Cemex fortunes up for fifth quarter

Cement producer Cemex reported a +2% year-on-year increase in revenues in the third quarter of 2012 to reach US$ 3.9 billion. The company announced that sales were driven by continued growth in the infrastructure and residential sectors in most markets.

The Mexico-based firm also attributed the rise in net sales in part to higher prices in local currency terms in most of its operating regions.

Operating earnings before interest, tax, depreciation and amortisation (EBITDA) also rose, up +9% on 2011 figures, to US$ 730 million, while operating income jumped +35% to US$ 410 million.

Fernando A. González, executive vice president of finance and administration, noted that this was the fifth consecutive quarter to see EBITDA increase.

Cemex saw sales in its domestic market of Mexico rise +2% to US$ 875 million. Further growth was also seen in the US, up +12% to US$ 826 million.

Similar growth was reported in South, Central America and the Caribbean, where net sales totalled US$ 520 million, an increase of +15% over the same period of 2011. Asia saw sales grow +2% to US$ 133 million.

However, results from Northern Europe and the Mediterranean continued in decline. In Northern Europe, net sales for the third quarter decreased -15% to US$ 1.1 billion while sales in the Mediterranean region were US$ 342 million, -19% down on 2011 figures.