EduBourseActualitésCiments Francais : Results on the rise

Ciments Francais : Results on the rise

Paris, November 4, 2005 – The Board of Directors of Ciments Français, chaired by Yves René Nanot, met on November 3, 2005 to review the consolidated financial statements at September 30, 2005.
These non-audited financial statements were drawn up in accordance with the IFRS and the Group’s accounting principles.

CONSOLIDATED REVENUES

Consolidated revenues at September 30, 2005, amounted to €2,657.2 million, a 14.5% increase compared to the first nine months of 2004, i.e. a 7.8% increase on a like-for-like basis.

The favourable currency translation effect amounted to +0.7% (€17.1 million), as the gain of the Turkish lira against the Euro was higher than the decline in the Dollar.
The also positive impact of changes in the scope of consolidation amounted to +5.9% (€138.2 million), resulting from the full consolidation of Suez Cement from April 1, 2005, and of ASEC Cement from August 1, 2005, despite the late 2004 disposal of minor construction materials activities in France.

First nine months of
In € millions 2005 2004
IFRS restated % change
2005 vs. 2004 % change
2005 vs. 2004
(1)
BREAKDOWN BY GEOGRAPHIC AREA
European Union 1,383.9 1,345.9 2.8 3.5
North America 447.7 416.3 7.6 10.8
Asia 183.6 167.5 9.6 11.1
Mediterranean basin (2) 527.5 308.7 70.9 15.2
Trading 114.4 82.5 38.7 39.9
TOTAL 2,657.2 2,320.8 14.5 7.8
BREAKDOWN BY BUSINESS SEGMENT
Cement and Clinker 1,791.1 1,515.2 18.2 8.9
Aggregates / Ready-mixed concrete 790.3 746.6 5.9 5.5
Other 75.8 59.0 28.5 8.7
TOTAL 2,657.2 2,320.8 14.5 7.8
(1) On a like-for-like basis
(2) Morocco, Turkey, Bulgaria, Egypt.
The increase in volumes at the end of the first half-year period was confirmed in the third quarter in the three business segments despite a slowdown in cement sales on domestic markets in North America and Asia (Thailand in particular).

At the end of September, consolidated revenues increased in every country except Greece and also profited from globally positive price trends.

CONSOLIDATED FINANCIAL STATEMENTS

First nine months of
In € millions 2005 2004
IFRS restated %
change
Revenues 2,657.2 2,320.8 14.5
Gross operating profit 687.1 602.8 14.0
Operating profit 493.1 444.0 11.1
Net profit for the period 330.8 278.5 18.8
of which attributable to equity holders of the parent 294.9 249.7 18.1

Gross operating profit for the third quarter amounted to €291.3 million, a sharp increase compared to 2004 (+28.6%) and also rose significantly at the end of September (+14.0%) due to the impact of the consolidation of Egyptian operations and to a globally positive business trend.

Net profit, also benefiting from a reduction in financial expenses and a lower tax burden, amounts to €143.9 million for the quarter and to €330.8 million for the nine-month period ended September 30, with significant increases of +32.6% and +18.8% respectively.

Net financial debt after the very high capital expenditure and financial investments over the period of €834 million amounted to €1,884.5 million at September 30, 2005, compared to €1,215.0 million at January 1, 2005 under IFRS.

OUTLOOK

The globally positive business trend at the end of September should continue in the final quarter and should, excluding Egyptian operations, generate operating profits in line with those achieved the year before.

The consolidation of Egyptian operations will ensure a significant improvement in 2005 results compared to 2004.

A conference call concerning the results for the nine months ended September 30, 2005 will be organized on Monday, 7 November at 3:30 pm.

On the internet :

Ciments Français : www.cimfra.com
Italcementi : www.italcementigroup.com

Ciments Français
Tel : +33(0)1 42 91 75 00

Investor Relations:
Tel : +33(0)1 42 91 76 76
Media Relations:
Tel : +33(0)1 42 91 76 87

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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