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€ Q1 2025 Hugues Chomel Deputy CEO & Group CFO Pierre Pedrosa Head of Investor Relations 30 April 2025
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30 April 2025 • This presentation may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets ; • These statements are by their nature subject to risks and uncertainties as described in the Company’s annual report available on its website (www.vicat.com). These statements do not reflect the future performance of the Company, which may differ significantly. The Company does not undertake to provide updates of these statements ; • In this presentation, and unless indicated otherwise, all changes are based on 2025 figures by comparison with the same period of 2024, and are at constant scope and exchange rates ; • Further information about Vicat is available from its website (www.vicat.com). DisclaimerDisclaimer 2
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3 -0.2% Despite slowdown in India & Africa Stable Organic activity in France Recovery in Switzerland Like for Like Sales growth Low Single Digit EBITDA growth (%) Public consultation underway Q1 2025 TRADING UPDATE Q1 2025 Highlights
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Significant FX headwinds in Turkey, Egypt and Brazil Q1 2025 TRADING UPDATE 4 -0.2% Stable organic sales Significant FX headwinds (€ million) % of Sales reported Q1 2025 Q1 2024 Δ reported Δ LFL* France 32% 281 270 +3.9% -0.1% Europe 11% 95 92 +2.8% +6.5% Americas 25% 221 222 -0.5% +0.8% Asia 11% 95 120 -20.5% -18.8% Mediterranean 12% 103 104 -1.6% +22.6% Africa 10% 91 101 -9.9% -10.1% Total 100% 886 911 -2.7% -0.2% *Constant scope and exchange rates
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Q1 sales bridge: resilient organic sales, unfavorable FX effect Q1 2025 TRADING UPDATE Million, EUR *Constant scope and exchange rates 886 911 -35 33 909 -30 7 Q1 2024 Volume Price Q1 2025 (LFL*) FX Scope Q1 2025 5
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Slowing decline in residential market with encouraging trends in Concrete & Aggregates France Q1 2025 TRADING UPDATE *Constant scope and exchange rates Stable cement prices Limited contribution of Lyon-Turin railway project 6 FRANCE 281 Sales (EUR m) +3.9% -0.1% lfl* Q1 25 Construction site, Jardin des Balmes Lyon Integration of Cermix, strengthening VPI construction chemicals business in France
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1.2mt CO2 p.a. Capture Capacity Assemblée Générale –11 avril 2025 Capture Pipeline transportation Liquefaction Sea transportation Storage Montalieu cement plant CAPEX OPEX CCS Activated clay VAIA : A major CCS project in the Rhône corridor Q1 2025 TRADING UPDATE 7
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Europe Reuchenette cement plan, VIgier *Constant scope and exchange rates Cement volumes up for a 2nd consecutive quarter Major infrastructure projects should support 2025 business Growing sales in Q1 on rebounding volumes and stable prices Unfavorable base effect for Vigier Rail (precast business) 8 Q1 2025 TRADING UPDATE SWITZERLAND ITALY 95 Sales (EUR m) +2.8% +6.5% lfl* Q1 25
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Americas Q1 2025 TRADING UPDATE Ciplan cement plant, Brazil *Constant scope and exchange rates Cement business was mixed with volume decline in California offset by growth in the Sout-East Resilient pricing environment Rebound in volumes with stable prices Competition remains stiff in Center- West region 9 USA BRAZIL 221 Sales (EUR m) -0.5 % +0.8% lfl* Q1 25
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A local-for-local player in USA Q1 2025 TRADING UPDATE 10 Ragland Tennessee GeorgiaAlabama South Carolina cement plant railway terminal Atlanta metropolis Nashville Lebec California Los Angeles LOCAL RESSOURCES LOCAL MARKETS LOCAL PRODUCER *clinker or cement materials
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Asia *Constant scope and exchange rates Jambyl Cement plant, Kazakstan Lower sales due to intensification of competitive environment in Southern States and unfavorable base effect Volume growth in Maharashtra with increased rail capacity at the end of 2024 to serve Mumbai market Price increase to pass through higher fuel costs Volumes slightly up driven by Almaty region and exports to Kyrgyzstan 11 Q1 2025 TRADING UPDATE INDIA KAZAKSTAN 95 Sales (EUR m) -20.5% -18.8% lfl* Q1 25
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Mediterranean FY 23 Al Arish port, Sinaî *Constant scope and exchange rates Drop in volumes due to unfavorable weather conditions in February and political context Prices increase to offset production costs inflation Good momentum on export markets, with higher volumes and prices Domestic prices also evolve favorably 12 Q1 2025 TRADING UPDATE TURKEY EGYPT 103 Sales (EUR m) -1.6% +22.6% lfl* Q1 25
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Africa *Constant scope and exchange rates Resilient domestic volumes & lower exports Deterioration in domestic prices with the arrival of a new player on the market Lower sales due to decrease in volumes and prices Sharp slowdown in Aggregate volumes with delays in public infrastructure projects 13 Q1 2025 TRADING UPDATE SENEGAL MALI & MAURITANIA Sococim worker, Rufisque, Senegal 91 Sales (EUR m) -9.9% -10.1% lfl* Q1 25
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Senegal: upcoming commissioning Substitute clinker imports with locally produced clinker Improve industrial performance and cost base by replacing production from kiln 3 & 4 Reduce CO2 emissions 1 2 3 2.0mt CLINKER CAPACITY COMMISSIONING IN Q2 2025 EBITDA CONTRIBUTION EXPECTED TO BEGIN IN H2 2025 €260M CAPEX Q1 2025 TRADING UPDATE 14 Kiln 6 Senegal, April 2025 18% ROCE TARGET
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d 2025 guidance confirmed SALES CAPEX net EBITDA CAPITAL ALLOCATION Q1 2025 TRADING UPDATE 15
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Group priorities 16 1 2 3 (1.58x at end 2024) Q1 2025 TRADING UPDATE
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Q&A Q1 2025 TRADING UPDATE
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Calendar & information Contact www.vicat.com 4 Rue Aristide Berges Les Trois Vallons 38080 Isle-d’Abeau FRANCE Pierre Pedrosa, Head of Investor Relations relations.investisseurs@vicat.fr Tel :+33 6 73 25 98 06 18 Q1 2025 TRADING UPDATE