Displaying items by tag: France

France: The Vicat Group has reported that its consolidated cement sales have fallen by 2.8% year-on-year to Euro855m for the first nine months of 2013 from Euro879 in 2012. No reason was given for the decline. Cement sales volumes rose by 1.4% year-on-year to 13.7Mt. Overall the company saw its total sales remain stable year-on-year at Euro1.74bn.

"The United States, Switzerland, Turkey and Kazakhstan again delivered healthy business levels while political and security factors in Egypt and competition in India and Senegal continued to weigh on the Group's performance in these regions," said Guy Sidos, CEO of Vicat.

France: The Vicat Group has reported that its sales rose by 1.7% year-on-year to Euro1.15bn in the first half of 2013 from Euro1.13bn in the same period of 2012. The group's earnings before interest, taxes, depreciation and amortisation (EBITDA) remained static year-on-year at Euro201m.

" Performance in Turkey, Kazakhstan and the United States improved substantially, making up for the tough competitive environment in India and the uncertainty that continues to prevail in Egypt. Operating performance in France also improved despite the persistently unfavourable market climate," said Vicat chief executive officer Guy Sidos.

Vicat's cement sector saw its volumes increase by 3.8% year-on-year to 9.21Mt from 8.87Mt. Operational sales increased slightly by 1.2% to Euro693m from Euro685m. EBITDA for the cement sector fell by 5.2% to Euro147m from Euro155m.

By region for its cement business, sales in France fell by 10.5% in the first half of 2013, mostly caused by a poor first quarter and a decline in export markets. Vicat declined to present specific figures for certain territories. In Switzerland its cement business saw its EBITDA fall by 6.2% and in Italy sales fell by 16%. In the US sales rose by 4.1% with strong growth from new infrastructure projects.

In Turkey sales rose by 18.9% due to volume and price rises. In India overall sales rose by 18.4% to Euro87.3m as Vicat built up its cement businesses. However competition, increased production costs and start-up costs for Vicat Sagar caused EBITDA to fall by 77.7%. In Kazakhstan overall sales rose by 42.8% to Euro38.9m. In Egypt sales fell by 11.8% to Euro47.2m despite a sharp increase in prices. In West Africa sales fell by 4.1% due to a fall in prices.

France: Ciments Français' earnings before interest, taxes, depreciation and amortisation (EBITDA) have slowed their reduction year-on-year to 5.2% in the first half of 2013. The Italcementi subsidiary reported that sales recovered in the second quarter of 2013.

In the first half of 2012 EBITDA fell by 17.1% year-on-year. In the first half of 2013 EBITDA fell year-on-year by 5.2% to Euro305.4m from Euro323.6m from the same period in 2012. Revenue for the half year decreased by 4.2% to Euro1.83bn from Euro1.91bn. By quarter, revenue fell by 7.3% in the first quarter of 2013 but only fell by 1.6% in the second quarter of 2013.

Cement sales for the first half of 2013 fell by 4.8% to 19.2Mt. By region, cement sales fell by 5.8% to 4.5Mt in Western Europe and by 11.7% in Emerging Europe, North Arica and Middle East. Sales rose by 1% in North America and by 5.3% in Asia. By country, cement sales were particularly down in Egypt, due to fuel supply issues, and in Morocco.

In its outlook Ciments Français expected that its full year results would be comparable to those in 2012. However, market trends in territories such as Egypt present significant variables in making forecasts.

France: The French multinational cement producer Lafarge has reported that its earnings before interest, tax, depreciation and amortisation (EBITDA) fell year-on-year in the second quarter of 2013. Despite this Lafarge said that its EBITDA was 'steady' considering the adverse weather conditions, absence of carbon dioxide sales and the negative impacts of foreign exchange variations seen during the quarter.

EBITDA for the second quarter of 2013 was recorded as Euro922m, 8% down on the second quarter of 2012 when it was Euro1002m. Operating income was also down from Euro750m in the second quarter of 2012 to Euro667m in the second quarter of 2013. However, Lafarge's net income for the quarter was Euro201m, significantly up on the same period of 2012 due to exceptional items during the year-ago quarter relating to Greek assets. It reported that it generated a total of Euro260m in the first half of 2013, which Lafarge described as 'on track' with its plan.

The group sold a total of 36.5Mt of cement in the second quarter compared to 38.4Mt in the second quarter of 2012. It sold 65.2Mt/yr of cement in the first half of 2013 against 69.7Mt sold in the first half of 2012.

Lafarge's net debt at the end of June 2013 was down by Euro0.7bn compared to at the end of June 2012, reflecting the strict control of investments and working capital optimisation. With the recently announced divestment of its US gypsum operations, the group has secured Euro1.5bn since the beginning of 2012. Euro0.9bn more will come in the second half of 2013.

Bruno Lafont, Chairman and Chief Executive of Lafarge, said, "Our results in the second quarter resisted in an environment that was marked by a conjunction of unfavourable circumstances. We increased prices and performance and innovation results are in line with our 2013 Euro650m additional EBITDA target. Taking into account first-half volumes, we foresee a cement demand growth in our markets of 0-3% in 2013, which implies more positive trends in the second half."

Lafarge's sales volumes across all business lines were down in the second quarter of 2013. It suggested that this was in part due to a better-than-expected 2012 performance and poorer weather in 2013, especially in North America. A temporary fuel shortage in Egypt also put some pressure on cement volumes in that country.

Across all business units Lafarge's EBITDA in North America was Euro141m in the second quarter of 2013, down by 17% (8% on a like-for-like basis) compared to Euro170m in the same period of 2013. EBITDA for this region was flat year-on-year despite the loss of assets in the US cement industry. This represents a like-for-like improvement of 17%.

In Western Europe, Lafarge's EBITDA was Euro145m, down by 16% (14% like-for-like) compared to Euro173m in the second quarter of 2012. In the first half overall its EBITDA plummeted by 45% (38% like-for-like) from Euro255m in 2012 to Euro150m in 2013.

In Central and Eastern Europe, EBITDA was also down in the second quarter, from Euro101m in 2012 to Euro80m in 2013. This was a 21% fall in both absolute and like-for-like terms. In the first half of 2013 its performance was similarly poor, with a 48% drop in EBITDA from Euro87m in the first half of 2012 to Euro45m in the first half of 2013.

The Middle East and Africa saw an 8% decline in EBITA in absolute terms (1% like-for-like) from Euro329m in the second quarter of 2012 to Euro304m in the second quarter of 2013. Over the first half of 2013 its EBITDA for this region fell by 15% in absolute terms (10% like-for-like) from Euro646m in 2012 to Euro550m in 2013.

Latin America, however, saw a 1% improvement (7% like-for-like) in EBITA year-on-year from Euro70m in the second half of 2012 to Euro71m in the second quarter of 2013. In the first half its EBITDA for this region fell by 5% year-on-year (up 1% like-for-like) from Euro129m in 2012 to Euro122m in 2013.

Finally, Lafarge's best performing region was Asia, where it recorded EBITDA improvement of 14% year-on-year (16% like-for-like) in the second quarter to Euro181m from Euro159m. In the first half, absolute improvement in EBITDA was also 14% higher (17% like-for-like) at Euro306m compared to Euro268m in 2012.

Looking towards the future, Lafarge expects cement growth in its markets of 0-3% in 2013 compared to 2012, factoring in low volumes in the first-half. Emerging markets continue to be the main driver of demand and Lafarge says that it will benefit from its 'well-balanced geographic spread of high-quality assets.'

The group also expects higher pricing in 2013 and that cost inflation will continue, although at a lower rate than in 2012. This, it says, will benefit from positive trends in coal and petcoke prices. The group targets to deliver additional EBITDA of Euro650m in the year through its performance and innovation measures.

France: Lafarge has announced changes to its Executive Committee due to start from 1 September 2013. Sonia Artinian and Peter Hoddinott will join existing committee members Eric Olsen, Guillaume Roux and Alexandra Rocca.

Sonia Artinian, currently Country CEO for Romania, is appointed as Executive Vice-President of Organization and Human Resources, taking over from Eric Olsen.

Artinian, a French national, joined Lafarge in 2008 as Senior Vice-President Organization, Learning and Development. She started her career as a strategy consultant, notably working for Cap Gemini Consulting. She is a graduate of École nationale de génie rural des eaux et forêts and of Ecole Normale Supérieure de Lyon (section biology).

Peter Hoddinott, currently Head of Energy and Strategic Sourcing at the Performance department, is appointed as Executive Vice-President of Performance, taking over from Guillaume Roux.

Hoddinott, a British national, joined Lafarge in 2001 with the acquisition of Blue Circle by Lafarge. He worked for the mining industry before joining Blue Circle in 1995, where he held several operational positions in the UK, before being appointed General Director for the Philippines in 1999. He is a graduate of Imperial College and holds a Master of Business Administration from London University.

Eric Olsen, currently Executive Vice-President Organization and Human Resources, is appointed Executive Vice-President of Operations, taking over from Jean-Carlos Angulo, who has decided to retire.

Olsen, a US national, joined Lafarge in 1999 after starting his career at Deloitte & Touche. He became Chief Financial Officer of Lafarge North America in 2004.

Olsen holds a Bachelor of Science degree in finance and accounting from the University of Colorado, and an MBA from the HEC international business school in Paris.

Alexandra Rocca, currently Senior Vice-President Group Communications, is appointed as Executive Vice-President Communications, Public Affairs and Sustainable Development.

Rocca, a French national, joined Lafarge in 2010 as Senior Vice-President Group of Communications and has been a member of the group Executive Committee since January 2012. She began her career at Printemps Group in 1986 with subsequent roles at Air Liquide Group, Galeries Lafayette and Crédit Agricole S.A. group. She is a graduate from the HEC international business school in Paris, the Institut d'Etudes Politiques in Paris and holds a BA in French literature.

Guillaume Roux, currently Executive Vice-President Performance, is appointed Executive Vice-President of Operations.

Roux, a US-French dual national, has spent his entire career with Lafarge which he joined in 1980 as an internal auditor. Subsequent roles since have included Chief Executive for Turkey in 1999, taking responsibility for Lafarge's cement operations in South-East Asia in 2002 and becoming Executive Vice President and Co-President of the Cement Division with the responsibility for the Cement business in Eastern Europe, the Middle East and Africa in 2006. In 2008 he supervised the integration of Orascom's operations with Lafarge. He is a graduate of the Institut d'Etudes Politiques in Paris.

France: On 20 June 2013 France-based cement producer Vicat announced that it had begun 10 days of trials at its Créchy cement plant in Allier with the aim of producing a new, low-CO₂ type of cement known as ALPENAT®.

The trials, which aim to produce 10,000t of ALPENAT, are a first step towards full industrial production following years of research by Vicat into lower-CO₂ cements. It is claimed that ALPENAT has embodied CO₂ levels that are 30% lower than that of conventional cement.

While Vicat is currently keeping chemical and technical specifics out of the public domain, it reports that ALPENAT achieves its lower CO₂ emissions via two methods. It reports that it has: 1. Reduced the temperature required in the kiln and; 2. Reduced the levels of limestone included in the cement raw mix, which reduces the CO₂ released in the decarbonation step.

In addition to its good environmental credentials, ALPENAT is also presented by Vicat as a high-performance cement. It allows faster setting, an increase in resistance at seven and 28 days compared to OPC in the same strength class (42.5 or 52.5) and improved durability. It has already proven its strength over two years at the Vicat Montalieu cement plant, where a ramp for 100t dumper trucks has been constructed out of concrete made from ALPENAT.

Vicat says that the research that led to ALPENAT was made possible by its focus on research and development, mainly at its Isle d'Abeau laboratories.

The Vicat announcement about ALPENAT comes hot on the heels of trials conducted by Lafarge, which recently presented details of its Aether® cement clinker to the cement industry. This belite-based cement was featured in the May 2013 issue of Global Cement Magazine.

France: Ciments Français' revenue fell by 7.3% year-on-year to Euro819m in the first quarter of 2013, from Euro884m in the same quarter in 2012. The Italcementi subsidiary commented that the first quarter of 2012 had suffered due to bad weather.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 14.9% to Euro112m in the first quarter of 2013 from Euro132m in the first quarter of 2012. By business segment, revenues for cement and clinker fell by 8% to Euro556m from Euro604m.

In Western Europe sales volumes of cement and clinker fell by 14.1% to 1.9Mt. In North America sales volumes fell by 3.9% to 0.7Mt. In the company's emerging Europe, North Africa and Middle East region sales volumes rose by 11.2% to 2.7Mt. In Asia sales volumes rose by 11.2% to 2.7Mt.

By revenue, particular decreases were recorded in France, Belgium and Spain. In France and Belgium revenues fell by 10% to Euro319m from Euro354m. In Spain revenues fell by 29% to Euro21.7m from Euro30.5m. In India sales revenues fell by 4% to Euro61.3m from Euro63.9m. A recurring EBITDA decrease in France and Belgium was attributed to bad weather and a fall in CO2 sales. In India it was attributed to a decrease in prices and a negative exchange rate effect.

The group confirmed its projections for 2013, which forecast a maintenance of EBITDA in 2013. Its projections are based on a recovery of some markets and a significant contribution from an improvement in production efficiency and a reduction in overheads.

France: Lafarge's net loss has nearly doubled year-on-year to Euro117m for the first quarter of 2013, from Euro60m in the same quarter in 2012. The multinational building materials producer blamed the result on poor weather, production limitations in Algeria and Egypt and reduced working days in the quarter.

"The first quarter traditionally represents a small proportion of our results and is not indicative of full year trends. Our outlook remains unchanged and we expect to see cement demand growth in our markets of between 1 to 4% in 2013," said chairman and chief executive officer of Lafarge, Bruno Lafont.

Lafarge's cement volume's decreased by 8% year-on-year to 28.7Mt in the first quarter of 2013 from 31.3Mt in the same quarter in 2012. Sales fell by 6% to Euro3.14bn from Euro3.35bn. Earnings before interest, taxes, depreciation and amortisation fell by 26% to Euro380m from Euro511m. However, the company reduced its net debt by 4% to Euro11.8bn from Euro12.4bn.

By region, cement volumes declined by 25% in north America to 1.5Mt from 2Mt, affected by adverse weather. In western Europe cement volumes declined by 24% to 2.9Mt from 3.8Mt, with sales volumes down by higher percentages in Spain and Greece. In central and eastern Europe cement volumes declined by 14% to 1.6Mt from 1.8Mt. In Middle East and Africa cement volumes declined by 10% to 10.1Mt from 11.2Mt, affected by a strong first quarter in 2012 and work stoppages and gas shortages in Algeria and Egypt respectively. Notably, Egypt showed a 31% drop in cement volumes. In Latin America cement volumes fell by 4% to 2.2Mt from 2.3Mt. In Asia, cement volumes rose by 3% to 10.4Mt from 10.2Mt. Notably, Lafarge reported that prices fell due to increased supply in China.

In its outlook the group repeated its aims to reduce net debt below Euro10bn as soon as possible in 2013. Capital expenditures will be limited initially to Euro800m in 2013. Price increases have been actively implemented in most of its markets and Lafarge expects to see benefits from this later in the year.

France: The Vicat Group has reported that its sales for the three months ending 31 March 2013 amounted to Euro491m, a rise of 1.2% year-on-year and a rise of 2.7% at constant scope and exchange rates.

In the cement sector Vicat had sales of Euro256m, a marginal 0.2% increase (3.1% at current scope and exchange rates) on the Euro255m seen in the first quarter of 2012. Vicat sold 4.1Mt of cement during the quarter a year-on-year reported rise of 8%.

In France, Vicat's sales were down by 7.2% year-on-year for the quarter to Euro183m from Euro198m. Cement sales here were down by 14.2%. In Europe (excluding France) sales were stable year-on-year at Euro73m, a slight drop from Euro74m in the same period of 2012. Vicat noted a 14% sales increase in Switzerland but a 12.5% drop in sales in Italy.

In the United States, Vicat's cement sales increased by 13.7% year-on-year, with California seeing the most significant growth at 22%. In Turkey, India and Kazakhstan sales were up by nearly a third to Euro101m. In Turkey they were up by 84% to Euro45m, 10.6% to Euro44m in India and 23.2% to Euro12.4m in Kazakhstan. In Egypt sales fell by 10.6% to Euro22.8m and in west Africa sales were down by 5.1%.

Vicat said it would be able to advance its strong market positions in the rest of 2013. It expects conditions in France to remain difficult, those in Switzerland to remain positive and Italy to recover along with the US. It sees Turkey as continuing its positive cement market development and remains confident about the pospects of the Egyptian industry in the medium to long term. It expects to benefit from the recent launch of its Bharathi Cement plant in India and views its 'ideal' location within Kazakhstan as a great advantage in that growing economy.

France: Ciments Français, a subsidiary of Italcementi Group, has appointed Jean Paul Méric chairman of the board and Fabrizio Donegà as chief operating officer. Outgoing chairman Yves René Nanot, who has reached the statutory age limit, has been nominated honorary chairman of the company and will continue as a director.

Méric, aged 69, studied at the École Polytechnique and the École Supérieure d'Electricité. He began his career with EDF before moving into the cement industry, first with CERILH (Centre d'Études et de Recherches de l'Industrie des Liants Hydrauliques) then Ciments Français in 1985. He became the executive vice-president for Ciments Français in 1991 and was appointed chief operating officer in 2010.

Donegà, aged 49, is a graduate in Mechanical Engineering from Genoa University and a postgraduate in Corporate Finance from Bocconi University (Milan) and Management Development from Harvard Business School (USA). He started his career with Italcementi, first as Technical Assistance Manager in 1990 then as Plant Manager. In 1999 he was appointed manager in charge of Greece and Bulgaria. Since 2007 he has been the executive vice-president of Ciments Français.