Sales up at Cemex
By Sarah Ann McCay06 February 2014
Cemex has posted growth in consolidated net sales for both the fourth quarter and full year of 2013, as it sees the benefits of higher sales volumes in its international markets.
The cement producer reported a 4% increase in consolidated net sales for the fourth quarter of 2013 at US$ 3.9 billion, while year-end results achieved a 2% growth at US$ 15.2 billion compared with 2012 figures.
Operating earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 4% during the fourth quarter of 2013 to US$ 642 million and increased 1% for the full year to US$ 2.6 billion versus 2012.
Cemex attributed its growth to increased sales in the US, and in its Mediterranean, Northern Europe, Asia and South, Central America and the Caribbean regions, as well as higher prices of its products in local currency terms in most regions.
Operating profits for the quarter were up 30% to US$ 359 million, while full-year figures jumped 17% to US$ 1.5 billion.
Fernando A González, executive vice president of finance and administration, said, “During 2013, we continued to deliver. This is our third consecutive year of EBITDA growth, driven by improvement in pricing and volume in most of our regions, the favourable operating leverage effect in the US, as well as our continued initiatives to improve our operating efficiency.”