We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lion Film Group | BIT:LFG | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.03 | 1.96% | 1.56 | 1.50 | 1.65 | 1.56 | 1.56 | 1.56 | 1,800 | 16:40:00 |
RNS Number:4813K Lafarge 29 April 2003 Lafarge first quarter 2003 sales * Sales at constant scope and foreign exchange down by 2.3% * Euro appreciation results in 10.1% negative foreign exchange impact Headline sales in the first quarter 2003 declined 14.4% to Euro 2,691 million from Euro 3,145 million with underlying sales slipping by 2.3% and a significant foreign currency fluctuation impacting sales by 10.1%. The net scope effect on sales amounted to -2% largely as a consequence of the divestments realized in 2002. Commenting on these sales Bertrand Collomb Chairman and CEO stressed that: "The seasonal nature of our businesses often leads to variations in sales in the first quarter of the year, as market demand is reliant on clement weather conditions. In the first quarter of 2002, we reported strong sales due to record mild temperatures, while winter conditions in 2003 were extreme in many countries. We remain therefore cautious at the beginning of the year about establishing any trends for sales for the remainder of the year." He also outlined that: "In an economic environment which is still uncertain, our priority for 2003 remains to focus on our performance improvement programs, to return to a 2000-like financial structure, and to reduce our debt by Euro 1 billion, excluding foreign exchange variations." The sales report for each Division, excluding foreign exchange, scope effects, and before inter divisional sales elimination is as follows: CEMENT: -3.4% Compared to the record first quarter achieved in 2002, lower sales were reported in several markets mostly due to reduced volumes in the first quarter 2003. Severe winter weather conditions had a major impact on the construction market in a number of countries, particularly in the northern hemisphere, with volumes being significantly lower in France, Greece, North America, Poland and Romania. Strong growth in volumes was recorded in Spain. Morocco and Kenya. Difficult macroeconomic conditions and political situations affected sales in Venezuela, Turkey and Nigeria. Overall prices were stable across the Division. Brazil improved significantly due to favorable pricing trends. Prices increased in many of our African operations. Favorable trends were achieved in South Korea and India. Very weak areas for prices remain Egypt, the Philippines and Germany where severe price competition compounded by the poor construction market continues to impact sales. AGGREGATES & CONCRETE: -0.6% The slight decline in sales was largely attributable to the winter weather conditions experienced in France and North America. Pricing trends were favorable in both aggregates and concrete across the Division. ROOFING: -3.2% Sales in Western Europe suffered from the harsh winter, but also from a weaker level of demand in France and in Germany for concrete tiles in particular. Sales in the UK, Scandinavia and Italy recorded positive trends. In the United States sales continued to grow strongly with favorable conditions in many markets. Sales of roofing components continued to increase. GYPSUM:+1-3% The increase in sales was due to overall positive growth in Western Europe and Asia. In North America, after record sales in the first quarter of 2002, sales were down in North America due to winter conditions, also impacting production in the North East. Pricing in North America was 2% up compared to the same period of last year. NEGATIVE FOREIGN EXCHANGE IMPACT OF -10.1% AMOUNTING TO Euro 332 MILLION The effect of foreign currency fluctuations on the first quarter 2003 sales was particularly significant. The strong appreciation of the euro in the second half of 2002 and further in the first quarter of 2003 has had a material translation impact on sales generated in the following currencies: US Dollar (Euro 124 million), Canadian dollar (Euro 23 million), Brazilian real (Euro 34million), Sterling Pound (Euro 29million), and the Malaysian ringgit (Euro 23 million). SCOPE CHANGES OF -2% AMOUNTING TO Euro 59 MILLION The sales in the first quarter resulting from acquisitions amounted to Euro 50 million. Divestments and the change in consolidation method of Morocco resulted in a reduction in sales of Euro 109 million. CONSOLIDATED SALES AS AT MARCH 31, 2003 At constant scope At constant scope and foreign March 31,2003 March 31, 2002 and foreign exchange, before Euro Million Euro Million Variation exchange inter divisional sales elimination Cement 1,299 1,593 -18.5% -4.2% -3.4% Aggregates & Concrete 796 911 -12.7% -0.5% -0.6% Roofing 279 298 -6.4% -3.2% -3.2% Gypsum 295 298 -1% +1.3% +1.3% Others 22 45 -50.2% +8.4% +8.4% TOTAL 2,691 3,145 -14.4% -2.3% NA Lafarge is the world leader in building materials, and employs 77,000 people in 75 countries. The Group holds top-ranking positions in all four of its Divisions: Cement, Aggregates & Concrete, Roofing and Gypsum. Lafarge posted sales of Euro14.6 billion in 2002. More information is available on: www.lafarge.com Lafarge's next financial publication - 2003 half year sales - will be on July 24 2003 (before the Euronext stock market opens). For release worldwide with contemporaneous release in the United States. PRESS CONTACTS: INVESTOR RELATIONS: Denis Boulet 33-1 44-34-94-14 James Palmer: 33-1 44-34-11-26 Denis.boulet@lafarge.com james.palmer@lafarge.com Veronique Doux: 33-1 44-34-19-47 Daniele Daouphars: 33-1 44-34-11 -51 Veronique.doux@lafarge.com daniele.daouphars@lafarge.com LAFARGE Statements made in this press release that are not historical facts are forward- looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions ("Factors") which are difficult to predict. Some of the Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the cyclical nature of the Company's business; national and regional economic conditions in the countries in which the Group does business; currency fluctuations; seasonal nature of the Company's operations; levels of construction spending in major markets; supply/demand structure of the industry; competition from new or existing competitors; unfavorable weather conditions during peak construction periods; changes in and implementation of environmental and other governmental regulations; our ability to successfully identify, complete and efficiently integrate acquisitions; our ability to successfully penetrate new markets; and other Factors disclosed in the Company's Reference Document COB number R03-0375 and on Form 20-F filed with the Securities and Exchange Commission in the USA. In general, the Company is subject to the risks and uncertainties of the construction industry and of doing business throughout the world. The forward-looking statements are made as of this date and the Company undertakes no obligation to update them, whether as a result of new information, future events or otherwise. 2003:1st Quarter Sales Conference Call Following the release of Lafarge's 1st quarter sales, a conference call will be held on: April 29, 2003 at 15:30 French time. In English (14:30 UK time; 09:30AM EDT in North America) The speakers will be: Jean-Jacques Gauthier - Chief Financial Officer James Palmer - Vice-President Investor Relations Daniele Daouphars - Investor Relations If you wish to participate in the conference call, please dial: From France +33 (0) 1 56 38 35 35 From UK +44 208 515 23 22 From USA +1 303 205 00 33 From USA toll free +1 800 257 70 63 Conference call name: "Lafarge" A replay of the conference call will be available from April 29 until May 9 at the following numbers: Telephone Code From France +33 (0) 1 40 50 20 20 8954# From UK +44 208 797 24 99 896986# From USA +1 303 590 30 00 536477# From USA toll free +1 800 405 22 36 536477# Consolidated Figures Sales (Millions of euros) 2003Q1 2002Q1 03/02 By geographical zone of destination Western Europe 1 283 1 392 -8% Central and Eastern Europe 90 89 1% Emerging Mediterranean 95 144 -34% North America 575 741 -22% Latin America & the Caribbean 146 208 -30% Sub Saharan Africa/Indian Ocean /Other: 205 217 -6% Asia/Pacific 297 354 -16% By business line Cement 1 299 1 593 -18% Aggregates & Concrete 796 911 -13% Roofing 279 298 -6% Gypsum 295 298 -1% Others 22 45 -51% Total 2691 3 145 -14% CEMENT Volumes by destination (adjusted for the contributions of our proportionally consolidated subsidiaries) (millions of tonnes) 2003Q1 2002Q1 03/02 Western Europe 6.6 7.6 -13% Central and Eastern Europe 1.1 1 5% Emerging Mediterranean 1.8 2.1 -14% North America 2.7 2.9 -8% Latin America & the Caribbean 1.5 1.7 -11% Sub Saharan Africa/Indian Ocean 2.6 2.5 8% Asia/Pacific 5.3 5 6% Total 21.6 22.8 -5% Sales after elimination of inter divisional sales by geographical zone of destination (Millions of euros) 2003Q1 2002Q1 03/02 Western Europe 471 544 -13% Central and Eastern Europe 49 46 7% Emerging Mediterranean 79 119 -34% North America 212 288 -26% Latin America & the Caribbean 99 145 -32% Sub Saharan Africa/Indian Ocean 175 194 -10% Asia/Pacific 214 257 -17% Total consolidated sales 1 299 1 593 -18% Sales before elimination of inter divisional sales by origin (Millions of euros) 2003Q1 2002Q1 03/02 Like for like Western Europe 524 598 -12% -3% Central and Eastern Europe 53 47 13% -6% Emerging Mediterranean 71 117 -39% -8% North America 242 315 -23% -7% Latin America & the Caribbean 112 164 -32% 1% Sub Saharan Africa/Indian Ocean 202 216 -6% 7% Asia/Pacific 208 259 -20% -3% Total before elimination of 1 412 1 714 -18% -3.4% intra-company sales Total consolidated sales 1 299 1 593 -18% -4.2% AGGREGATES & CONCRETE Volumes by destination (adjusted for the contributions of our proportionally consolidated subsidiaries) Aggregates (million tonnes) 2003Q1 2002Q1 03/02 Western Europe 16.8 17.4 -3% North America 14 14.4 -3% Other countries 3.3 3.1 8% Total 34.1 34.9 -2% Concrete (million of obm) 2003Q1 2002Q1 03/02 Western Europe 3.3 3.7 -11% North America 1.8 1.8 -2% Other countries 2.1 2.3 -9% Total 7.2 7.6 -8% Sales after elimination of inter divisional sales by geographical zone of destination (Millions of euros) 2003Q1 2002Q1 03/02 Aggregates & related products 295 325 -9% Ready-mix concrete & concrete products 501 586 -15% Total Aggregate & Concrete 796 911 -13% of which Western Europe 418 437 -4% " North America 279 351 -21% " Other countries 98 123 -20% Sales before elimination of inter divisional sales by origin (Millions of euros) 2003Q1 2002Q1 03/02 Like for like Aggregates & related products 298 330 -10% -0.1% Ready-mix concrete & concrete products 501 587 -15% -0.7% Total Aggregate & Concrete 799 917 -13% -0.6% (bef elim of intra-comp.sales) of which Western Europe 421 440 -4% " North America 280 353 -21% " Other countries 98 124 -21% Total Aggregates & Concrete (consolidated) 796 911 -13% -0.5% ROOFING Volumes by destination (adjusted for the contributions of our proportionally consolidated subsidiaries) 2003Q1 2002Q1 03/02 Concrete roof tiles (millions of sqm) Western Europe 12.2 12.8 -5% North America 4.4 4.1 7% Other Countries 7.1 8.3 -14% Clay roof tiles Europe (millions of sqm) 4.8 4.9 -2% Chimneys (millions of kms) 479 529 -9% Sales (after elimination of inter divisional sales by origin) (Millions of euros) 2003Q1 2002Q1 03/02 Like for like Total 279 298 -6% -3.2% of which concrete roof tiles Western Europe 95 103 -8% " North America 24 28 -12% Other countries 22 27 -19% of which clay roof tiles 50 50 0% of which chimneys 29 31 -7% of which other roofing products 59 59 0% GYPSUM Volumes of gypsum wallboard (adjusted for the contributions of our proportionally consolidated subsidiaries) (millions of sqm) 2003Q1 2002Q1 03/02 Total 151 141 7% Sales (after elimination of intra-divisional sales by origin) (Millions of euros) 2003Q1 2002Q1 03/02 Like for like Total 295 298 -1% 1.3% of which Western Europe 168 153 10% of which North America 53 66 -20% of which Other countries 74 79 -6% Sales variance analysis by region and in major markets* Price, product, customer & other Activity variation Volume effect mix effect vs 2002 % % % CEMENT Western Europe -2 -1 -3 France -9 6 -3 UK -1 1 0 Spain 11 3 14 Germany 13 -38 -25 Greece -12 6 -6 Central Europe -3 -4 -6 Poland -26 3 -23 Romania -19 13 -7 Mediterranean Basin -6 -2 -8 Turkey -27 -12 -38 Morocco 15 4 18 Jordan -8 1 -8 Egypt 14 -30 -16 North America -8 1 -7 South America, Caraibs -4 5 1 Brazil 3 26 29 Venezuela -43 -9 -52 Chile -4 10 6 Africa, Indian Ocean 3 4 7 Kenya 14 3 16 Nigeria -11 6 -5 South Africa -9 15 6 Asia, Middle East 2 -5 -3 Malaysia -2 -7 -9 Philippines 18 -33 -15 India -12 10 -2 South Korea 3 9 12 Total CEMENT -4 0 -3 AGGREGATES France -4 1 -3 UK (Pure Aggregates)(1) -15 13 -2 North America (Pure Aggregates) -3 3 -1 Total Aggregates -4 4 0 READYMIX France -8 4 -4 UK -5 9 4 North America 0 2 1 Total Readymix -4 3 -1 (1) UK sales impacted by aggregates levy. Price effect without aggregates levy was 3%) * Variance on like for like sales before elimination of sales between Divisions Sales variance analysis by region and in major markets* Price, product, customer & other Activity variation Volume effect mix effect vs 2002 % % % ROOFING Western Europe Concrete T&F -6 -2 -8 Western Europe Clay T&F -2 3 1 UK Concrete 3 -3 0 Clay -9 10 1 France Concrete -15 0 -14 Clay -13 6 -7 Germany Concrete -11 -4 -15 Clay 30 -9 21 United States (Concrete) 7 1 8 Chimneys -10 4 -6 Accessories 10 TOTAL ROOFING -6 3 -3 GYPSUM BOARDS Western Europe -3 7 4 North America -9 2 -8 Asia/Pacific 14 -1 13 TOTAL GYPSUM -2 3 1 * Variance on like for like sales before elimination of sales between Divisions This information is provided by RNS The company news service from the London Stock Exchange END MSCSEWSWUSDSEIL
1 Year Lion Film Chart |
1 Month Lion Film Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions