2015 Annual Report of COEMAC

DIRECTORIO DE EMPRESAS Y MARCASAnnual Report 2015

DIRECTORIO DE EMPRESAS Y MARCASContinuous ceilings Pladur ® FON+

Annual Report 2015

Main indicators 2015

To our shareholders

The Coemac Group

Summary of 2015 business year

Organs of governance

Committed to the stakeholders

Financial calendar 2016 and contact details

Contents4

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45

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1 Main Indicators 2015

2015 was a turning point for the group after the disinvestment of the Tile business and the loss

of control of the Insulation business.

Sales recovered their positive trend and grew7.4% with regard to 2014.

Sales(In million euros) 7.4%

Annual growth

5.6%Growth in Spain

13.1%International

growth

EBITDA(In million euros)

2014 2015

127%increase

in EBITDA

3.7

8.4

25% of the 129.7 million Euros invoiced comesfrom international markets.

Distribution of sales by region (In million euros)

• Spain • Europe • Africa

• America • Middle East and others

97.6

23.1

2.0 4.1

3.0

The EBITDA reached 8.4 million Euros, 127 % more than in 2014.

10

8

6

4

2

0

28.4 32.1

92.4 97.6

TOTAL120.8

TOTAL129.7

2014 2015

• Spain

• International markets

100

75

50

25

0

4

5

77.7

The growth in sales and the achievement of a positive EBITDA has been reached in all business lines, something which had not happened since 2010.

Distribution of sales by business line*(In million euros)

73.180

60

40

20

0

50.5 54.6

2014 2015

EBITDA by business line* (In million euros)

8.1

10.611

9

6

3

00.0

1.5

The loss of control of the Insulation business allowed Coemac to dissolve almost all financial debt.

Net financial debt(In million euros)

363.5million reduction

in net financial debt

In the context of the divestments, the net result attributed to Coemac was penalized by the atypical effects of provisions and restructuring

(-53.9 million Euros) and by discontinued activities (-4.5 million Euros). Despite this, the losses were reduced by 36% with regard to the previous year.

36%reduction of losses

Attributable net result(In million euros)

• Gypsum • Pipes and fittings

2014 2015

• Gypsum • Pipes and fittings

2014 2015

400

300

200

100

0

365

1.52014 2015

100

0

-100

-118 -76

* Does not include corporate and adjustments * Does not include corporate and adjustments

International presence of Coemac in 2015

2 To our shareholders

Letter from the Chairman

Highlights 2015

Share performance

81011

TO OUR SHAREHOLDERS

2 Letter from the chairman

Dear shareholders,

I am writing to you for the first time as the Chairman of the Coemac Group to give you the background on a financial year which has been a very important turning point point for our Group both in quantitative and qualitative terms.

Beginning with this final aspect, in 2015, the Coemac Group abandoned the hundred-year-old corporate denomination of Uralita, thus leaving behind a brand, a product and a series of connotations which evoked the past rather than the future of the Group. Each one of our businesses has been operating in the market with its own brands and thus they are well-known to our customers, suppliers and other operators in the sector. Pladur®, Algiss® and Adequa® are commercial ensigns of sufficient weight and fame and do not need to be sent to market under the umbrella of another brand which only makes reference to the parent company.

Under this premise and bearing in mind the important changes in the perimeter and size of the Group carried out in 2015, we considered that the moment had arrived to propose to the shareholder an idea long discussed at the heart of the organisation: to have a simple and descriptive

denomination in the parent company of the Group so that the brands of our products were our identification in each of the business lines. The shareholders agreed and backed the idea at last year’s General Meeting.

Together with the change of denomination, the 2015 financial year was marked by insulation materials leaving our portfolio of business. As has been publicly explained on a number of occasions, the weak evolution in European markets and, fundamentally, the devaluation of the Russian Rouble and the consequent fall in the market, meant that URSA® lost profitability thus preventing us from attending to the commitments made in 2013 to the new financiers of the Group. This circumstance obliged us to restructure the URSA® debt, by giving 90% of the insulation business to the creditors as well as the leadership in the management in exchange for the cancellation of the totality of the financial debt that URSA® was bearing and the amount of which exceeded 340 million Euros.

All of this has led us to place the focus of the Coemac Group on the Iberian business of plasterboard, powdered plaster and PVC pipes and fittings. This has meant a significant reduction both in the volume of assets and in the consolidated turnover, but it gives us good prospects for the future thanks to the disappearance of the financial debt, the reorganisation and rationalisation of the business carried out in previous years as well as the good behaviour of the domestic markets and the impulse of export activity.

These factors have meant that in 2015, both the gypsum business and the piping business, have given a positive EBITDA to the Group, a fact which had not occurred since 2010. The behaviour of the markets throughout the financial year and the even better performance of our business in terms of growth in sales and profitability will allow us to lay the foundations for the development of the Group.

Annual Report 2015 8

9TO OUR SHAREHOLDERS

We face a future which is full of challenges but which is at the same time hopeful. The prospects of growth and development of our markets are encouraging and we must be capable of taking advantage of these circumstances so as to, from our position as leaders, beat those prospects and go beyond the forecasts.

In this scenario of changes and redefinition of the perimeter of Coemac, we have thought it appropriate to carry out a series of restructurings which will enable us to face the future without burdens or conditioning factors. In this way, our exit from the insulating materials market will lead us to establish a level of equity which is suitable to the current size of the Group, whose assets and turnover have been clearly affected by everything that happened in 2015.

The professional team that we have has shown its commitment and capacity for many years and thanks to all of them, we have been able to navigate our way through the worst financial and market circumstances that our country has known in recent history. I am convinced that all this effort has not been in vain and that we have drawn valuable lessons from so many years of sacrifice.

This is the moment to begin to return to our people and to our shareholders part of the value that has been lost along the way over the last few years. That is the objective that the entire professional team that I am proud to lead is aiming for.

Javier González Ochoa Executive Chairman of Coemac Group

Coemac headquarters, Madrid (Spain)

TO OUR SHAREHOLDERS

Hightlights 2015


15/01/2015

Sale of the Tiles business

Sale of the totality of the tile business to

our minority shareholder Brass Monier

31/03/2015

Results of the first quarter

Group sales 32.9 M€ (+4% interannual)

Group EBITDA 1.9 M€ (+147% interannual)

13/05/2015

Restructuring of the financial debt of the insulation business

Restructuring agreement of the financial debt of the

insulation business. The financial creditors, led by KKR, acquired

control of the business while Coemac maintained a holding

of 10%. The operation was carried out on 17th September 2015

20/05/2015

Appointment of the new Executive Chairman

The Board of Directors of the Group appointed Javier González Ochoa, until then the General Counsel, as the new Executive Chairman

22/06/2015

General Meeting of Shareholders

Among other decisions, the restructuring of the debt from the insulation business and the change of denomination of the parent company of the

Group were ratified

30/06/2015

Results of the first half-year

Group sales: 68.1 M€ (+10%)

Group EBITDA: 3.7 M€ (+87%)

July 2015

Strategic Plan 2016-2018

Updating of the Group’s strategic plan to the

new business perimeter (gypsum and pipes

and fittings)

7/09/2015

Change of the corporate denomination of Coemac

The parent company of the Group is now called Corporación

Empresarial de Materiales de Construcción, S.A., (Coemac) and

the ticker becomes CMC

30/09/2015

Results of the third quarter

Group sales: 100.2 M€ (+10%)


31/12/2015

Coemac achieves the objectives established

in its strategic plan

Group sales: 129.7 M€ (+7%)


(*) The quarterly results do not include the discontinued activities of Insulation and Tiles

TO OUR SHAREHOLDERS Annual Report 2015 11

Share performance

Evolution of the share

The Coemac Group is listed in the Spanish continuous market of Madrid and Valencia stock exchanges.

During the 2015 financial year, the price of the share underwent a drop of 10.5% in comparison with a 7.2% contraction in the Ibex 35, the Spanish reference index, in the same period. At the close of the financial year, on 31st December 2015, the price of the share was at 0.34 Euros. The average volume negotiated was around 300,000 shares daily.

The Coemac stock exchange capitalisation was located at 67.1 million Euros at the close of the financial year.

31/12/2014 31/03/2015 30/06/2014 30/09/2015 31/12/2015

222

200

180

160

140

120

100

80

60

Price evolution

• COEMAC • IBEX 35

Main stock exchange indicators

Total number of shares 197,499,807

Daily average dealing in securities (total) 300,044

Daily average dealing (in thousands of Euros) 183.7

Dealing days 256

Minimum price (15/12/2015) 0.26

Maximum price (31/3/2015) 0.83

Price at close (31/12/2015) 0.34

Stock market capitalisation on 31st

December (in millions of Euros)67.1

Main shareholders

Name or corporate denomination of the

shareholderNumber of

direct shares% of the

corporate capital

Pool de Activos, S.L.U. (Grupo Nefinsa) 156,145,950 79.061

Treasury shares

On 31st December 2015, the treasury shares of the parent company was 10,114,216 shares, which is equivalent to 5.12% of the corporate capital.

Coemac does not have remuneration schemes linked to share options.

Pladur ®. 3M Innovation Centre (Madrid)

3 The Coemac Group

Introduction to the Coemac Group

The gypsum business

The pipes and fittings business

141822

THE COEMAC GROUP

Coemac at a glance

Who are we?

Founded initially in 1907 as a manufacturer of boards for roofs and water conduits, Coemac has over the last few years become an international construction materials group currently dedicated to the business of gypsum and pipes and fittings.

Nowadays, Coemac has a substantial industrial presence on the Iberian peninsula as well as a significant presence in international markets due to its growing export activity. The Group has a powerful business culture, a clear focus on innovation and is very well positioned to grow profitably in the period of market recovery that we are now in.

The Group in 2015

• 130 million Euros in sales • 539 employees • 8 production centres • Presence in over 40 countries


Introduction to the Coemac Group

1907 Foundation Inauguration of the Group's first factory

1920 - 1950 First products Fibre-cements, roofs, pipes

1950 - 1970 New materials Plastics

1970 - 2000 Diversification

Plasterboards Pladur®

Concrete and ceramic tiles

Insulation materials (Poliglás)

2002 - 2007 Profitable growth

Entry of Nefinsa and purchase of the insulation business of Pfleiderer (2002)

Strong growth in construction in Europe

2008 - 2014 Global financial crisis and fall in construction in Europe

Simplification and internationalisation

Divestment of businesses/ Restructuring of debt

2015 Coemac

Return to growth without financial debt

Change of corporate name (Coemac)

Distribution of sales by business line

Pipes and fittings 41%

Gypsum 59%

Distribution of sales by region

on 31st December 2015

• Spain • Europe

• Africa • America

• Middle East and other

97.6

23.1

2.04.13.0

THE COEMAC GROUP

What do we do?

Plasterboard and drywall systems (Pladur®)• Over 35 years’ experience • Leader in the Iberian market and a significant international

presence • Future industrial centre in Gelsa (Zaragoza)

Plaster and casting plaster (Algiss®) • Over 20 years’ experience• Operational excellence and ongoing innovation of the product • Innovative installations

Pipes and fittings (Adequa®)• Over 100 years leading in sustainable water management • Experts in systems for the collection and distribution of water • Suitable solutions and personalised service and attention


Corporate strategy

Environment and opportunities

The construction materials industry is highly influenced by economic cycles, environmental factors and globalisation. The demands of this environment are the driving force behind the ongoing development of highly competitive products and services, which are capable of passing through frontiers to take growth opportunities in new markets. Likewise, the concern for environmental aspects in a context of lack of natural resources involves growth in the use of clean technologies. Energy efficiency and sustainable solutions are becoming more important in markets.

We understand that this context generates opportunities for companies devoted to the market of materials and services for construction among which we might mention:

• The opportunity of the neighbouring markets and emerging countries for the export of products which improve their competitive position and favour their development in construction.

• The growing demand for environmentally-sustainable solutions which enable Coemac to differentiate itself and increase its catalogue of products and services in fields such as energy efficiency.

• The benefits of innovation which at Coemac makes it possible to develop differential solutions for customers with the aim of incorporating the best materials and technologies currently available.

• The opportunity presented by information and communications technologies (ICT) to improve relations with our customers and commercial partners and to develop more efficient processes.

Construction, in Coemac’s main markets, is just beginning its recovery process and it is still far from what is considered to be a normal level of activity which makes it possible to take advantage of the full capacity of the Group’s industrial plants. This available capacity represents an important advantage for the organic growth once demand is back to normal, which will allow us to generate important incomes.

Coemac continues to attend to the evolution of market trends and is making an ongoing effort to adapt so as to respond to the challenges and opportunities which are available in the short, medium and long term.

Strategy

Coemac’s strategy is based on three pillars:

1. Differential products and services. After completing the process commercial model repositioning, the Group now has a catalogue of differential products and services supported by a modern and efficient industrial structure. Innovation is an essential component of Coemac’s corporate culture and is a permanent commitment. The numerous human, material and economic resources which are devoted to this purpose make it possible to permanently offer to the market unique and innovative products which give significant added value to customers and to other parties involved in the process of construction (advisers, distributors, builders and installers).

Informe Anual 2015 16 THE COEMAC GROUP Annual Report 2015 16

2. International diversification. Over the last few years, and coinciding with the great deterioration in the construction market in Spain, the Group has developed a clear international vocation based on the professionalism and the specialisation of its industrial and logistical operations in each market. Currently the Group sells in over forty countries around the world accounting for 25% of its turnover.

3. Operational excellence. Coemac is very aware that its competitive environment requires maximum efficiency of operations as the way to guarantee maximum value and satisfaction to customers and suppliers. For this purpose, it uses ICTs which are present in all Group processes from the reception of orders to the logistics of the warehouses as well as in all internal management systems.

In order to generate sustainable competitive advantages in relation with each of the critical factors for the business success of Coemac, it is key to be able to position ourselves favourably in the different businesses, as each one of them shows different strengths.

Objective 2016 Objective 2018 Advances at the end of 2015

Sales Approx. 145 M Euros Approx. 180 M Euros 130 M Euros

EBITDA Approx 13M Euros Approx. 20 M Euros 8.4 M Euros

Coemac’s visionWhat we want to be

The company of reference for our products to customers, suppliers, employees and shareholders

Mission - Growth and profitability What we want to achieve

Strategy How we are going to achieve it

Differential products and

services

International diversification

Operational excellence

People and leadership

ValuesThe basis of our work

Corporate spirit

Continuous improvement and

enhancement

Transparency

Orientation to results

Openness to change

Respect for people

Goals: Strategic plan 2016-2018

THE COEMAC GROUP 17

Annual Report 2015 18 THE COEMAC GROUP

General description of the business

What we do

Coemac’s gypsum business manufactures and sells construction materials and solutions for internal partitions in the building sector, whether residential or non-residential. The business is divided into two differentiated lines: plasterboard systems (Pladur®) and powdered gypsum (Algiss®). The current activity takes place basically in Spain, Portugal and France but it also involves other export markets in Africa, Central America and the Middle East.

Dry partition walls consist of the building of party walls and wall cladding with plasterboard screwed to a metallic structure which gives them the necessary consistency. Generally, this kind of solution does not require additional finishing as it is incorporated in the plasterboard itself. Pladur® manufactures, promotes and supplies construction systems made up mainly of different types of boards, profiles and compounds. The business has an industrial centre in Valdemoro (Madrid) where it manufactures plasterboards, profiles and compounds and which also houses the central offices of the business.

Traditional masonry partition walls consist of the construction of internal walls in bricks or concrete blocks, in the finishing of which it is normal to use a coat of powdered gypsum (render) which, among other functions, will beautify the final result. Algiss® activity is centred on the business of powdered gypsum and plaster.

The wide range of products and services runs from traditional manual gypsum to high quality and profitable innovative products such as the projected gypsum and finishing gypsum or the systems of silos or fillers for restoration and refurbishment. The business has four manufacturing centres located in Beuda (Gerona), Mañeru (Navarre), Martos (Jaen) and Valdemoro (Madrid).

Committed to sustainability and innovation

The Yesos Ibéricos business maintains a strong commitment to sustainable development and starts from the conviction that business decisions must contribute to the development of the environment. For this reason, both at Pladur® and at Algiss® we work to maximise the comfort of the customer and safety for the environment and to contribute to achieving the main certifications of sustainable building (LEED, BREEAM and VERDE).

Both brands are committed to a business strategy of ongoing investment in R&D&I with the aim of optimising the productive processes and developing new products and services which respond to the most demanding building needs.

The gypsum business maintains agreements with institutions, associations and universities with the aim of developing and improving products as well as boosting innovation and sustainability. The most outstanding case is the Pladur® building solutions Competition which has rewarded creativity, originality and talent in the use of this construction system by architecture students in Spain and Portugal for the last 26 years.

The gypsum business

Spaces which become comfortable

Annual Report 2015 19THE COEMAC GROUP

Geographical markets and customer types

Yesos Ibéricos sells building solutions in over forty countries around the world with an especially significant presence in Spain, France and Portugal as well as North Africa, the Middle East and Central America. A specific technical and commercial team, highly qualified and made up of over forty professionals boosts the geographical expansion of the company and supplies building solutions in the different countries.

The products reach the market through a select network of distributors made up of generalists, specialists and DIY stores. The fundamental value proposal to the distribution channel consists of efficient logistics which allows them to optimise their costs and their resources apart from generating demand by advisers.

Business strategy and competitive position

The gypsum business continues to aim for profitable growth. The fundamental strategy of Pladur® continues to be that of encouraging the use of industrialised building solutions rather than traditional walls. The considerable advantages of the plasterboard systems allows their penetration to increase year after year and enables the business to experience growth that is greater than that of the building industry in general. The most important lever of this change is the advisory function carried out by certain decisive groups such as architects, promoters, builders, decorators, distributors, installers and, in the final instance, users, who enjoy its advantages and whose wellbeing encourages Pladur® to continue to innovate.

Algiss®, for its part, is focussed on developing a new range of gypsums with high performance so as to respond to a market which is more and more demanding.

Competitive position

Pladur® features in the dictionary as a word to designate plasterboard in Spain and also in some countries beyond our frontiers, such as Portugal and Angola. This fact, which we understand as positive, also involves a responsibility: that of ensuring that the brand is associated with high quality building solutions that are effective and efficient.

Over the last few years, the competitive environment for plasterboard on the Iberian peninsula, the predominant market for Pladur®, has changed substantially with the entry of two new actors in Portugal. With them, there are now six manufacturers with an industrial presence in this market. Nevertheless, Pladur® continues to be the indisputable leader in Spain and maintains a significant position in Portugal. In France, and despite its recent introduction in 2012, the brand is beginning to be recognised by the key players in the marketplace.

As regards the traditional powdered gypsum market, this continues to be fundamentally in the hands of small family companies which generate supply in the market which is well above the existing demand, which causes great competitive pressure regarding prices.


In this context, Algiss® has made a commitment to differentiation through building systems based on high-quality gypsums. The new range of products focussed on the refurbishment and restoration market and the new generations of high-performance gypsums for building have become the current focus of the business.

Summary of products and services

Quality

All the products have rigorous corporate certificates which guarantee the environmental management and the quality of the brands, such as the Certificate of the quality management system AENOR UNE-EN ISO 9001:2008 and that of the environmental management system ISO 14001.

PLADUR® SYSTEMS

Plasterboards• Strength, quality and guarantee

Profiles • Technology turned into protection

Compounds• The best solution for each kind of installation

Accesories• Trends in constant growth

ALGISS® POWDERED GYPSUM

Powdered gypsum Manual gypsums, projection gypsums, finishing gypsums, plasters and fillers for restoration and refurbishment

THE COEMAC GROUP

Techos registrables. Pladur® FON+

THE COEMAC GROUP Annual Report 2015 21

Recent relevant works

Over these last two years, gypsum has been a part of numerous emblematic pieces of work and large public buildings which reflect its quality, effectiveness and versatility as well as the status as a reference point that the brand has.

Botín Centre (Santander)

Refurbishment of a Hotel located in Calle Gran Vía, 10 (Madrid)

Refurbishment of the High Speed Train station (Zamora)

Centre Pompidou (Malaga)

3M corporate headquarters (Madrid)

New Hospital, Vigo (Pontevedra)

THE COEMAC GROUP

General description of the business

What we do

Adequa® is the company in the Coemac Group that is dedicated to the water cycle, its distribution and use. The company has been leading the sustainable management of water in Spain for over 100 years, with a team of experts who have always made a commitment to energy efficiency, quality of life and the importance of water saving for sustainability.

Adequa® supplies innovative systems for the collection and channelling of water with multiple applications: supply and evacuation of buildings, urban sewage networks, drinking water supply, distribution of regenerated water or irrigation networks.

Currently, the industrial implantation of Adequa® comprises three production centres:

• Alovera Centre (Guadalajara), where fittings are manufactured, with an injection capacity of 6,000 tons annually. It also houses the central offices of Adequa®.

• Alcázar de San Juan (Ciudad Real) Centre, where Adequa® manufactures pipes for sewerage and evacuation, with an annual transformation capacity of 47,400 tons of PVC.

• Antequera Centre (Malaga): where Adequa® manufactures pipes for pressurised water distribution, with an annual capacity of 26,000 tons.

.

Committed to sustainability and innovation

Furthermore, Adequa® carries out a great deal of work in promotion, consultancy and support in the engineering and water management sector, as well as in that of building and distribution of materials. Its objective is to gain the confidence of its customers day by day through suitable solutions to their needs and personalised attention and service.

The business area of pipes and fittings has numerous brands of recognised prestige in the markets in which it operates, among which the following should be emphasised:

• Adequa AR®: a high performance, fire retardant system of soundproofed evacuation system.

• Adequa SANECOR®: an integral solution for urban sewerage networks of maximum watertightness and durability.

• Adequa URATOP®: thanks to an innovative bioriented PVC pipe system, this new generation of plastic pipes has improved.

Main figures

• Over 100 years dedicated to water distribution, fifty of which involved developing plastic solutions.

• 680 million fittings manufactured

• 350,000 kilometres of piping installed

• 120,000 projects carried out


The Pipes and Fittings business

Experts in waterways

THE COEMAC GROUP

The company has the integrated certification of the Quality Management Systems and of Environmental Management with the standards ISO 9001 and ISO 14001 awarded by AENOR. Adequa® is also a member of ANAIP (Spanish Association of Plastic Industrialists) where it works actively to improve the standards of quality of the sector.

Geographical market and type of customers

Adequa® has always held a position of leadership in the Spanish market and has been the supplier of reference for piping systems on the Iberian Peninsula.

The national leadership of Adequa® is based on a solid network of more than 1,200 distributors as well as on the close and active collaboration with over 5,000 contractors and technical advisors to whom it offers technical and commercial support so as to supply to the final users the best solutions in water technology.

Adequa® has a wide range of options for building which includes a complete range for water evacuation, from the capture of rainwater on floors and roofs to sanitary fittings present in kitchens and bathrooms and which allows us to have a very representative share on new building construction, whether it is residential or tertiary. To these should be added the good positioning of Adequa® in restoration and refurbishment where the capillarity of distribution is key so as to be able to offer the availability and the level of service necessary in this growing market segment.

Thanks to over 100 years’ history, the Adequa® solutions for infrastructure are authorised in the main Companies and Public

Administrations responsible for water management and they give the reliability of confirmed experience. The know-how of the professional team is key to offering the right solutions to the requirements of the technically most demanding projects.

Adequa®’s international expansion, begun in the 1970s, has intensified so as to take on a new dimension over the last few years thanks to the capacity of the business to supply quality and innovation in the solutions offered to customers. Nowadays, the export activity of Adequa® amounts to 24% of the turnover of the business, having in France the second main market.

Adequa® is also present in different European countries as well as in North Africa and South America.

Business strategy and competitive position

Adequa® makes a commitment to offering differentiated solutions which, due to their quality and innovation, supply added value to customers.

The company is based on two key capacities to structure this proposal: proximity to the customer, whom Adequa® accompanies and supports from the first stages of the project, and the commitment to the operations of the business with total quality and permanent improvement.

This model of success makes Adequa® the best guarantor for the introduction of new and innovative products in the Spanish market. Thus, the company was a pioneer in the development of technology

Informe Anual 201523 Annual Report 2015 23

THE COEMAC GROUP

for PVC corrugation in large diameters and for the industrialisation of the bi-oriented PVC pipe system. This history of innovation and development is maintained and will continue to be the basis of the future of Adequa®.

It is worth pointing out that the Adequa® business model has been reinforced over the last few years thanks to the implementation of a more agile and dynamic organisation, capable not only of continuing to develop this value proposal in Spain but also of extending it to new markets where Adequa® does not yet have a presence.

Summary of Products and services

Quality

The commitment to quality is an essential component of the Adequa® value proposal. In order to make it a reality, the company has an expert technical team whose responsibility it is to guarantee the most rigorous standards in products and their ongoing improvement. Adequa® also collaborates with the standardisation organisations in the national (AENOR), European (CEN) and international (ISO) spheres and actively participates in those working groups that are relevant to its products. The Adequa® range has the most demanding product certifications, granted both by the national organisation and by other European organisations.

Furthermore, the products offered by Adequa® are totally adapted to the demands of the regulations of the Technical Building Code (CTE - according to its Spanish name, Código Técnico de Edificación), they are 100% capable of being recycled and have numerous independent studies which guarantee the characteristics carried out by organisations such as the Eduardo Torroja Institute for Construction Science (Spain), the Fraunhofer Institute in Stuttgart (Germany) , the Association for the Promotion of Research, the Fire Safety Technology (AFITI) and the Centre for Testing, Innovation and Services (CEIS).


URATOP® system for supply networks

THE COEMAC GROUP

ADEQUA® SOLUTIONS

Solutions for building

• System evacuation of water from the interior of a building

• AdequaAR® soundproofed system for evacuation of water from the interior of a building.

• Solutions for evacuation of water from floors

• Solutions for evacuation of water from roofs

Solutions for supply and distribution

• URATOP® System for water supply networks

• Solutions for irrigation systems

Solutions for sewerage and drainage

• SANECOR® system for sewerage

• Pipe system for drainage

Recent relevant works

Solutions for building

Torre Pelli (Seville)

“La Vela” building and Social Centre Ciudad BBVA business park (Madrid)

Hotel Cotton House, Marriott Autograph Collection (Barcelona)

Siam Mall Shopping Centre, Adeje (Tenerife) Solutions for supply and distribution

Water transport project in Hoyo de Manzanares (Madrid)

Mining basins from Las Parras dam, Utrillas (Teruel)

Construction of irrigation supply with reusable water, Torrejón de Ardoz (Madrid)

Piping from the DWTS to the regulating tank in Olivenza and district (Badajoz)

Solutions for sewerage and drainage

Cadiz new bridge, Puerto Real (Cadiz)

WWTS Bargas, Olías del Rey, Mocejón and others (Toledo)

FAN Mallorca Shopping Centre, Urbanization Phases I and II, Palma de Mallorca

Sewerage and purification of waste water at Vegas Bajas. Collectors from the Rivillas and Calamón streams (Badajoz)


We offer solutions based on quality and innovation

4 Summary of 2015 business year

Context Main financial indicators of the Group Financial development of the Group Development by business lines Market environment and challenges for 2016

2829303133

The recovery of the Spanish economy continued throughout 2015

The Spanish economy closed 2015 with an annual average increase of 3.2% in its gross domestic product and so exceeded the expectations at the beginning of the year. The economic growth continued to find support both in external and internal factors. Among the former, the most important were low oil prices, the gradual improvement in European demand and the monetary policy of the European Central Bank (ECB), which has provided a favourable context regarding the Euro exchange rate, interest rates and liquidity.

With regard to internal conditioning factors, the recovery in demand is based on both transitory and structural elements.

Highly positive progress in construction after the change in tendency begun in 2014

Construction in the Spanish market continued the improvement begun in mid-2014, accumulating growth in the segments of new build and renovation, although bidding for civil works was reduced for a second half year of low activity. According to the latest data published by the Spanish Ministry of Public Works, accumulated in December 2015, the building permits for new residential grew by 43%, the non-residential ones increased by 30% and the restoration and refurbishment of buildings increased by 11%. On the other hand, the public bidding for hydraulic works was reduced by 22%.

With regard to the behaviour of building in Coemac’s main

international markets, the authorisations for residential new building remained stable in France, while in Portugal they grew by 20%.

Summary of economic and construction indicators in Coemac’s main markets


Context

SUMMARY OF 2015 BUSINESS YEAR

2014 2015 2014 2015 2014 2015

Population Millions 46,512 46,440 65,773 66,184 10,387 10,335

GDP % Annual variation 1.4 3.2 0.2 1.3 0.9 1.6

CPI % Annual variation -0.2 -0.4 0.5 0.2 -0.3 -0.2

Building activity Thousands of dwellings (1) 34.9 49.7 359.0 369.1 6.8 8.2

Spain France Portugal

Building % Annual variation -4.3 -0.1 -8.9 -2.9 -4.6 2.5

Residential % Annual variation -5.2 3.3 -11.5 -3.1 -8.0 4.5

Non residential % Annual variation -3.2 -4.0 -4.3 -2.7 -2.0 1.0

Civil Works % Annual variation 2.5 6.4 -3.2 -2.7 1.0 1.5

New

Building % Annual variation -2.2 3.0 -0.8 0.8 0.7 5.0

Residential % Annual variation -3.6 3.0 -1.0 1.0 0.0 5.0

Non residential % Annual variation -0.5 3.0 -0.5 0.5 3.0 5.0

Civil Works % Annual variation 4.7 5.0 -1.0 -3.0 1.0 2.0

Renovation

Total % Annual variation -1.8 2.4 -4.2 -1.3 -1.0 3.0

Total

Development of the building segments (% variation in real terms - Euros)

Sources: Spanish Ministry of Public Works, Euroconstruct, Spanish Treasury Department, INE, Eurostat, Coemac estimations

(1) Spain and France: New residential started, Portugal: New residential permits

Spain France Portugal

Building permits for new residential grew by 43%


[in million euros]

Results 2015 2014 % Var.Sales 129.7 120.8 7%

EBITDA (1) 8.4 3.7 127%

Depreciation & Amortization 9.7 10.5 -8%

Operating EBIT (1.3) (6.8) 81%

Operating result (24.9) (25.9) 4%

Result before taxes (26.4) (28.9) 9%

Result of continued activities (68.9) (57.8) -19%

Result of discontinued activities (2) (4.5) (74.8) 94%

Net result (73.4) (132.6) 45%

Attributable net result (76.0) (118.4) 36%

Balance sheet 2015 2014 Var.Non-current assets 157.7 527.9 -370.2

Current assets 44.0 189.0 -145.1

Total Assets / Liabilities 201.6 716.9 -515.3

Equity 110.7 123.4 -12.7

Non-Current liabilities 47.1 85.3 -38.2

Current liabilities 43.8 508.2 -464.3

Net financial debt 1.5 348.1 -346.6

Cash flow statements 2015 2014 Var.Operating activities (6.1) 19.0 -25.1

Investment activities (14.6) (24.2) 9.7

Financial activities (5.5) (9.4) 3.9

Net increase (reduction) of cash and other equivalent liquid assets (26.1) (14.6) -11.5

Cash and other equivalent liquid assets at close of the financial year 5.5 31.6 -26.1

Ratios 2015 2014 Var.EBITDA margin 6.5% 3.1% 3.4 pp

EBIT margin -1.0% -5.6% 4.7 pp

Net result margin -58.6% -98.0% 39.4 pp

Earnings per share (0.406) (0.632) 36%

Main financial indicators of the Group

(1) EBITDA = Operating result + Depreciation&Amortizations + Non-recurrent costs (2) Following the criteria set down by the IFRS, the result obtained by the discontinued activities are grouped on one line.

For more information, consult our “Shareholders and investors” section on our corporate web page www.coemac.com

Coemac improves its operating result and restructures its balance sheet in 2015 after the loss of control of the insulation business in September

In the whole of 2015, Coemac obtained sales of 129.7 million Euros, which represented growth of 7.4% in comparison with the previous year. This increase arose in both half-years although in the second one the growth was reduced to half due to the slowing down of the building market during the last few months of the year.

By geographical areas, the sales in Spain grew by 5.6% with a significant advance in the building and civil works markets although the above-mentioned deceleration was appreciated in the fourth quarter due to different political and economic factors. For their part, international markets (which represented 25% of sales in 2015) continued their satisfactory evolution from previous years and grew by 13.6%, with especially positive behaviour in the second half with an increase of the company’s presence in the French market and making more progress in exports to other countries.

Breakdown of sales by markets

The year 2015 was a turning point for the Group, after the divestment of the Tiles business (Cobert®) and the loss of control of the Insulation Business (URSA®). As a consequence of these operations, the Group assets were reduced by 515 million Euros (from 717 to 202 million Euros) and the turnover by 432 million Euros (from 562 to 130 million Euros).

Evolution of key figures

The loss of control of the insulation business, which took place in September, has enabled Coemac to dispose of practically all of its financial debt which has gone from 365 to 1.5 million Euros at the close of 2015. At the same time, this operation caused a deterioration in own funds of the parent company of the Group, Coemac, S.A., although without any impact at the consolidated level. Additionally, it has been considered appropriate to undertake a series of provisions and depreciation of assets (fundamentally fiscal credits) to restructure the Group balance sheet and adapt it to the new perimeter which has affected the results for 2015 negatively.

For this reason, the net result attributed to Coemac in 2015 was of -76.0 million Euros, which includes the atypical effects of the provisions and restructuring mentioned of -53.9 million Euros and of the discontinued activities of -4.5 million Euros.

Coemac maintained a net financial debt of 1.5 million Euros on 31st December 2015.

Annual Report 2015 30 SUMMARY OF 2015 BUSINESS YEAR

2012 2013 2014 2015

National 112.9 90.7 92.4 97.6

Export (*) 26.8 31.5 28.4 32.1

Sales 139.7 122.3 120.8 129.7

% Export 19% 26% 24% 25%

(*) No. of countries 24 34 37 41

Financial evolution of the Group

Consolidated figures of the Coemac Group

(In million euros) 2012 2013 2014 2015

Sales 139.7 122.3 120.8 129.7

Ebitda -2.3 1.4 3.7 8.4

Ebitda margin -1.7% 1.2% 3.1% 6.5%

Year-end headcount 663 581 555 539


Gypsum (Pladur® and Algiss®)

In 2015, the gypsum business obtained sales of 77.7 million Euros, 6.3% greater than was obtained the previous year. In this way, for a second year, the increase in sales was consolidated after the years of market adjustment. The growth took place in both half years although in the second half, it was affected by the deceleration in sales in Spain at the end of the year.

By geographical areas, the growth in sales took place both in Spain and in international markets. The business is consolidating its position in neighbouring countries and carrying out important export operations to other markets.

From the point of view of product lines, Pladur® completed a year of growth in all its markets while Algiss® slightly reduced its total sales due to extraordinary orders agreed in the first half of 2014 which were not repeated in 2015.

The Ebitda obtained by the business at the end of the year was 10.6 million Euros, which is an increase of 31.4% versus 2014 due to greater sales and the industrial improvements carried out.

Main lines of action carried out in 2015

• Improvement in industrial efficiency

• Development of internationalisation (specific equipment and range of products)

• Progress in the construction of the Pladur® plant in Gelsa (Zaragoza)


Consolidated figures of gypsum 2012 2013 2014 2015 Variation (In million euros) 2015/2014

Sales 80.2 70.6 73.1 77.7 +6.3%

Ebitda 9.0 7.2 8.1 10.6 +31.4%

Ebitda margin 11.2% 10.1% 11.1% 13.7% +2.6 p.p.


Evolution by business lines

SUMMARY OF 2015 BUSINESS YEAR

Annual Report 2015 32 SUMMARY OF 2015 BUSINESS YEAR

Pipes and fittings (Adequa®)

The business of pipes and fittings, Adequa®, completed 2015 with sales of 54.6 million Euros, which means an improvement of 8.2% in comparison with 2014. Both semesters showed growth although during the second half, this was slightly less due to the slowing of sales in the Spanish market at the end of the year.

In geographical terms, the growth arose mainly in the national market where the business performed better than the market and the competitive position was consolidated in the building and civil works segments. Export activity was damaged due to the increase of competitive pressure in France, especially during the first half of the year although this was partly offset with the progress in other international markets.

Despite the large decrease in the price of raw materials and oil throughout the second half, the price of PVC resin did not decrease in the same proportion. Even so, the business advanced in its plan for the improvement of industrial efficiency, with significant improvements in product quality and completed 2015 with an Ebitda of 1.5 million Euros.

Main lines of action carried out in 2015

• Improvement in commercial positioning in domestic markets

• Improvement in industrial efficiency

• Operating efficiency


Consolidated figures of pipes and fittings 2012 2013 2014 2015 Variation (In million euros) 2015/2014

Sales 58.7 51.6 50.5 54.6 +8.2%

Ebitda -6.2 -0.8 0.0 1.5 n.a.

Ebitda margin -10.5% -1.6% 0.0% 2.7% +2.7 p.p.


SANECOR® system for sewage and drainage networks

Annual Report 2015 33SUMMARY OF 2015 BUSINESS YEAR

Market environment

Both the recent development of the economy in Spain and the external factors which are supporting the recovery lead to a forecast that the growth of GDP will stabilise during the next two years at about 2.7%. The strength of the national macro-economic data over the last few months is offset by the doubts and uncertainties both outside and within Spain. However, the activity figures point to growth having stayed high with hardly any signs of deceleration during the close of the previous financial year and the beginning of the present financial year.

It is expected that the fall in the price of oil and monetary policy will continue to boost the recovery although at the domestic level the uncertainty about economic policy stands out as one of the main obstacles for sustainability.

The building sector returned to growth in 2015 boosted by the residential and civil works segments. For 2016, our forecast is an additional improvement if the non-residential segment returns to growth and civil works manage to overcome the post-electoral void without again going into recession.

For the next few years, it is expected that construction will progress somewhat more than the average for the economy, bearing in mind that, although demand continues not to be very significant, it has been neglected over the last few years.

Outside the frontiers of Spain, it is expected that the French residential market will return to growth during 2016 after the increase in authorisations for new building recorded in 2015 after the activation of a range of policies favourable to residential investment. Nevertheless, this improvement will be progressive with the result that it is still expected that the competitive pressure perceived in 2015 will be maintained.

Forecast results

This market context is reflected in the forecasts published by the relevant reports in the sector (Euroconstruct and others) and in our own commercial plans that are under way, referring both to the domestic market and to international markets.

The forecasts are compatible with a new growth in our sales in 2016. The increase in turnover, together with the plans for improvement in the operational excellence of Coemac’s business and the reduction in size of corporate operations, will make it possible to continue improving regarding the operating result for the next year in accordance with the strategic plan 2016-2018.

Investments

The strategic Plan for the period 2016-2018 sets down investments dedicated to a range of initiatives for growth and improvement, foremost among which are the future of the opening of the plasterboard industrial manufacturing centre (Pladur®) located in Gelsa (Zaragoza).

2007 2008 2009 2010 2011 2012 2013 2015

Evolution 2007-2015 in authorisations of new building in Spain (Source: Spanish Ministry of Public Works).

Market environment and challenges for 2016

2014.

651,427

264,795

110,84991,662 78,286

44,162 34,288 34,873 49,696

+1.7% +42.5%

-94.7%

700,000

600,000

500,000

300,000

200,000

100,000

5 Organs of Governance

Board of Directors Audit Committee Remuneration and Appointments Committee Management Committee Risk management

3638383839

Chairman & CEOJavier González Ochoa

Deputy Chairman Gonzalo Serratosa Luján

External proprietary directors Nefinsa, S.A. representada por José Antonio Carrascosa Ruiz

External Independent directors Juan José Nieto BuesoLuis Caruana Font de Mora

Secretary of the Board (not a Director) Carmen del Río Novo


Board of Directors

ORGANS OF GOVERNANCE

From left to right: Gonzalo Serratosa Luján, Javier González Ochoa, Juan José Nieto Bueso, Carmen del Rio Novo, José Antonio Carrascosa Ruiz and Luis Caruana Font de Mora

Profiles of the members of the Board of Directors

Javier González OchoaChairman of the Board since May 2015. Member of the Board since 2002 and General Counsel until his appointment as Chairman. A graduate in Law and with a Master’s Degree in Legal Consultancy from the Instituto de Empresa in Madrid. Master’s Degree in the Stock Exchange and Finance from the Stock Exchange and Financial Studies Foundation in Valencia. He has also been a member of the Board and Management Committee of Air Nostrum LAM, as well as of the chemical group, Aragonesas.

Gonzalo Serratosa LujánDeputy Chairman of the Board since May 2015 and member of the Board since 2007. A graduate in Administration and Management of Companies from the European university in Valencia (ESTEMA) and an International MBA from the Instituto de Empresa. He is a Deputy Chairman of Nefinsa, S.A. and a member of the Family Business Institute and has also been a Director of Air Nostrum LAM and Clickair.

José Antonio Carrascosa RuizMember of the Board of Directors since 2002. He studied Business Science and holds a Master’s Degree in Financial Management from the Stock Exchange and Financial Studies Foundation in Valencia. He is the economic and financial Director of Nefinsa, S.A.. He is a former Head of Administration at the Grupo Valenciana de Cementos and chief financial officer of Uralita.

Juan José Nieto BuesoMember of the Board of Directors of Coemac since May 2008. He is an economics graduate from ICADE. He is the Chairman and Managing Director of Palmera Capital y Servicios, S.L. He was formerly Chairman and Managing Director of Telefónica Media, Chairman of Vía Digital and Managing Director of Antena 3 Televisión and Chairman of Service Point Solutions.

Luis Caruana Font de Mora Member of the Board of Directors since June 2014. He is a graduate in Economic Sciences from Valencia University and an Auditor and Chartered Accountant. He has been a member of prestigious international auditing firms for over 20 years. Since 2009, he has run his own independent auditing firm.

Carmen del Río NovoShe has been the secretary to the board (not a director) since May 2015. She holds a law degree from Universidad CEU San Pablo. She was formerly the General Counsel of Uralita. She began her employment at Ferrovial Agroman as a lawyer in the Legal Advisory service.

The composition of the Board of Directors has been adapted to the current structure of the Group. It also fulfils the recommendations of the last Code of Good Governance of quoted companies (CBGSC) of the National Securities Market Commission regarding the minimum number of Directors (5), the majority of non-executive directors (60%), the presence of more than a third of independent directors (40%) and a percentage of proprietary directors (20%) which does not exceed their representation among the shareholders.

Coemac’s Board of Directors met eight times during 2015.

Informe Anual 201537

Composition of the Board of Directorsby type of director

Executive directors 2 - 40%

Proprietary external directors 1 - 20%

Independent external

directors 2 - 40%

Annual Report 2015 37ORGANS OF GOVERNANCE

The composition of the Audit Committee is as follows:

ChairmanLuis Caruana Font de Mora

Members Juan José Nieto Bueso

Nefinsa, S.A. represented by José Antonio Carrascosa Ruiz

Carmen del Rio Novo, Secretary (Not a director) of the Board of Directors, is in turn the secretary of this Committee without being a

member thereof.

During the year 2015, the Commission has held ten meetings in which subjects in its remit have been dealt with, foremost among which are: the review of the periodic information sent to the National Securities Market Commission, review of the annual accounts once formulated by the Board of Directors, the relationship with the auditors in the review of the risk control systems, and the definition and approval of the internal auditing plan.

Remuneration and Appointments Committee Remuneration and Appointments Committee is made up of the following members:

Chairman Juan José Nieto Bueso

Members Luis Caruana Font de Mora

Nefinsa, S.A. represented by José Antonio Carrascosa Ruiz

Carmen del Rio Novo, Secretary, not a Director, of the Board of Directors, is in turn the secretary of this commission without being a

member thereof.

During the year 2015, the Commission held seven meetings in which the matters within its remit were discussed, foremost among which are: setting and evaluating objectives for the payment of the variable rewards of the management team, approval of the report on the rewards to the Board, modifications on the Board, in the Audit Committee and in the Remuneration and Appointments Committee, and altering the size of the Board of Directors.

Management CommitteeEl Comité de Dirección de Coemac se estructura de acuerdo al siguiente organigrama:

Annual Report 2015 38 ORGANS OF GOVERNANCE

Chairman & CEOJavier González Ochoa

Deputy ChairmanGonzalo Serratosa Luján

Corporate Managers Finance

Miguel Escrivá Bertó

General Counsel

Carmen del Río Novo

Gypsum General Manager

Enrique Ramírez Asperilla

Pipes and Fittings General Manager

Fernando Blasco Marzal

Audit Committee

Annual Report 2015 39ORGANS OF GOVERNANCE

The satisfactory progress, the achievement of objectives and the future plan of any organisation come from managing the potential risks of all kinds in an efficient manner. For Coemac, as an industrial group, business risk management is a very important main axis.

At Coemac, business Risk Management is the responsibility of the Audit Committee as an organ of the Board of Directors. The risk management system is worked out from its identification, analysis and evaluation, both by activity and the current environment, as well as from the mitigating controls and action plans.

The duties of the Audit Committee regarding risk management are as follows:

(a) To identify the different types or risk (external, business, internal, as well as other risks).

(b) To identify the measures planned to mitigate the impact of the risks identified, if they should become reality.

(c) To verify and supervise the Corporate Risks Map as a tool to identify, manage and monitor those risks with a significant impact on Group objectives.

Coemac has an integrated management system implemented in which the critical risks in each of the key business processes are systematically identified, supervised and monitored. In the process of control and risk management different areas of the business are involved, including both the business units and corporate activities. The different risks are identified and evaluated from the analysis of the events which might give rise to them. The evaluation is carried out using metrics which calculate the probability and the impact. The definition of the scale of importance and the scale of probability is carried out according to qualitative and quantitative criteria. Once the critical risks have been identified and re-evaluated, the Management of the company sets up concrete actions, with a person responsible and a space of time to mitigate their impact and probability, at the same time as reviewing the effectiveness of the current controls over the risks. This analysis of the risk, the controls and the actions to mitigate their impact and probability are presented annually to the Audit Committee for supervision and approval. Subsequently, the Audit Committee informs the Board of Directors.

This process, carried out annually and coordinated by Internal Audit, makes it possible to obtain the Risk Map for the company. From this map, the most significant risks are extracted which, together with the main variations in comparison with the previous year, are presented to the Audit Commission for discussion and approval.

Risk management

Perforated continuous ceilings Pladur® FON+

6 Committed to stakeholders

Communication channels with stakeholders Social and environmental commitment

42

44

Coemac considers social responsibility as an integral part of its activity and its business. Starting from this premise, a permanent and fluid dialogue with stakeholders is vital to achieving the objectives of creating value and producing a positive impact in the environment of the Group.

Communication channels with stakeholders

The existence of channels of specific communication and active listening for each of the stakeholders allows them to influence the business project. In turn, Coemac benefits since it can adapt its objectives and business strategies to the needs of the environment in which it operates.

Shareholders

Coemac works, using good governance and transparency, to increase value for shareholders. In that effort, it has the following channels of communication:

• A shareholder and investor section at www.coemac.com

• Investor Relations Department: a direct communication channel for individual shareholders, institutional investors and analysts

• General Meeting of Shareholders

• Forums with national and international investors

Informe Anual 2015 42 COMMITTED TO THE STAKEHOLDERS

Shareholder structure

on 31st December 2015

Pool de activos Grupo Nefinsa

79.06%

Treasury stock 5.12%

Remainder 15.82%

Customers

Coemac is an organisation that is oriented to its customers and committed to offering them safety, trust and innovative solutions. For this reason, it has a variety of channels which allow it to gain knowledge of the needs of its customers:

• E-commerce (pladur.biz)

• Customer services

• After sales service

• Satisfaction surveys

• Organisation of technical days and training

• Dissemination of activities carried out by or for customers

Professionals

Coemac’s commitment to its employees is to offer them an environment of opportunities in which it is possible to develop their human and professional potential. For this reason, the group carries out a variety of actions and has a range of bi-directional communication channels.

• Health and safety

• Worker representation

• Training

• Internal communication - Suggestions boxes - Notice boards - Monitoring and exit interviews

• Evaluations of performance

• Charitable activities

Annual Report 2015 43COMMITTED TO THE STAKEHOLDERS

Sales by market segment

2015

Civil works 18%

Headcount distribution by business

In persons and percentages - On 31st December 2015

Corporate 18 - 4%

Total headcount

539persons

New residential building

23%

Restoration and refurbishment

41%

New Non-residential

building 18%

Pipes and fittings

216 - 39%

Gypsum 307 - 57%

Coemac considers social responsibility to be an integral part of its activity and its business

Suppliers

The relationship of Coemac with its suppliers is based on the search for progress and mutual profit by means of the construction of lasting relationships based on respect.

• Policy of selection and evaluation of suppliers

• Awards by the purchasing committee • Ethical code of the supplier

Other stakeholders

The company maintains ongoing and stable relationships with other groups of special interest to the Group, such as:

• Analysts and foreign investors, with participation in conferences and meetings.

• Media organizations, by means of frequent sending of press releases, attention to information requests, meetings and interviews.

• Universities and the educational world, with events such as the annual competition of Pladur® Construction Solutions.

• End users. Specific web sites for each of the businesses in which detailed information on the products and contact numbers are supplied for technical assistance.

Society

Coemac maintains the commitment of contributing for reasons of solidarity to the development of its social environment. In order to achieve this, it uses and develops the following instruments and initiatives.

• Collaboration and contributory associations

• Collaboration with the university world

• Actions and contributions for reasons of solidarity

• Corporate web site, Twitter and Linkedin accounts

• Telephone and e-mail

• Publications

• Participation in fairs, events, meetings and talks

The Environment

The Group is committed to the manufacturing and marketing of products which have a positive impact on the environment by means of the improvement of the energy efficiency of buildings or more efficient water management among other factors. The environmental commitment is also reinforced through a range of actions:

• Protection of the environment and management

of industrial centres

• Participation and collaboration with associations in the sector

• Participation in awareness-raising events

• Analysis of the environmental impact of our products


Social and environmental commitment

COMMITTED TO THE STAKEHOLDERS

7 Financial calendar 2016 Contacts

29th February 2016 Release of second half 2015 results

30th March 2016Release of 2015 results

28th April 2016 Release of first quarter 2016 results

19th May 2016 General Meeting of Shareholders

Final week of July 2016 Release of first half 2016 results

2nd week in November 2016Release of third quarter 2016 results

Final week of February 2017 Release of second half 2016 results

First week of April 2017 Release of 2016 results

(*) Dates for orientation only subject to change

Consult updated calendar on www.coemac.com

Investor Relations OfficerGerardo Gorostiza Manzano

Investor Relations Telephone Number

+34 91 594 90 03

[email protected]

Ticker on Madrid and Valencia Stock Exchanges

CMC

ISIN CODEES0182170615


Financial calendar 2016*

Information on the company and Coemac actions


OFFICES

Group headquartersCorporación Empresarial de Materiales

de Construcción, S.A. (Coemac)Paseo de Recoletos, 328004 Madrid, Spain

Phone: +34 91 594 90 00Website: www.coemac.com

Twitter: @coemac_saLinkedin:

www.linkedin.com/company/coemac

Gypsum business headquarters

Ctra. de Andalucía, km. 30,20028340 Valdemoro (Madrid, Spain)

Phone: +34 91 809 93 50Websites:

www.pladur.com - www.algiss.com

Pipes and fittings headquarters

Ctra. N-II, km. 47,50019208 Alovera (Guadalajara, Spain)

Phone: +34 902 19 00 00Email: [email protected]

Website: www.adequa.es

Linkedin: www.linkedin.com/company/

adequa-water-solutions

PRODUCTION PLANTS

Gypsum production plants

Valdemoro factory Ctra. de Andalucía, km. 30,200

28340 Valdemoro (Madrid, Spain)

Beuda factory Ctra. Besalú a Beuda, km. 117850 Beuda (Girona, Spain)

Mañeru factory Camino de San Vicente S/N

31130 Mañeru (Navarra, Spain)

Martos factory Ctra. Martos a Santiago de Calatrava km. 5,4

23600 Martos (Jaén, Spain)

Pipes and fittings production plants

Alovera factory Ctra. N-II, km. 47,500

19208 Alovera (Guadalajara, Spain)

Alcázar de San Juan factoryPol. Industrial Alces

Avda. de los Vinos, 2413600 Alcázar de San Juan

(Ciudad Real, Spain)

Antequera factoryPol. Industrial de Antequera

Avda. del Romeral, 1529200 Antequera (Málaga, Spain)

CUSTOMER SERVICES

Customer services at Pladur®Phone: +34 902 023 323

Email: [email protected] Orders: www.pladur.biz

Customer services at Algíss®Phone: +34 902 321 121

Email: [email protected] Orders: www.algiss.biz

Customer services at Adequa®Phone: +34 902 19 00 00Email: [email protected]

Directory of Companies and Brands

Paseo de Recoletos, 3 28004 Madrid, SpainPhone +34 91 275 87 15Fax +34 91 523 77 58www.coemac.com