Strong results in 2014 and positive outlooks for 2015
Bruno Lafont and Jean-Jacques Gauthier opened the Combined General Meeting with a review of our performance in 2014. "All the transformation work we have done over a period of several years is now paying off," said Bruno Lafont. "By refocusing on our core business, by further consolidating our market-based approach to work even more closely with our customers, by putting innovation at the heart of strategy, and by redrawing the geography of our portfolio to support urban growth, we have delivered strong results."
Compared with 2013:
- our annual revenue increased by 3%;
- our EBITDA was 5% higher;
- our net income Group share was up by 10%.
We also hit our cost reduction target a full year early, and succeeded in reducing our debt to just over €9 billion.
Given our strengths, 2015 should be a good year for the Group in what is a more favorable economic climate. Bruno Lafont confirmed our targets for this year:
- To achieve EBITDA of between €3 billion and €3.2 billion, with at least €550 million attributable to cost cutting and innovation.
- To remain on target with improving our financial structure through investments totaling €1.1 billion.
- To continue the process of reducing our debt to between €8.5 billion and €9 billion by the end of the year.
Leading by example in governance
Reviews of its governance conducted in 2014 resulted in two awards for Lafarge! We received:
- the Top Award in the 'Management Structure Operation' category of the 2014 Corporate Governance Awards presented by the French financial publisher AGEFI.
- the 'Shareholder Meeting Invitation' Award, including 'Say on Pay' of the Grands Prix de la Transparence 2014 awards.