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CIMENTS FRANCAIS (ISIN : FR0000120982) |
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Ciments Français: The Board of Directors examines results as of September 30, 2009
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(06/11/09 18:28 CET)
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The Board of Directors examines results as of September 30, 2009
- CONSOLIDATED REVENUES: 3,236 million euros (-11.0%)
- RECURRING EBITDA: 721 million euros (-11.2%)
- EBIT: 436 million euros (-22.6%)
- NET CONSOLIDATED GROUP PROFIT: 293 million euros (-20.3%)
- CHANGE IN THE MANAGEMENT STRUCTURE OF THE COMPANY: dissociation in the functions of Chairman and Chief Executive Officer
*****
Paris, November 6, 2009 - At a meeting held on November 4, 2009 chaired by Yves René Nanot, the Board of Directors of Ciments Français (Italcementi Group), examined and approved the unaudited consolidated accounts as of September 30, 2009.
During the first nine months of this fiscal year, the Group sales volumes were down in all three business lines: -10.6% in cement and clinker (35.1 million tonnes), -19.7% in aggregates (29.6 million tonnes) and -21.6% for ready-mix concrete (8.4 million m3). This decrease was particularly noted in mature markets where, the deterioration partly subsided in the last three months. Overall the downturn in sales volumes during Q3 followed the same trend than in H1. Unit prices have increased during the first nine months of 2009 as compared with 2008, but this upturn decreased in Q3.
Consolidated revenues amounted to 3,236 million euros, down 11.0% reflecting the decline in activities (-14.2%), partly mitigated by the positive exchange rate (+2.0%) and consolidation effects (+1.2%). Revenues increased in "Eastern Europe and Southern Med rim" thanks to a significant increase in Egypt and a moderate one in Morocco, and in spite of a marked decrease in Turkey and Bulgaria. However, all Western European countries, North America and Trading underwent a serious decrease. The downturn in revenues has been less visible in Asia due to an increase in China and Kazakhstan offsetting the decrease of Thailand and India where overcapacities have appeared.
Revenues decrease (-14.8%) in Q3 is stronger than in H1 (-9.0%).
In the first nine months, recurring EBITDA amounts to 720.9 million euros (-11.2%). The controlled decrease is due to a significant reduction of operating expenses. Savings generated by the lower fuel costs have materialized mainly in Q3 and the Group continued to benefit from the measures initiated at the end of the previous fiscal year to contain fixed costs and boost production efficiency.
EBIT amounted to 435.8 million euros, down 22.6 % compared with 2008, taking into account non recurring net expenditures amounting to 5 million euros, and recognition of impairment losses - mainly in Thailand - reaching 20.4 million euros.
Net finance costs decreased by 18.1% compared with the same period of 2008, mainly due to the decrease in interest rates. Income taxes were down by 32.4%.
In the first nine months of this fiscal year, the Group reported a consolidated net profit of 293.2 million euros, down 20.3%. The share attributable to equity holders of the parent totalled 212.5 million euros (-26.5%).
At the end of September, investments in industrial and financial fixed assets totalled 471.0 million euros (+9.3% against end of September 2008).
Net financial debt as of 30 September 2009 amounted to 1,659.5 million euros against 1,858.5 million euros as of 30 June 2009 and total equity was 3,791.4 million euros. The gearing ratio was 43.8% against 50.1% as of 30 June 2009.
Besides, the Board of Directors of the Group decided to modify the managing method of the Group and to dissociate the functions of Chairman and those of Chief Executive Officer as of January 1st, 2010.
The Board confirmed Mr Yves René Nanot as Chairman of the Board of Directors as of January 1st, 2010 and nominated Mr Giovanni Ferrario as Chief Executive Officer (presently President/Chief Operating Officer). On the proposal from the latter, Mr Jean-Paul Méric is appointed Chief Operating Officer (presently Executive Vice President) from the same date.
Yves René Nanot, 72, "Arts et Métiers" engineer and Chairman and Chief Executive Officer of Ciments Français since 1993. He led the Ciments Français re-structuring in the early 1990s and the company's international re-positioning that, after 1997, enabled the Italcementi Group to put its international operations on a footing geared to strong expansion in the emerging countries offering the best growth potential. During this long period he was involved in the Paris and Bergamo management organization projects, contributing to the formation of a strong, close-knit and competent team.
Yves René Nanot has been a member of the Italcementi Board of Directors since 1993 and a member of the Executive Committee since 1998.
Business trend
Third quarter
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Sales and internal transfers (1) | Cement & clinker | | | Aggregates | | |Ready-mixed concrete | | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| |(millions of tonnes) | | |(millions of tonnes) | | | (millions of m3) | | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| | 2009 |% change vs. | | 2009 |% change vs. | | 2009 |% change vs. | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| | | 2008 | | | 2008 | | | 2008 | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| | | A | B | | A | B | | A | B |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Western Europe | 2.6 | -12.5 |-12.5 | 8.7 | -20.3 |-20.3 | 1.5 | -16.0 |-17.7 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|North America | 1.2 | -24.0 |-24.0 | 0.2 | +24.0 |+24.7 | 0.2 | -25.5 |-27.3 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Eastern Europe & Southern Med rim | 4.9 | -5.5 | -5.5 | 0.7 | -6.3 | -6.0 | 0.9 | -25.1 |-25.1 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Asia | 2.7 | -15.6 |-15.6 | 0.1 | -39.7 |-39.7 | 0.2 | -36.2 |-36.2 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Cement & clinker trading | 1.2 | -26.7 |-26.7 | - | - | - | 0.1 | +25.6 |-11.2 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Eliminations | (0.6) | - | - | - | - | - | - | - | - |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Total | 12.0 | -10.9 |-10.9 | 9.7 | -19.1 |-19.1 | 2.9 | -19.8 |-21.8 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
Western Europe: France, Belgium, Spain, Greece
North America: U.S.A., Canada, Puerto Rico
Eastern Europe & Southern Med rim: Egypt, Morocco, Bulgaria, Turkey
Asia: Thailand, India, Kazakhstan, China
(1) Amounts given relate to fully consolidated companies and companies consolidated using the proportionate consolidation method up to Group share;
A: at historic consolidation scope
B: at comparable consolidation scope
FIRST NINE MONTHS, CUMULATIVE FIGURES
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Sales and internal transfers (1) | Cement & clinker | | | Aggregates | | |Ready mixed concrete | | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| |(millions of tonnes) | | |(millions of tonnes) | | | (millions of m3) | | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| | 2009 |% change vs. | | 2009 |% change vs. | | 2009 |% change vs. | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| | | 2008 | | | 2008 | | | 2008 | |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
| | | A | B | | A | B | | A | B |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Western Europe | 7.9 | -14.0 |-14.0 | 26.9 | -20.6 |-20.6 | 4.6 | -20.2 |-21.6 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|North America | 3.0 | -26.9 |-26.9 | 0.4 | +29.8 |+14.3 | 0.6 | -23.3 |-26.7 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Eastern Europe & Southern Med rim | 14.8 | -5.4 | -5.4 | 1.9 | -8.2 | -6.4 | 2.5 | -27.3 |-27.3 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Asia | 7.9 | -8.9 | -8.9 | 0.4 | -36.4 |-36.4 | 0.4 | -35.5 |-35.5 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Cement & clinker trading | 3.1 | -31.1 |-31.1 | - | - | - | 0.3 | +184.4 | +9.7 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Eliminations | (1.6) | - | - | - | - | - | - | - | - |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
|Total | 35.1 | -10.6 |-10.6 | 29.6 | -19.7 |-19.7 | 8.4 | -21.6 |-23.8 |
+----------------------------------+---------------------+-------------+------+---------------------+-------------+------+---------------------+-------------+------+
Western Europe: France, Belgium, Spain, Greece
North America: U.S.A., Canada, Puerto Rico
Eastern Europe & Southern Med rim: Egypt, Morocco, Bulgaria, Turkey
Asia: Thailand, India, Kazakhstan, China
(1) Amounts given relate to fully consolidated companies and companies consolidated using the proportionate consolidation method up to Group share;
A: at historic consolidation scope
B: at comparable consolidation scope
REVENUES TREND
Third quarter
+------------------------------------+--------+--------+-----------------+-------+
| Revenues |Q3 2009 |Q3 2008 |Change 2009/2008 | |
+------------------------------------+--------+--------+-----------------+-------+
| | (ME) | | (ME) | % |
+------------------------------------+--------+--------+-----------------+-------+
|France/Belgium | 376.2 | 432.4 | (56.1) |-13,0% |
+------------------------------------+--------+--------+-----------------+-------+
|Spain | 60.2 | 74.9 | (14.7) |-19,6% |
+------------------------------------+--------+--------+-----------------+-------+
|Greece | 20.6 | 25.0 | (4.3) |-17,3% |
+------------------------------------+--------+--------+-----------------+-------+
|Intra-areas eliminations | (3.5) | (4.9) | 1.4 |-29,1% |
+------------------------------------+--------+--------+-----------------+-------+
|Western Europe | 453.6 | 527.3 | (73.7) |-14,0% |
+------------------------------------+--------+--------+-----------------+-------+
|North America | 122.1 | 150.5 | (28.3) |-18,8% |
+------------------------------------+--------+--------+-----------------+-------+
|Egypt | 184.6 | 167.2 | 17.4 | 10,4% |
+------------------------------------+--------+--------+-----------------+-------+
|Morocco | 76.4 | 79.7 | (3.3) | -4,1% |
+------------------------------------+--------+--------+-----------------+-------+
|Bulgaria | 24.0 | 44.8 | (20.7) |-46,3% |
+------------------------------------+--------+--------+-----------------+-------+
|Turkey | 38.8 | 62.3 | (23.5) |-37,7% |
+------------------------------------+--------+--------+-----------------+-------+
|Intra-areas eliminations | 0.0 | 0.0 | 0.0 | - |
+------------------------------------+--------+--------+-----------------+-------+
|Eastern Europe and Southern Med rim | 323.8 | 353.9 | (30.1) | -8,5% |
+------------------------------------+--------+--------+-----------------+-------+
|Thailand | 41.9 | 52.7 | (10.8) |-20,5% |
+------------------------------------+--------+--------+-----------------+-------+
|India | 40.6 | 48.2 | (7.7) |-15,9% |
+------------------------------------+--------+--------+-----------------+-------+
|China | 10.4 | 9.8 | 0.6 | 5,7% |
+------------------------------------+--------+--------+-----------------+-------+
|Kazakhstan | 12.3 | 12.0 | 0.3 | 2,7% |
+------------------------------------+--------+--------+-----------------+-------+
|Intra-areas eliminations | 0.0 | 0.0 | 0.0 | - |
+------------------------------------+--------+--------+-----------------+-------+
|Asia | 105.2 | 122.8 | (17.6) |-14,3% |
+------------------------------------+--------+--------+-----------------+-------+
|Tradig ciment/clinker, Koweit | 69.9 | 94.6 | (24.7) |-26,1% |
+------------------------------------+--------+--------+-----------------+-------+
|Other (1) | 53.8 | 96.8 | (43.0) |-44,4% |
+------------------------------------+--------+--------+-----------------+-------+
|Inter-areas eliminations | (66.2) | (98.9) | 32.7 |-33,0% |
+------------------------------------+--------+--------+-----------------+-------+
|TOTAL GROUP |1,062.2 |1,246.9 | (184.8) |-14,8% |
+------------------------------------+--------+--------+-----------------+-------+
| | | | | |
+------------------------------------+--------+--------+-----------------+-------+
(1) Other = fuel trading + headquarters
FIRST NINE MONTHS, CUMULATIVE FIGURES
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
| Revenues (ME) |Q3 2009 |Q2 2009 |Q1 2009 |Q3 cumu- lative 2009 |Q3 2008 |Q2 2008 |Q1 2008 |Q3 cumu- lative 2008 |Change Q3 cumulative 2009/2008 | |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|France/Belgium | 376.2 | 436.1 | 359.7 | 1,172.0 | 432.4 | 487.3 | 433.7 | 1,353.4 | (181.4) |-13.4% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Spain | 60.2 | 58.2 | 56.7 | 175.1 | 74.9 | 79.9 | 81.8 | 236.5 | (61.5) |-26,0% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Greece | 20.6 | 21.2 | 19.2 | 61.0 | 25.0 | 23.7 | 23.7 | 72.3 | (11.3) |-15.7% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Intra-areas eliminations | (3.5) | (3.3) | (3.5) | (10.2) | (4.9) | (4.2) | (4.4) | (13.4) | 3.2 |-23.6% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Western Europe | 453.6 | 512.2 | 432.0 | 1,397.8 | 527.3 | 586.7 | 534.9 | 1,648.9 | (251.0) |-15.2% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|North America | 122.1 | 115.3 | 74.5 | 312.0 | 150.5 | 141.3 | 87.0 | 378.7 | (66.7) |-17.6% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Egypt | 184.6 | 199.6 | 218.1 | 602.2 | 167.2 | 157.3 | 154.5 | 479.0 | 123.2 | 25.7% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Morocco | 76.4 | 86.2 | 80.4 | 243.0 | 79.7 | 85.0 | 69.9 | 234.6 | 8.5 | 3.6% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Bulgaria | 24.0 | 33.5 | 26.7 | 84.3 | 44.8 | 48.8 | 33.2 | 126.7 | (42.4) |-33.5% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Turkey | 38.8 | 38.0 | 22.8 | 99.6 | 62.3 | 67.1 | 44.7 | 174.2 | (74.6) |-42.8% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Intra-areas eliminations | 0.0 | (0.3) | 0.0 | (0.3) | 0.0 | (0.4) | 0.0 | (0.4) | 0.2 |-40.9% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Eastern Europe and Southern Med rim | 323.8 | 357.0 | 348.0 | 1,028.8 | 353.9 | 357.7 | 302.4 | 1,014.0 | 14.8 | 1.5% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Thailand | 41.9 | 35.6 | 43.4 | 121.0 | 52.7 | 44.4 | 57.1 | 154.2 | (33.3) |-21.6% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|India | 40.6 | 45.8 | 49.4 | 135.8 | 48.2 | 48.8 | 45.7 | 142.8 | (7.0) | -4.9% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|China | 10.4 | 12.1 | 11.7 | 34.2 | 9.8 | 7.0 | 3.6 | 20.5 | 13.7 | 66.9% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Kazakhstan | 12.3 | 10.2 | 3.3 | 25.8 | 12.0 | 8.4 | 0.0 | 20.5 | 5.3 | 25.9% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Intra-areas eliminations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | - |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Asia | 105.2 | 103.6 | 107.9 | 316.7 | 122.8 | 108.7 | 106.6 | 338.0 | (21.3) | -6.3% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Trading ciment and clinker, Koweit | 69.9 | 66.8 | 57.7 | 194.4 | 94.6 | 91.5 | 74.0 | 260.0 | (65.6) |-25.2% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Other (1) | 53.8 | 52.1 | 64.0 | 169.9 | 96.8 | 99.6 | 73.0 | 269.4 | (99.5) |-36.9% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|Inter-areas eliminations | (66.2) | (59.7) | (57.8) | (183.6) | (98.9) | (89.9) | (83.2) | (272.1) | 88.5 |-32.5% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
|TOTAL GROUP |1,062.2 |1,147.4 |1,026.4 | 3,236.0 |1,246.9 |1,295.5 |1,094.5 | 3,636.9 | (400.9) |-11,0% |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
| | | | | | | | | | | |
+------------------------------------+--------+--------+--------+---------------------+--------+--------+--------+---------------------+-------------------------------+-------+
(1) Other = fuel trading + headquarters
OUTLOOK
In the last quarter, the general trend for consolidated sales volumes remain down, with a slight price erosion, the effect of which is partly offset by the continuation of efforts to reduce costs and boost production efficiency.
This should lead to a decrease in the operating profit as compared with last year, following the trend of the first nine months.
Reversely, the operational cash flow and the lower need in working capital will be used to finance the large amount required for industrial and strategic investments to be launched at the beginning of 2010, without worsening the end of year net debt, as compared with that of the end of Q3.
*****
The results for the third quarter of 2009 of Italcementi and Ciments Français will be illustrated during a Conference Call on Monday November 9, 2009 at 15:30. The presentation will be broadcast in audio streaming on the italcementigroup.com and cimfra.com websites.
*****
ON THE INTERNET: www.cimfra.com & www.italcementigroup.com
Ciments Français
Media Relations
Tel: + 33 (0)1 42 91 76 87
Ciments Français
Investor Relations
Tel: +33 (0)1 42 91 76 76
DISCLAIMER
This release may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding the Company's results or any other performance indicator, but rather trends or targets, as the case may be. These statements are by their nature subject to risks and uncertainties as described in the Company's annual report available on its Internet website (www.cimfra.com). These statements do not reflect future performance of the Company, which may materially differ. The Company does not undertake to provide updates of these statements.
Appendix
Ciments Français Group Year-to-date Income Statement
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
| (millions of euros) |30 September | |30 September 2008 * | |% change |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
| | 2009 | | | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
| | Amounts | % | Amounts | % | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Revenues | 3,236.0 |100.0 | 3,636.9 |100.0 | -11.0 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Other revenues | 12.7 | | 23.5 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Change in inventories | (41.3) | | 8.4 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Internal work capitalized | 12.7 | | 12.7 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Goods and utilities expense | (1,202.2) | | (1,476.3) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Service expense | (709.4) | | (814.4) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Employee expense | (476.4) | | (473.4) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Other operating income (expense) | (111.2) | | (105.8) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Recurring EBITDA | 720.9 | 22.3 | 811.6 | 22.3 | -11.2 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Other income | 3.5 | | 4.7 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Other expense | (8.5) | | (3.9) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|EBITDA | 715.9 | 22.1 | 812.4 | 22.3 | -11.9 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Amortization and depreciation | (260.0) | | (249.2) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Impairment | (20.1) | | 0.0 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|EBIT | 435.8 | 13.5 | 563.2 | 15.5 | -22.6 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Finance income | 17.7 | | 20.8 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Finance costs | (70.1) | | (91.7) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Gains (losses) on exchange rates and changes in fair value of derivatives | (6.7) | | (1.2) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Finance income (costs) | (59.1) | | (72.1) | | -18.1 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Share of results of associates | 11.7 | | 17.8 | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Profit before tax | 388.4 | 12.0 | 508.9 | 14.0 | -23.7 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Tax | (95.2) | | (140.9) | | |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|Net consolidated Group profit | 293.2 | 9.1 | 368.0 | 10.1 | -20.3 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|- Attributable to equity holders of Group parent | 212.5 | 6.6 | 289.3 | 7.9 | -26.5 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
|- Attributable to non-controlling interests (minority interests) | 80.7 | 2.5 | 78.7 | 2.2 | 2.4 |
+--------------------------------------------------------------------------+-------------+------+--------------------+------+---------+
* IFRS 5 & IAS 23 revised restated.
Ciments Français Group Year-to-date Consolidated Statement of Comprehensive Income
+----------------------------------------------------------------+------------------+------------------+-----------------+
| (millions of euros) |30 September 2009 |30 September 2008 |2009/2008 change |
+----------------------------------------------------------------+------------------+------------------+-----------------+
| | Amounts | Amounts | % |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Net profit for the period | 293.2 | 368.0 | -20.3 |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Fair value adjustments to: | | | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|§ Available-for-sale financial assets | 13.5 | (119.8) | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|§ Derivative financial instruments | (29.9) | 3.9 | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Currency translation derivatives | (94.9) | (18.2) | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Income tax relating to other components of comprehensive income | 9.9 | 13.6 | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Other components of comprehensive income | (101.4) | (120.5) | -15.9 |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Total comprehensive income for the period | 191.8 | 247.5 | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|Attributable to: | | | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|- Equity holders of Group parent | 142.6 | 159.0 | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
|- Non-controlling interests (minority interests) | 49.2 | 88.5 | |
+----------------------------------------------------------------+------------------+------------------+-----------------+
Financial position
+--------------------+------------------+--------+-----------------+-------------------+
| |30 September 2009 |30 June |31 December 2008 |30 September 2008* |
+--------------------+------------------+--------+-----------------+-------------------+
|(millions of euros) | | 2009 | | |
+--------------------+------------------+--------+-----------------+-------------------+
|Net financial debt | 1,659.5 |1,858.5 | 1,721.8 | 1,622.7 |
+--------------------+------------------+--------+-----------------+-------------------+
|Total equity | 3,791.4 |3,709.4 | 3,757.3 | 3,766.1 |
+--------------------+------------------+--------+-----------------+-------------------+
* IAS 23 revised restated
Copyright Hugin
The appendixes relating to the press release are available on:
http://www.hugingroup.com/documents_ir/PJ/CO/2009/160155_88_5T38_CFRESULTSQ32009UKFINAL.pdf
Information réglementée :
Type : Nouvelle information
Thème(s):
Communiqués au titre de l'obligation d'information permanente - Communiqué sur comptes, résultats, chiffres d'affaires
This announcement is originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
[CN#160155]
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Fonte : CIMENTS FRANCAIS
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Fornec. : Hugin
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