CEMEX, S.A.B. de C.V., Ciments Francais SA, Holcim Ltd. and Lafarge S.A.

TABLE OF CONTENTS
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market Outlook 11
Market value forecast 11
Five Forces Analysis 12
Summary 12
Buyer power 13
Supplier power 14
New entrants 15
Threat of substitutes 16
Degree of rivalry 17
Leading Companies 18
CEMEX, S.A.B. de C.V. 18
Ciments Francais SA 21
Holcim Ltd. 24
Lafarge S.A. 27
Macroeconomic Indicators 30
Country Data 30
Appendix 32
Methodology 32
Industry associations 33
Related research 33

LIST OF TABLES
Table 1: Spain construction materials market value: $ million, 2008–12 8
Table 2: Spain construction materials market category segmentation: $ million, 2012 9
Table 3: Spain construction materials market geography segmentation: $ million, 2012 10
Table 4: Spain construction materials market value forecast: $ million, 2012–17 11
Table 5: CEMEX, S.A.B. de C.V.: key facts 18
Table 6: CEMEX, S.A.B. de C.V.: key financials ($) 19
Table 7: CEMEX, S.A.B. de C.V.: key financials (MXN) 19
Table 8: CEMEX, S.A.B. de C.V.: key financial ratios 19
Table 9: Ciments Francais SA: key facts 21
Table 10: Ciments Francais SA: key financials ($) 22
Table 11: Ciments Francais SA: key financials (€) 22
Table 12: Ciments Francais SA: key financial ratios 22
Table 13: Holcim Ltd.: key facts 24
Table 14: Holcim Ltd.: key financials ($) 24
Table 15: Holcim Ltd.: key financials (CHF) 25
Table 16: Holcim Ltd.: key financial ratios 25
Table 17: Lafarge S.A.: key facts 27
Table 18: Lafarge S.A.: key financials ($) 28
Table 19: Lafarge S.A.: key financials (€) 28
Table 20: Lafarge S.A.: key financial ratios 28
Table 21: Spain size of population (million), 2008–12 30
Table 22: Spain gdp (constant 2000 prices, $ billion), 2008–12 30
Table 23: Spain gdp (current prices, $ billion), 2008–12 30
Table 24: Spain inflation, 2008–12 31
Table 25: Spain consumer price index (absolute), 2008–12 31
Table 26: Spain exchange rate, 2008–12 31

LIST OF FIGURES
Figure 1: Spain construction materials market value: $ million, 2008–12 8
Figure 2: Spain construction materials market category segmentation: % share, by value, 2012 9
Figure 3: Spain construction materials market geography segmentation: % share, by value, 2012 10
Figure 4: Spain construction materials market value forecast: $ million, 2012–17 11
Figure 5: Forces driving competition in the construction materials market in Spain, 2012 12
Figure 6: Drivers of buyer power in the construction materials market in Spain, 2012 13
Figure 7: Drivers of supplier power in the construction materials market in Spain, 2012 14
Figure 8: Factors influencing the likelihood of new entrants in the construction materials market in Spain, 2012 15
Figure 9: Factors influencing the threat of substitutes in the construction materials market in Spain, 2012 16
Figure 10: Drivers of degree of rivalry in the construction materials market in Spain, 2012 17
Figure 11: CEMEX, S.A.B. de C.V.: revenues & profitability 20
Figure 12: CEMEX, S.A.B. de C.V.: assets & liabilities 20
Figure 13: Ciments Francais SA: revenues & profitability 23
Figure 14: Ciments Francais SA: assets & liabilities 23
Figure 15: Holcim Ltd.: revenues & profitability 25
Figure 16: Holcim Ltd.: assets & liabilities 26
Figure 17: Lafarge S.A.: revenues & profitability 29
Figure 18: Lafarge S.A.: assets & liabilities 29