6 - Vicat

Selected financial information3.1. Overview of the Group3Europe, North America, Asia, Africa and the MiddleEast, the Group has a diversified base which allows itto pursue an international development strategy, whilereducing its present and future exposure to economicfluctuations that may affect the markets in which itoperates.CementConcrete &AggregatesOther Products& ServicesFrance ▼ ▼ ▼United States ▼ ▼Switzerland ▼ ▼ ▼Turkey ▼ ▼Senegal ▼ ▼Egypt▼Italy▼Kazakhstan (construction in progress)▼Mali▼India (construction project)▼Mauritania ▼ ▼The weighting of Europe in general and France inparticular in the Group’s consolidated sales decreasedin 2009, while that of Africa and the MiddleEast increased. Sales in France represented 44.5 % ofconsolidated net sales in 2009.In 2009, EBITDA ratios on sales and consolidated netprofit on sales were 24.9 % and 12.3 % respectively.The Group’s financial structure is characterized bysignificant equity (2,082 million euros) and a lowlevel of net debt to equity (31.4 %), which gives theGroup a good flexibility and the means to to financeits growth.The Group intends to continue its development bycombining growth and profitability. Over the years, ithas demonstrated its ability to benefit from its strongregional positions, the quality of its production facilitiesand the expertise of its employees to achievehigh levels of profitability.The Group gives priority to two growth strategies :• organic growth, by significantly increasing its productioncapacity and by developing the means torespond to demand in the markets where it operates.In 2006, the Group committed to an industrialinvestment plan extending over several years,the “Performance 2010” plan, intended both to increaseits cement production capacity by 50 % bythe end of 2010, with the start up of one new kilneach year during this period in order to reduce itsproduction costs and to strengthen its competitiveposition. This “Performance 2010” plan was completedwith the opening of a new cement kiln inSenegal in October 2009. It has enabled the Groupto increase its cement sales in a difficult macroeconomiccontext.• the Group also intends to continue its selective externalgrowth policy through acquisitions or greenfieldplants that will enable it to take a position asa key player on new regional markets, or which willcomplement its existing production capacity orits range of products and services. As part of thispolicy, the Group is preparing to bring on streama new factory in Kazakhstan and has embarked onthe construction of a new cement plant in the Stateof Karnataka in India.To achieve its goals, the Group can rely on its industrialand commercial expertise in its core businessesand on the stability of its strategic model, backed byits shareholders and a family management presentin the Company since its foundation and having indepthexperience of these businesses.2009 registration document - VICAT 7