French cement producer
The firm is attributing the reduced turnover to a poor exchange rate and a fall in activity. Turnover fell in all zones except Asia, with the biggest declines seen in France/Belgium, Bulgaria, Spain and Morocco. On a like-for-like basis and at a constant exchange rate, turnover rose in Egypt, Kazakhstan, Kuwait and Thailand.
The group invested some €125 million during H1 2013, while net financial debt fell 4.7% to €808 million. Recurring EBITDA fell 5.2% to €307.3 million, while operating profit fell 7% to €139.2 million. Consolidated net profit stood at €48.4 million, down from €75.8 million a year earlier.
For H2 2013, the group's operating results are expected to be similar to that of the same period of 2012; this is despite unfavourable changes in exchange rates and the negative impact of the absence of CO2 sales. Ciments Français says its operating income will continue to be impacted by the negative effects seen during the first quarter of 2013. The group is set to pay out a dividend of €1.50 per share.
