Cemex net loss narrows as revenues rise
By Chris Sleight25 July 2011
Cemex's revenues for the second quarter of the year rose +9% to US$ 4.1 billion, however its earnings before interest tax, depreciation and amortisation (EBITDA) fell by -7% to US$ 615 million. The company made a net loss of US$ 294 million, a slight improvement on the US$ 306 million it lost in the same period last year.
Executive vice president of finance and administration, Fernanado Gonzalez said," This is the third consecutive quarter of top-line growth in our results. We are pleased with the quarterly performance of our operations in Northern Europe, the South/central American and Caribbean region and Mexico, which helped mitigate the challenging conditions of the construction sector in the United States."
Cemex saw its sales in the US fall -9% in the quarter, compared to the same period last year, with revenues coming in at US$ 619 million. The company made a loss of US$ 22 million in the region over the quarter. The company also saw its revenues in Asia fall -9% to US$ 442 million
In contrast, revenues in Northern Europe were up +24%, and up +23% in the South/central America and Caribbean market. Revenues in Mexico rose +5%, while the company's business in the Mediterranean region was flat compared to the same period in 2010.