Cemex sees Q3 growth
By Chris Sleight27 October 2014
Cemex’s sales for the third quarter of the year were up +3% compared to a year ago at US$ 4.14 billion. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up +3% to US$ 767 million.
The company said that in the third quarter volume sales of cement were up +4%, while aggregates sales rose +1% and ready-mixed concrete volumes were level with a year ago.
Sales in its native Mexico were up +5%, while the US moved ahead +15%. There was also growth of +8% in the Mediterranean region and revenues in Asia were up +10%. However, Cemex saw a downturn of -3% in revenues from Northern Europe and Latin America and the Caribbean (excluding Mexico) was flat as a region compared to a year ago.
Cemex CEO Fernando González said, “We are pleased with the year-to-date trends in our consolidated volumes and prices, despite the more challenging economic conditions during the quarter, especially in Europe. We continue to see favourable medium-term growth prospects for our regions, especially in the Americas where we expect most of our mid-term EBITDA growth.
"We are comfortable with the steps taken so far towards attaining an investment-grade capital structure target both on the financial and operating side.”