Lafarge - February 2013
Lafarge's turnover increased by 3.5 per cent in 2012 to EUR15,816m and the EBITDA improved by 7.2 per cent to EUR3450m. The trading profit showed a 12 per cent recovery EUR2440m and net financial charges increased by a further 3.2 per cent to EUR1031m, following the 40.3 per cent jump in the previous year. Other net charges, notably a further EUR200m reduction in the value of assets in Greece, totalled EUR488m, a decline of 3.2 per cent, giving a pre-tax profit of EUR921m, a 36.2 per cent recovery. The net attributable profit, helped a lower tax charge, declined by 27.2 per cent to EUR432m, but excluding exceptional items, increased by 70.4 per cent. Net debt at the end of December was 5.5 per cent lower at EUR11,317m, giving a gearing level of 63.8 per cent, or 72.2 per cent, excluding minorities. Capital expenditure was reduced yet again and came down by 31.9 per cent to EUR817m. Current capital commitments include two major projects in Russia and India as well as increasing grinding capacities in Brazil, the Philippines and Algeria.