Lafarge - February 2014

Lafarge's turnover declined by 3.9 per cent to EUR15,198m in 2013, having increased by 3.5 per cent in 2012. The EBITDA came down by 9.4 per cent to EUR3102m and the trading profit fell by 14 per cent to EUR2075m as carbon credits dropped by 85.9 per cent from EUR99m to EUR14m. Net financial charges, which had been rising in recent years, declined by 4.9 per cent to EUR1041m, while other charges were 88.9 per cent lower at EUR55m, resulting in a pretax profit 20.2 per cent higher at EUR998m. The net attributable profit, after a further 10.3 per cent reduction in the tax charge and a 4.2 per cent lower minorities charge, jumped by 64.7 per cent to EUR601m. Net debt at the end of December was 8.7 per cent lower at EUR10,330m, giving a gearing level of 62.6 per cent, or 71 per cent excluding minorities. After a period of declining, capital expenditure rose by 38.4 per cent last year to EUR1046m and a further EUR25m was spent on acquisitions.

To continue reading this story and have 100% free access to the website, please Register for a subscription to International Cement Review or Login