Cemex maintains forecast

By Chris Sleight18 June 2008

Cemex had revenues of US$ 11.8 billion for the first half of the year, and achieved earnings before income tax, depreciation and amortisation (EBITA) of US$ 2.3 billion. These represented growth of +26% and +15% respectively thanks to the company's acquisition of Rinker last year. On a like-for-like basis, revenues were up +4% and EBITA was down -2% compared to the first six months of 2007.

Commenting on the results, chief financial officer (CFO) Rodrigo TreviƱo said, "We have and better than expected performance in South/Central America and the Caribbean, Africa, the milled East, Eastern Europe, Asia and Australia. However, this performance has not fully mitigated the downturn in the US and the negative impact from higher energy input costs. We continue to face a difficult economic environment in the US, with construction falling more than originally anticipated."

The company expects to achieve sales of US$ 24.5 billion this year, with EBITA of about US$ 5.3 billion.

US impact

Cemex forecasts that its cement volumes in the US will be -12% lower this year than in 2007. Ready-mixed concrete volumes are expected to fall about -21%, while aggregate volumes are expected to drop -20%. The company also sees a sharp downturn in Spain this year and lower volumes in the UK.

Latest News
Alarming rise in construction disputes
New research shows almost 9 out of 10 AEC companies have dealt with a dispute in the past 12 months
Chile’s equipment market worth US$1 billion
A bounce-back from the Covid pandemic and sharply rising global commodity prices saw the Chilean equipment market double in size in 2021
Doosan makes multiple equipment debuts
Visitors at Hillhead 2022 get first look at Doosan’s next-gen mini excavators