PARIS (dpa-AFX) - French cement giant Lafarge SA (LFRGY.PK, LFGEF.PK) posted a wider loss in its first quarter, as sales were impacted by lower volumes, due to extreme weather conditions. However, the group further said it is on track to achieve its full-year target.
The group posted a net loss of 117 million euros, wider than last year's 60 million euros loss. Loss per share widened to 0.41 euros from 0.21 euros.
EBITDA in the quarter was down 26 percent to 380 million euros. Current operating income fell 53 percent to 124 million euros.
For the first quarter, the group's sales slid 6 percent to 3.13 billion euros, with like for like sales down 4 percent.
The group attributed its results to lower volumes reflecting overall harsh weather conditions, temporary production limitations in Algeria and Egypt and two working days less in the quarter representing a third of the volume decline.
Looking ahead, the Group said, it is on track to achieve its target to generate incremental EBITDA of 650 million euros from performance and innovation actions in 2013.
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