The 2010 turnover almost matches by value the net income reported in 2008, of around EUR164 million, with turnover hitting EUR369.8 million that year.
“The cement industry is heavily influenced by the weather. 2010
weather conditions were worse than in 2009, the winter was harsher
and this was the main reason behind the turnover decline. At the
same time, the economic situation in general and the situation of
the constructions industry in particular drove revenues down in
2010 compared to 2009,” Philippe Questiaux, Lafarge Ciment CEO,
told ZF.
Lafarge Ciment was in pre-crisis years one of the most profitable
companies, with the profit margin reaching 44% in 2008.
The company expects flat turnover in 2011 compared to last year, as the cement market is expected to stall or rise by 1%-2% at most, according to projections by cement industry association, CIROM.
The French producer pins its hopes on the development of Romanian infrastructure in the following years.
“The weight of infrastructure in the overall cement market is currently quite low (at 10%, according to CIROM i.e.), but it may double next year,” Questiaux said.
On the other hand, the crisis has forced the company to extend by one year, to late 2011, the EUR90 million investment program aimed to boost production capacities, launched in 2008. The company had implemented around 80% by the end of last year.
(EUR1-RON4.216)