Lafarge expects 10% turnover decline

Lafarge Ciment, the largest cement producer on the Romanian market, has altered its turnover forecast three months into the year, and now expects a 10% business decline, to 375 million euros, after budgeting a 2-7% rise in its annual report, presented in February. The cement market fell in the first quarter to 50%-75% of what it amounted to in the first quarter of 2008, prompting players to revise their 2009 forecasts downward. The decline comes after 2008 saw record high cement consumption, at around 600 kilos/capita, up 25% against 2007. “For 2009 we expect a modest rise for the constructions sector compared with the 2006-2008 period, but we don’t rule out a more pessimistic scenario, either. This will definitely show in a turnover decline against 2008, by around 10%,” said Philippe Platon, CFO of Lafarge Ciment.