Cemex sales improve
By Joe Malone23 October 2015
Cemex recorded net sales of US$ 3.7 billion for the third quarter of 2015 – an increase of 5% from the same period last year.
The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) reached US$ 677 million, which was an increase of 5% compared to the same period last year.
Its US operation sales increased 9% to US$ 1.09 billion, while its revenues decreased 17% to US$ 669 million. In Northern Europe, sales decreased 21% to US$ 829 million, and its Mediterranean sales fell 5% to US$ 348 million. Finally, its South, Central America and the Caribbean sales decreased 19% to US$ 476 million, while its sales in Asia saw a 7% increase to US$ 162 million.
Fernando Gonzalez, CEO, said, “Our reported results reflect the unprecedented strength of the US dollar versus the currencies in most of our markets, which intensified during the quarter. Despite this, we had favourable operating results. Our quarterly sales and operating EBITDA increased by 5% on a like-to-like basis.
“While EBITDA margin was relatively flat during the quarter, year-to-date EBITDA margin was the highest since 2009. Our free cash flow after maintenance capex also increased 25% during the quarter.”