Positive results continue for Cemex

By Mike Hayes28 October 2016

Fernando Gonzalez, CEO, Cemex

Fernando Gonzalez, CEO, Cemex

Cement-making giant Cemex has released its third-quarter results for 2016, showing net income up to US$ 330 million, from US$ 286 million in the same period last year.

The results represent Cemex’s fourth consecutive quarterly increase, which, the company said, was due to higher prices of its products, as well as higher volumes sold, not only in Mexico, but also in Europe, Asia, the Middle East and Africa.

Perhaps significnatly, the latest net income increase is the highest in a single quarter since 2008.

The company’s consolidated net sales totalled US$ 3.6 billion in the quarter, up 4% on the comparable period in 2015, and net operating earnings increased by 25%, to US$ 551 million.

Cemex CEO Fernando A. Gonzalez, said, “During the third quarter, we continued to deliver strong underlying operational and financial results by remaining focused on the variables we can control.

“In addition, total debt is close to US$1.4 billion dollars lower than that at the end of 2015. Since 2014, we have reduced total debt by US$3.5 billion, or about 20% of the then outstanding debt. We continue with our initiatives to improve our debt maturity profile and strengthen our capital structure.”

Latest News
Data centre market to be worth US$308 billion
Increasing demand for data storage and processing capabilities push up value of sector
What are the top stories in cranes and specialized transport in 2022?
International Cranes and Specialized Transport reviews the top stories of 2022
New all-electric heavy lift ship crane
Liebherr expands heavy lift ship crane portfolio with new 800 tonne capacity crane