Annual Report 2010 Holcim Ltd

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Value-Driven Corporate Management Status as at March 2, 2011 Photo: The Executive Committee from left to right: Urs Böhlen Benoît-H. Koch Theophil H. Schlatter Thomas Aebischer Markus Akermann Paul Hugentobler Patrick Dolberg Roland Köhler Ian Thackwray Andreas Leu Board of Directors Rolf Soiron Chairman, Chairman of the Governance, Nomination & Compensation Committee Andreas von Planta Deputy Chairman Markus Akermann Christine Binswanger Beat Hess Erich Hunziker Peter Küpfer Chairman of the Audit Committee Adrian Loader Thomas Schmidheiny Wolfgang Schürer Dieter Spälti Robert F. Spoerry Secretary of the Board of Directors Peter Doerr Executive Committee Markus Akermann Chief Executive Officer Thomas Aebischer As of January 1, 2011 member of the Executive Committee; effective April 1, 2011 Chief Financial Officer Urs Böhlen Eastern & Southeastern Europe, CIS/Caspian region Patrick Dolberg Belgium, France, Netherlands, Germany, Switzerland, Italy Paul Hugentobler South Asia & ASEAN excl. Philippines Benoît-H. Koch North America, UK, Norway, Mediterranean incl. Iberian Peninsula, International Trade Roland Köhler CEO Holcim Group Support Ltd Andreas Leu Latin America Theophil H. Schlatter Chief Financial Officer until March 31, 2011 Ian Thackwray East Asia incl. China, Philippines, Oceania and South & East Africa Area Management Javier de Benito Urs Fankhauser Aidan Lynam Bernard Terver Corporate Functional Managers Jacques Bourgon Stefan Wolfensberger Auditors Ernst & Young Ltd Management Structure See organizational chart on page 31 Changes See also Corporate Governance page 87 ff.
At the 2010 ordinary general meeting, H. Onno Ruding, who has been a member of the Board of Directors since 2004, retired from the Board on having reached the age limit. The Board of Directors would like to thank him for his valuable service. Beat Hess was newly elected to the Board of Directors. An attorney and doctor of law, until the end of 2010, he was Group Legal Director and member of the Executive Committee of Royal Dutch Shell Group, The Hague. The Board of Directors appointed Roland Köhler, Corporate Functional Manager and responsible for Corporate Strategy & Risk Management, member of the Executive Committee effective March 15, 2010. He heads the central service and support functions of Holcim Group Support Ltd (HGRS) as CEO. At the end of March 2010, Bill Bolsover stepped down as Area Manager and Corporate Functional Manager for age reasons. Bernard Terver, CEO of Holcim US and Aggregate Industries US, was appointed Area Manager and member of the senior management of Holcim Ltd, effective April 1, 2010. He is responsible at Group level for Holcim US and Aggregate Industries US. Bernard Terver reports directly to Executive Committee member Benoît-H. Koch. On July 1, 2010, Ian Thackwray, member of the Executive Committee since the beginning of 2010, succeeded Tom Clough following his retirement at the end of June 2010. Ian Thackwray is responsible for the companies in East Asia, including China, the Philippines and Oceania, and South and East Africa. As part of the succession planning process, Thomas Aebischer, CFO of Holcim US, was appointed to the Executive Committee, effective January 1, 2011. On April 1, 2011, he will assume responsibility as Group CFO from Theophil H. Schlatter, who is retiring at the end of March 2011. Andreas Leu, Area Manager and member of the senior management of Holcim Ltd, joined the Executive Committee on January 1, 2011. He has taken over responsibility for Latin America from Thomas Knöpfel, who retired at the end of 2010. With effect on January 1, 2011, Urs Fankhauser, Regional Technical Director Eastern Europe, was appointed Area Manager and member of the senior management of Holcim Ltd. In this function, he is responsible for the markets in Eastern and Southeastern Europe. He reports directly to Executive Committee member Urs Böhlen. Line and functional management responsibility The key to the Group’s success lies in the competence of our local management teams. The operating units in around 70 countries fall under the line responsibility of individual Executive Committee members, assisted by Area Managers and Corporate Functional Managers. If our Group companies are to strengthen their cost and market leadership in their markets, they need entrepreneurial room for maneuver as well as support from the Group in the form of specific know-how and predefined parameters. We are convinced that success in our business depends on striking a balance between local power and autonomy on the one hand, and the right degree of support and intervention from Group headquarters on the other. A coherent program of basic and continuing management training, as well as systematic succession planning to develop candidates with executive potential at both national company and corporate levels, are factors which will strengthen the Group on a lasting basis. 28 29 Organization and Management
Page 1: Annual Report 2010 Holcim Ltd Biodi
Page 5 and 6: Holcim is one of the world’s lead
Page 7 and 8: Contents Annual Review 2010 6 Share
Page 9 and 10: El Puente, Spain: The gravel pit, i
Page 11 and 12: Consolidated key figures for cement
Page 13 and 14: Solid financing Net income decrease
Page 15 and 16: Proposal for a payout corresponding
Page 17 and 18: The Holcim Think Tank sits atop the
Page 19 and 20: Biodiversity is about more than jus
Page 21 and 22: Key success factors Thanks to the g
Page 23 and 24: Solid anchorage of the Holcim cultu
Page 25 and 26: Approved cement capacity expansion
Page 27 and 28: Value chain Supply Demand Cementiti
Page 29: Organization and management The Gro
Page 33 and 34: Organizational chart Board of Direc
Page 35 and 36: ORC technology (Organic Rankine Cyc
Page 37 and 38: Minetti has trained 2,500 employees
Page 39 and 40: widespread market uncertainties, ex
Page 41 and 42: Disclosure of shareholdings Under A
Page 43 and 44: Holcim places an absolute priority
Page 45 and 46: Holcim attaches great importance to
Page 47 and 48: Human resources Fit for the future
Page 49 and 50: Group employees by segments 2010 20
Page 51 and 52: Information board to indicate certa
Page 53 and 54: Of the endangered species Mediterra
Page 55 and 56: Mixed market development in Europe
Page 57 and 58: Georgia and Turkey, cement deliveri
Page 59 and 60: Queen Anne’s Lace is a Ladybug’
Page 61 and 62: Employees are actively participatin
Page 63 and 64: Some stimuli in North America Still
Page 65 and 66: alternative energy sources it uses
Page 67 and 68: Red-legged Seriema. This bird speci
Page 69 and 70: The nursery of native trees from No
Page 71 and 72: Latin American construction sector
Page 73 and 74: The Group company in Ecuador also h
Page 75 and 76: The M’Goun Geopark has a unique l
Page 77 and 78: In Holcim Morocco, sustainable deve
Page 79 and 80: Stable demand for building material
Page 81 and 82:
The Social Development and Manageme
Page 83 and 84:
The tree nursery at the Lugait plan
Page 85 and 86:
Building activity solid in Asia Pac
Page 87 and 88:
tonnes of cement. The new location
Page 89 and 90:
Corporate governance Holcim applies
Page 91 and 92:
Board of Directors The Board of Dir
Page 93 and 94:
Since 2002, the following expert co
Page 95 and 96:
mation on all issues relating to th
Page 97 and 98:
Area Management The individual memb
Page 99 and 100:
Million CHF 2010 2009 Audit service
Page 101 and 102:
Beat Hess, Swiss national, born in
Page 103 and 104:
Dieter Spälti, Swiss national, bor
Page 105 and 106:
Benoît-H. Koch, French and Brazili
Page 107 and 108:
Corporate Functional Managers Jacqu
Page 109 and 110:
Compensation policy Board of Direct
Page 111 and 112:
ization contribution in the total a
Page 113 and 114:
Variable compensation Other compens
Page 115 and 116:
Number of shares and options held b
Page 117 and 118:
Movements in the number of share op
Page 119 and 120:
Financial Information 2010 Holcim L
Page 121 and 122:
Operating results Sales volumes and
Page 123 and 124:
lion was experienced. In Europe, ne
Page 125 and 126:
Group net income In the fourth quar
Page 127 and 128:
Major investment and divestment pro
Page 129 and 130:
Maturity profile of total financial
Page 131 and 132:
Consolidated statement of income of
Page 133 and 134:
Consolidated statement of financial
Page 135 and 136:
Available-for-sale reserve Cash flo
Page 137 and 138:
Accounting policies Basis of prepar
Page 139 and 140:
The Group’s interest in jointly c
Page 141 and 142:
Property, plant and equipment Prope
Page 143 and 144:
Upon issuance of convertible bonds,
Page 145 and 146:
Revenue recognition Revenue is reco
Page 147 and 148:
Contractual maturity analysis Milli
Page 149 and 150:
Despite a decrease in net income, t
Page 151 and 152:
Fair value estimation The fair valu
Page 153 and 154:
Notes to the consolidated financial
Page 155 and 156:
2 Foreign currencies The following
Page 157 and 158:
Africa Middle East Asia Pacific Cor
Page 159 and 160:
Aggregates Other construction mater
Page 161 and 162:
7 Production cost of goods sold Mil
Page 163 and 164:
14 Income taxes Million CHF 2010 20
Page 165 and 166:
18 Accounts receivable Million CHF
Page 167 and 168:
22 Long-term financial assets Milli
Page 169 and 170:
25 Intangible assets Goodwill Other
Page 171 and 172:
Sensitivity to changes in assumptio
Page 173 and 174:
Details of total financial liabilit
Page 175 and 176:
Bonds and private placements as at
Page 177 and 178:
30 Leases Future minimum lease paym
Page 179 and 180:
32 Deferred taxes Deferred tax by t
Page 181 and 182:
33 Provisions Site restoration and
Page 183 and 184:
Retirement benefit plans Defined be
Page 185 and 186:
Experience adjustments Defined bene
Page 187 and 188:
Share options outstanding at the en
Page 189 and 190:
38 Contingencies, guarantees and co
Page 191 and 192:
Cash flow from acquisitions and dis
Page 193 and 194:
Variable Compensation Other compens
Page 195 and 196:
Shares and options owned by members
Page 197 and 198:
Other transactions As part of the e
Page 199 and 200:
Region Company Place Nominal share
Page 201:
To the General Meeting of Holcim Lt
Page 204 and 205:
Financial Information Cement Aggreg
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Financial Information Statement of
Page 212 and 213:
Financial Information Change in sha
Page 214 and 215:
Financial Information Issued bonds
Page 217:
To the General Meeting of Holcim Lt
Page 220:
Cautionary statement regarding forw
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Annual Report 2010 Holcim Ltd

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