Cemex predicts market turnaround
By Sarah Ann McCay29 April 2012
Cement producer Cemex has recorded favourable results for the first quarter of 2012, its sixth consecutive quarter of top-line growth, leading to senior executives predicting a turnaround in market fortunes.
The building materials company saw a +4% increase in net sales during Q1 2012, to US$ 3.5 billion, compared to Q1 2011 figures. Earnings were also up, with EBITDA showing a +7% growth to US$ 567 million.
Cemex attributed its improved figures to higher sales from its US and South, Central America and Caribbean operations, noting that the infrastructure and residential sectors were the main drivers of demand.
Cemex's operations in the US reported net sales of US$ 684 million in the first quarter of 2012, up +35% from the same period in 2011, while the company's operations in South, Central America and the Caribbean reported net sales of US$ 524 million during Q1 2012, up +30% on 2011 figures.
Increased consolidated prices for cement, ready mix and aggregates also helped push profits, according to Fernando A. González, executive vice president of finance and administration.