France: Lafarge has reported that its sales fell by 4% year-on-year to Euro4.24bn for the third quarter of 2013 from Euro4.39bn for the same period in 2012. The France-based building materials multinational blamed the results on adverse exchange rates which had a negative impact of 7% on both sales and profit indicators such as earnings before interest, taxes, depreciation and amortisation (EBITDA). Lafarge reported that its EBITDA fell by 6% year-on-year to Euro 1.01bn for the third quarter of 2013. Cement volumes remained stable at 36.7Mt.
By business region, cement sales volumes fell in North America, Western Europe, Central and Eastern Europe and Latin America for both the third quarter and the year to date. Mixed results were reported in the Middle East and Africa where cement sales volumes have fallen overall so far in 2013 but rose in the third quarter. Asia saw cement volumes rise in both periods.
Lafarge expects that the cement sector will grow at 0 - 3% in 2013 compared to 2012 due to market recovery in the US, continuing growth in most emerging markets and 'stabilisation' in Europe. The company intends to reduce its net debt to below Euro10bn in 2013, and below Euro9bn in 2014.
