US drives Cemex growth
By Chris Sleight22 July 2015
Cemex had sales of US$ 3.8 billion in the second quarter of 2015. The company said this was a +5% increase on a like-for-like basis for the same period last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up +1% to US$744 million.
The company said its sales increase was due to higher prices in local currency terms for its products in most regions where it operates, along with increased volumes in Mexico, the US, Northern Europe and Asia. It added that its EBITDA was up +13% on a like-for-like basis in its ongoing operations, taking currency fluctuations into account.
Cemex CEO Fernando A. Gonzalez said, “This is the third quarter with double-digit, like-to-like growth in EBITDA.”
The most buoyant markets for Cemex over the quarter were the US, where sales grew +5% compared to a year ago, and Asia, where revenues rose +11%. The US was also Cemex’s largest market, with revenues for the quarter coming in at US$ 1.01 billion.
Although volumes were up in Mexico and Northern Europe, currency fluctuations meant Cemex’s revenues were down in US Dollar terms compared to a year ago. The company also saw a fall in revenues in the Mediterranean region and south & central America and the Caribbean.