
Main Figures 2015 (EUR M) Concessions GRUPO Villar Mir Fertilizers Real Estate Ferroglobe and VILLAR MIR Energía Division Division Construction Consolidated EUR M 15-14 EUR M 15-14 EUR M 15-14 EUR M 15-14 EUR M 15-14 EUR M 15-14 TURNOVER 1,186.2 711.4 980.7 114.2 4,368.9 7,254.5 +7.5% +15% (6.6%) +52% +17% +12% EBITDA 96.8 9.2 44.9 (7.7) 967.0 1,119.8 (36%) (17%) (63%) n.d. (10%) (17%) EBIT 36.4 8.6 2.8 14.8 684.8 753.2 (61%) (18%) (96%) +76% +12% (4.0%) EBT (7.7) 23.7 (4.4) 49.3 434.0 462.5 n.d. +112% n.d. (39%) +6.1% (20%) NET INCOME (39.0) 17.4 (3.0) 53.2 55.6 83.2 n.d. +125% n.d. (33%) +140% (14%) (1) (1) (1) (2) (2) (2) CASH FLOW 7.7 18.0 34.3 31.5 540.8 624.9 (90%) +117% (63%) (62%) (17%) (26%) NET attributable INCOME (39.0) 17.4 (3.0) 53.2 32.7 60.2 n.d. +125% n.d. (33%) +141% (31%) (1) Before OHL minority interests. (2) After minority interests at Fertial. 11
Sales and EBITDA breakdown by activity 2015 SALES EBITDA Real Estate VM Energía Fertilizers Real Estate Fertilizers Enginering & 1% 1% 4% -1% 14% Ferroglobe Construction 8% 12% Developements 1% VM Energía 8% Enginering & Construction 53% Ferroglobe 16% Developements 2% Concessions Concessions 6% 73% Total = EUR 7,254M Total = EUR 1,120M Source: Grupo Villar Mir. Note: Sales breakdown excludes intergroup sales. 12
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