On 7 May 2014, Lafarge held its Annual General Meeting at the Carrousel du Louvre in Paris. Under the chairmanship of Bruno Lafont, shareholders approved all resolutions submitted for their vote, including a dividend of €1 per share and a loyalty dividend of €1.10 per share, to be paid on 4 July 2014.
The shareholders' meeting also approved the appointment of Ms Mina Gerowin and Christine Ramon to the Lafarge Board of Directors and renewed the terms of office of Ms Véronique Weill. The shareholders approved the resolution on the elements of compensation due or granted to Mr Bruno Lafont, Chairman and Chief Executive Officer, for the year ended 31 December 2013.
The meeting also provided an opportunity to review the year 2013. Last year, Lafarge achieved its goals with:
- €450 million cost reduction;
- Over €220 million additional EBITDA through our innovation actions;
- A reduction of debt to €10.3 billion through targeted divestment actions (cash flow optimization, control of our investments and our ongoing divestments).
As a result, the Lafarge share price has increased by 13 % in 2013.
With these strong fundamentals, the group reaffirmed its goals for 2014:
- Reduce debt below €9 million.
- Generate additional €600 million EBITDA through innovation and cost reduction programmes.
- Return to a financial structure in line with an "investment grade" profile in 2014.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/08052014/lafarge_celebrates_2013_results_at_agm_159/