Displaying items by tag: France
Vicat like-for-like sales fall by 4.4% in 2015
05 February 2016France: The Vicat group has today reported that its sales, at constant scope and exchange rates, fell by 4.4% in 2015. Reported sales rose slightly, by 1.5% year-on-year to Euro2.46bn in 2015, compared to Euro2.43bn in 2014. Cement sales fell by 0.4% to Euro1.26bn from Euro1.26bn.
"The sales growth achieved by the Vicat group in 2015 again reflected a contrasting picture from one region to another. Business momentum in the United States and Asia helped to offset the impact of a more challenging macroeconomic and competitive environment in West Africa and the Middle East, as well as in Europe. Notably, the group's activity returned to growth in France in the fourth quarter, helped by a positive weather effect and a stabilising industry environment," said the Group's Chairman and CEO, Guy Sidos.
By region, Vicat noted falls in sales in its cement business in France and Europe.
This decline was blamed on a volume contraction and a slight decrease in average selling prices. Sales in the US grew by 23.6% on a like-for-like basis in 2015 due to high volumes, strong momentum in the south-eastern US and price increases. Sales in Asia grew by 3.1% on a like-for-like basis driven by increases in Turkey and India despite a decrease in Kazakhstan. Notably, Vicat reported that its sales rose in India, despite falling volumes due to price increases. Sales in Africa and the Middle East fell by 16.6% on a like-for-like basis, mainly due to a steep fall in business in Egypt.
Reported sales volumes in cement fell by 3.6% to 19.8Mt in 2015 compared to 20.5Mt in 2014.
Vicat’s sales up by 1.9% in the first nine months of 2015
04 November 2015France: Vicat's sales in the first nine months of 2015 grew by 1.9% year-on-year to Euro1.88bn. In the third quarter of 2015, its sales grew by 1.7% to Euro640m on a reported basis and declined by 3.7% at constant scope and exchange rates. Vicat reported robust business trends in the US, activity growth in Asia underpinned by Turkey and India, a reduced down-trend in France and lower activity in West Africa and the Middle East.
"Vicat's third-quarter performance still reflects a contrasting picture from one region to another, but there were signs of improvement in certain markets," said Vicat's Chairman and CEO. "Strong increases were recorded in the US and Turkey, while volumes in India returned to growth in a still favourable pricing environment, and, lastly, our production unit in Kazakhstan ran at full capacity in a market nevertheless affected by a strong currency devaluation. In France, the shortfall compared with 2014 declined significantly in the cement business over the past quarter and the market currently appears to be gradually stabilising at an historically low level for French cement consumption. Against this backdrop, Vicat remains focused on its objectives of maximising its cash flow and reducing its debt, while leveraging the efficiency of its manufacturing facilities, its geographical diversification and its strong positions in its local markets."
ThyssenKrupp merges plant technology businesses in France
02 October 2015France: The industrial and technology group ThyssenKrupp is has announced that it is 'strengthening its plant technology capabilities in France' by merging the formerly separate entities Polysius and KH Mineral to become ThyssenKrupp Industrial Solutions (France). The step came into effect on 1 October 2015.
The group said that the strategic move is another 'milestone' for the plant engineering and construction company in its efforts to further promote the integration and regionalisation of its plant technology business worldwide. It said that the move pursues ThyssenKrupp's overriding goal of integrating its businesses more closely to create sustainable value as a diversified industrial group. As of today, ThyssenKrupp Industrial Solutions (France) employs around 300 employees at two locations in Aix-en-Provence and Sarreguemines.
Samir Abi Ramia, CEO of ThyssenKrupp Industrial Solutions (France), said, "On the basis of decades of experience in European, Middle Eastern and African markets, excellent engineering skills and proven technologies, we can now offer tailor-made solutions for the cement, mining and raw materials industries in general from a single source. Joining our forces in France, while at the same time benefiting from the global network of one of the world's leading engineering and construction specialists, will enable us serve our customers' needs even better."
Former Lafarge HQ bought by insurer
02 October 2015France: The French insurer of health professionals MACSF has announced that it has paid Euro150m to real estate agent Eurosic to buy the office building in Paris that is the former headquarters of cement group Lafarge. Lafarge left the building after its merger with Swiss peer Holcim as the headquarters of the combined group was moved to Switzerland.
The building was constructed in 1993, covers a surface of 12,000m2 and is situated in the 16th Arrondissement in central Paris.
France: Lafarge has reported mixed results for the second quarter and first half of 2015, with lower cement volumes but higher sales for both periods.
In the second quarter of 2015, cement volumes decreased by 3% due to lower export sales. On its domestic markets, Lafarge's volumes increased by 2%. Cement prices fell by 0.5% year-on-year but rose by 0.5% quarter-on-quarter. Volumes were supported by continuing positive trends in many markets such as Romania, the Philippines, Egypt and Canada, while adverse weather limited growth in the US. Some markets faced more challenging economic and/or political environments. This was notably the case in France, where the construction sector remains subdued. In Brazil, Lafarge faces a very challenging overall environment. In Iraq and Syria difficulties in transporting cement across the country have prevailed since June 2014.
Lafarge's sales grew by 5% year-on-year to Euro3.54bn in the second quarter of 2015. Exchange rates continued to be favourable with a positive impact on sales of Euro249m or 8%, while the impact of Lafarge's divestments, notably in Ecuador, Russia and Pakistan, reduced its sales by 3% or Euro75m. Its earnings before income, taxes, depreciation and amortisation (EBITDA) improved by 1% to Euro820m, supported by favourable exchange rates with a positive impact of Euro52m or 6%. Its operating income fell by 3% year-on-year to Euro608m.
Results in the second quarter of 2015 were impacted by one-off items in connection with the creation of LafargeHolcim that was finalised on 10 July 2015. These one-off items include Euro450m of impairment on some of the assets to be divested to CRH in the third quarter of 2015. Pre-tax merger costs of Euro94m were booked in the second quarter of 2015 and one-off restructuring costs, mainly reflecting reorganisation measures in France, amounted to Euro51m, compared to Euro32m in the same period of 2014. Excluding one-off items, Lafarge's net income was Euro210m in the second quarter of 2015, down by Euro27m from the same period of 2014.
Lafarge received Euro232m in cash for divestments in the second quarter of 2015, mainly reflecting the proceeds for its operations in Pakistan. Investments totalled Euro262m. Capital expenditures remained limited at Euro82m compared to Euro67m in the second quarter of 2014. Development investments amounted to Euro180m, mainly including projects in North America (Exshaw in Canada and Ravena in the US) and in Algeria, as well as a few debottlenecking projects, notably in the Philippines.
For the first half of 2015, Lafarge has reported a 4% year-on-year reduction in cement sales to 54.7Mt, while its sales grew by 5% to Euro6.32bn. Its EBITDA grew by 6% to Euro1.22bn and its operating income grew by 8% to Euro813m.
For the entirety of 2015, Lafarge expects cement market growth of 1 - 4%. Cost inflation should continue albeit at a slower pace than in 2014, given the evolution of fuel oil prices. This should result in higher prices overall. Lafarge should also benefit from more favourable exchange rates.
Holcim France becomes Orsima with CRH buyout
20 July 2015France: Holcim's French subsidiary will be renamed Orsima on 1 August 2015, according to Le Moniteur. The change comes at a time when the assets have been purchased by CRH as part of the LafargeHolcim merger. The businesses of Cement Orsima, Orsima Concrete and Aggregates Orsima will be used legally and commercially.
With the acquisition, CRH becomes the third-largest cement producer in France with about 15% of the market share. The assets include three cement plants (Holcim Lumbres, Héming and Rochefort-sur-Nenon), four grinding plants (Grand-Couronne, Dannes, Dunkirk and La Rochelle), a mixing station in Montoir-de-Bretagne, Loire-Atlantique and 170 concrete plants and aggregates sites (LafargeHolcim will retain eleven in Haut-Rhin Department).
New CEO for Lafarge’s French unit
22 June 2015France: Lafarge Group has appointed Benedicte de Bonnechose as CEO in charge of operations of its French unit. She will succeed Pascal Casanova, who was appointed as head of Latin American operations at the future combined group LafargeHolcim.
Bonnechose has been a member of Lafarge's board since 2012.
She has played a key role at the group's reorganisation in France and was in charge of its strategy, public affairs and environment businesses. Since 2013 Bonnechose has been CEO of Lafarge's aggregates unit.
France: Lafarge chief executive Bruno Lafont has been awarded a Euro2.5m bonus for the successful merger with Holcim. The board of directors of the company awarded Lafont the money 'for his key role in the merger project with Holcim' and 'his exceptional performance,' according to a document posted on its website. The board accorded the bonus at a meeting on 12 May 2015, two days after Holcim shareholders approved the merger by a vote of 94%. Lafont will receive the money in May 2015.
Lafarge reports loss in first quarter of 2015
30 April 2015France: Lafarge has reported a loss for its net income of Euro96m for the first quarter of 2015, an improvement from a loss of Euro135m for the same period in 2014. The multinational building products manufacturer blamed the loss on seasonal factors and noted that it had been 'significantly' reduced due to operational performance and cost cuts. Otherwise, sales rose by 6% year-on-year to Euro2.78bn from Euro2.63bn. Volume of cement sold fell by 4% to 25Mt from 25.9Mt.
"Our markets are developing in line with our expectations and growth shall accelerate gradually in the coming quarters. We reaffirm our expectation of cement volume growth of 2 to 5% in our markets in 2015. We also confirm our target to significantly grow our operational results with an expected underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA), excluding the impact of the planned merger with Holcim, of between Euro3bn and Euro3.2bn in 2015," commented Bruno Lafont, chairman and chief executive officer of Lafarge.
Regional sales were affected both positively and negatively by currency exchange variations and divestments of assets. Notably, cement sales volumes fell by 8% to 2.4Mt and sales revenue fell by 9% to Euro457m in Western Europe, principally due to lower volumes in France. Cement sales volumes fell by 6% to 9.9Mt but sales revenue rose by 9% to Euro972m in Middle East and Africa. Volumes in this region were affected by transport limitation in Iraq and the suspension of operations in Syria. Asia continued to show both improving sales volumes and revenue in the quarter.
Europe: CRH has been approved by the European Commission as a purchaser of assets in the European Union from Lafarge and Holcim. CRH has also received from the European Commission the clearance for the acquisition of these assets. These divestments remain subject to the completion of the merger between Lafarge and Holcim, including a successful public exchange offering to Lafarge's shareholders and approval by Holcim's shareholders.
In France Holcim and Lafarge are divesting all of Holcim's assets, except for its Altkirch cement plant and aggregates and ready-mix sites in the Haut-Rhin region, and a grinding station of Lafarge in Saint-Nazaire. Lafarge's assets on Reunion island are being sold except for its shareholding in Ciments de Bourbon. All of Lafarge's assets are also being sold in Germany and Romania. Lafarge Tarmac assets in the UK are being sold with the exception of its Cauldon and Cookstown plants and certain associated assets. In Hungary all of Holcim's operating assets are being divested and it is selling its assets in Slovakia.