France: Ciments Français' earnings before interest, taxes, depreciation and amortisation (EBITDA) have slowed their reduction year-on-year to 5.2% in the first half of 2013. The Italcementi subsidiary reported that sales recovered in the second quarter of 2013.
In the first half of 2012 EBITDA fell by 17.1% year-on-year. In the first half of 2013 EBITDA fell year-on-year by 5.2% to Euro305.4m from Euro323.6m from the same period in 2012. Revenue for the half year decreased by 4.2% to Euro1.83bn from Euro1.91bn. By quarter, revenue fell by 7.3% in the first quarter of 2013 but only fell by 1.6% in the second quarter of 2013.
Cement sales for the first half of 2013 fell by 4.8% to 19.2Mt. By region, cement sales fell by 5.8% to 4.5Mt in Western Europe and by 11.7% in Emerging Europe, North Arica and Middle East. Sales rose by 1% in North America and by 5.3% in Asia. By country, cement sales were particularly down in Egypt, due to fuel supply issues, and in Morocco.
In its outlook Ciments Français expected that its full year results would be comparable to those in 2012. However, market trends in territories such as Egypt present significant variables in making forecasts.
