Mexico-based building materials company Cemex announced its second quarter results, reporting a revenues increase of 6% year-on-year to US$ 3.7 billion.
The company also revealed an eight-year high in its net income for a second quarter, recording an 81% increase to US$ 205 million.
Cemex’s operating earnings before interest, taxes, depreciation and amortization (EBITDA) grew 16% year-on-year during the second quarter of 2016, leading to an EBITDA margin of 20.9%.
The company said its rise in revenues was due to an increase in the prices of its products, as well as higher volumes in Mexico, the US, and Europe.
Fernando Gonzalez, CEO of Cemex, said, “Our solid second quarter and first half 2016 results demonstrate the resilience of our portfolio, which is largely comprised of high-growth markets that are experiencing attractive supply-demand conditions.
“We saw higher consolidated cement and aggregates volumes during the quarter as well as continued favorable results from our value-before-volume strategy, which led to a growth in sales of 6% on a like-to-like basis.”