The results represent the fifth consecutive quarter of growth in the results. Sales were stable at €3.809bn (£3.3bn) and earnings before interest, taxes, depreciation, and amortisation were (EBITDA) up 7% to €856m.
“We have delivered on our objectives for 2012 and our results grew for the fifth consecutive quarter, driven by strong operational performance and growth in emerging markets which generated close to 60% of our sales,” said Lafarge chairman and chief executive Bruno Lafont. “We are progressing fast and I am convinced that we will deliver most of our 2012-2015 plan to generate €1.75bn additional EBITDA through cost reduction and innovation measures by the end of 2014, close to one year ahead of our initial objective.”
He added that, overall, the group sees cement demand moving higher and estimates market growth of between 1% and 4% in 2013 versus 2012. Emerging markets continue to be the main driver of demand. “We expect higher pricing for the year and that cost inflation will continue, although at a slightly lower rate than in 2012,” he said.
The company said that its sales increase of 3.5% for the year-to-date were driven by growth in emerging markets and by successful price actions across all product lines to respond to cost inflation. The group delivered on its cost savings target, achieving €410m in the year.
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