In its fourth quarter report, Mexican building materials giant Cemex has announced a net income of US$ 75 million.
The result represents the first time the company’s annual net income figures have shown as a positive for six years.
Cemex’s cash flow for 2015 stood at $ 881 million, more than double the $ 399 million at the end of 2014.
Net sales for December 2015 reached $3.4 billion, an increase of 2% on the figure for December 2014, while net sales for the full year sales stood at $14.1 billion, a like-for-like increase on 2014 of 5%.
Cemex’s operating EBITDA for the full year also rose, to $ 2.6 billion, an increase of 9% on the 2014 figure.
In the report, Cemex suggested the increase in net sales was due to increased product prices and higher sales volumes, predominantly in the US, but also in the Mediterranean and Asian regions.
Fernando A. Gonzalez, Cemex’s CEO, said, “Despite a challenging macroeconomic environment which has affected many of our markets, our industry, and CEMEX in specific, we have been able to meet these challenges and deliver strong operating and financial results, on a like-to-like basis.”