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(AOF) – Sococim Industries (Vicat Group) entrusts Urbasolar with the construction of a 7 MWp solar power plant to supply its Rufisque cement plant in Senegal . Built on 14 hectares, this state-of-the-art facility will integrate many innovations: control of energy production, control center allowing real-time optimization of the electricity consumption of the plant. This investment, an industrial first in Africa, is part of a global approach to reduce the carbon footprint of the factories of the Vicat group.
Senegal has made the energy sector, and the reduction of the carbon footprint, one of the priority objectives of the Emerging Senegal Plan (PSE), the country's new public policy framework for 2035.
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The points high in value
– Thirtieth global cement manufacturer, also present in concrete and aggregates (33% of sales of 2.3 billion at the end of 2016) and services (14%);
– Reserves geological data corresponding to 100 years of production and production capacity of 30 million tonnes;
– Strong identity around two pillars: the tradition of shareholder-entrepreneur making fruitful industrial heritage with a management "in good father" , on the one hand, the continuous family control on the other hand
– Rebalancing of production assets in growth areas (Turkey, India and Kazakhstan: 23% of sales), Africa and the Middle East (14%), ahead of France ( 32%), the rest of Europe (17%) and the United States (14%)
– Strong position in India (1/4 production capacity and 2nd world market after China); [19659003] – Positive impact of the Swiss franc's rise (more than 20% of Swiss operating profit)
– One of the most efficient production tools for using cheaper energies than its competitors;
– Very Moderate Debt Level.
Weaknesses in the Value
– Sensitivity to Weather Conditions, Cement Use Rates by Industry and Government Orders
– Negative exchange rate impact on the accounts, especially Kazakh ford and the Egyptian pound;
– Exposure to geopolitical risks in West Africa, Egypt, Tunisia, Kazakhstan and Russia, Egypt and Turkey weighing on 2017 sales
– Disappointing half-year results;
– Disappointing half-year results;
– Weakness of the yield (dividend unchanged since 2007) and expensive value, sanctioned to the least disappointment.
How to monitor the value
– Cyclical value dependent on the construction sector, energy costs and exchange rates;
– In the short term, no external growth, the group focusing on the rise of new capacity, the generation of free cash flow and the decline in
– Evolution of sales in Turkey and Egypt, handicapped by the devaluation at the end of 2016
– Non-speculative value, the founding family (in 1817) holding 60.5% of the shares and 74% of the shares voting rights and mastering successions in the presidency
French cement manufacturers are poorly prepared for the energy transition according to the international organization CDP (formerly Carbon disclosure project). Indeed, they have difficulties renewing their fuels and their production processes, which represents a risk in a strengthened regulatory framework. With 6% of global emissions in the production phase, these players represent the second largest industrial emitter of greenhouse gases behind metallurgy. However, the sector has managed to reduce its CO2 emissions by only 1% per year over the last four years. This is insufficient to achieve the goal of a warming maintained under both degrees, according to the international organization. It considers that these efforts should be doubled to remain within the framework of the Paris Agreement on Climate.
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