The Lafarge Group posted sales of 2,025 million euros (FRF 13,286 million) in the first quarter of 1999, as against 1,954 million euros (FRF 12,816 million) for the first three months of 1998, a gross increase of 3.7%.
The following factors account for this increase:
- arising chiefly from the depreciation of the Brazilian real, the US dollar, the Canadian dollar and the pound sterling against the euro.
- structural changes with impact of 7.2%.
New entries to the consolidation – principally Lafarge South Africa, Jordan Cement Factory (Jordan), and Seacem and Continental (Philippines), as well as gypsum operations in South Korea – had a positive effect of 8.6%.
Removals from the consolidation had a negative effect of 1.4%; these chiefly consisted of the lime business in North America, which is now consolidated by the equity method, and the impact of the disposal of certain aggregates operations in France.
- an increase in business of 0.6% (Cement: + 2.4%; Aggregates & Concrete: + 2.5%; Roofing: - 4.3%; Gypsum: + 3.1%; Specialty Products: - 3.2%).
The level of business in the first quarter of 1999 is being compared to an outstanding first quarter in 1998 that saw a 9.1% rise in the level of business, principally because of very favorable climatic conditions. This quarter's figures confirm positive overall trends on Lafarge's markets, particularly in Western Europe and North America.
Price trends, meanwhile, remain favorable overall.
|In millions of euros||At March 31, 1999||At March 31, 1998|
|Aggregates & Concrete||586||583|