Lafarge - November 2013
In the first nine months of the year, Lafarge's turnover declined by 4.4 per cent to EUR11,484m while the EBITDA fell by 10.5 to EUR2309m. At the trading level the reduction was 15.2 per cent to EUR1546m, while net financial charges eased by 1.7 per cent to EUR792m and other expenses fell to less than a third of the previous year's charge, leading to a pretax profit 6.3 per cent lower at EUR656m. A lower tax charge and an increased income from discontinued activities led to a net attributable profit 37.6 per cent higher at EUR388m. Net debt at the end of September was 10.3 per cent lower at EUR10,944m, giving a gearing level of 74.8 per cent. Capital investment, which had fallen by 45.1 per cent at this time last year, increased by 55.7 per cent to EUR763m as development expenditure jumped by 76.6 per cent and maintenance capital expenditure was increased by 20.3 per cent. For the full year, capital expenditure is forecast to amount to some EUR900m.