Ciments Français sees improvement in Western Europe
Published by Katherine Guenioui,
Editor
World Cement,
Ciments Francais has reported its first quarter results, which show a generally good performance across all markets with the exception of weather-affected North America. In particular, the improvement in the economy of Western Europe was pronounced.
Revenues for the quarter amounted to €807.2 million, down 1.5% y/y due to the negative impact of foreign exchange variations. Taking that out of the equation, revenues were up 2.5%. Recurring EBITDA amounted to €92.7 million, down 17.4% (-13.3% excluding foreign exchange).
Cement and clinker sales volumes improved overall by 1.9% at 9 million t. Sales volumes in Western Europe increased 14.3%, while in Morocco and Egypt sales were relatively stable at +0.1% and +2.8% respectively. In North America, adverse weather conditions led to a 15.3% decrease in sales volumes. Prices were favourable in Thailand (up 9.4%) and Egypt (up 8.3%).
Ciments Français invested €118.6 million in industrial assets over 1Q14, mainly related to activities in India, Bulgaria, France/Belgium and Egypt.
Total equity amounted to €3471.9 million against €3515.4 million at the end of December 2013, bringing the debt to equity ratio to 24.4% compared to 21.3% at the end of last year.Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/09052014/ciments_francais_reports_1q14_results_164/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
