Lafarge reported that its sales fell by 4 percent year-on-year to $5.66 billion for the third quarter of 2013 from $5.86 billion for the same period in 2012. The company blamed the results on adverse exchange rates which had a negative impact of 7 percent on both sales and profit indicators such as earnings before interest, taxes, depreciation and amortisation (EBITDA). Lafarge reported that its EBITDA fell by 6 percent year-on-year to $1.4 billion for the third quarter of 2013. Cement volumes remained stable at 36.7Mt.
By business region, cement sales volumes fell in North America, Western Europe, Central and Eastern Europe and Latin America for both the third quarter and the year to date. Lafarge expects that the cement sector will grow at 0 – 3 percent in 2013 compared to 2012 due to market recovery in the U.S., continuing growth in most emerging markets and “stabilization” in Europe. The company intends to reduce its net debt to below $13.3 billion in 2013, and below $12.02 billion in 2014.
