lafarge sa (LG) Snapshot

Lafarge S.A. at its combined shareholders' meeting, which was held on May 7, 2013 approved a dividend of EUR 1 per share and a loyalty dividend of EUR 1.10 per share. The dividend will be paid on July 5, 2013 with an ex-dividend date on July 2, 2013.

Lafarge S.A. reported consolidated earnings results for the first quarter ended March 31, 2013. Sales were €3,136 million against €3,353 million last year. EBITDA was €380 million against €511 million last year. Current operating income was €124 million against €262 million last year. Net loss was €117 million or €0.41 per share against €60 million or €0.21 per share last year. Free cash flow was negative at €297 million against €434 million last year. Net debt was €11,812 million at March 31, 2013 against €12,364 million at the end of first quarter of 2012. First quarter results were affected by 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. Consolidated sales were down 4% at constant scope and exchange rates, as increased prices across all of product lines to address cost inflation partly offset the declines in volumes. At constant scope and exchange rates, EBITDA declined by 19% with performance and innovation actions and improved pricing mitigating the impact of lower volumes and cost inflation. Investments totaled €296 million for the quarter. Sustaining capital expenditures remained stable at €53 million. Development investments amounted to €243 million in the first quarter of 2013, representing investments in on-going new cement plants projects in Russia and India as well as fast-return new grinding capacities in the Philippines, Algeria and Brazil. The group is on track to achieve its target to generate incremental EBITDA of €650 million from performance and innovation actions in 2013. The company will also reduce net debt to below €10 billion as soon as possible in 2013. Capital expenditures will be limited initially to €800 million in 2013. While maintaining debt reduction objective, additional divestments during the rest of the year may lead to an increase in the capex number.

Lafarge S.A., Board Meeting, May 06, 2013. Agenda: To approve the consolidated earnings results for the first quarter ended March 31, 2013.