CEMEX report final-quarter and full-year results for 2013
Consolidated net sales and operating EBITDA both increase by 4% during fourth quarter of 2013
CEMEX’s consolidated net sales increased by 4% during the fourth quarter of 2013 to approximately US$3.9 billion, and increased by 2% for the full year to US$15.2 billion, compared with the comparable periods in 2012.
The increase in consolidated net sales was due to higher volumes in the US and in the company’s Mediterranean, Northern Europe, Asia and South, Central America and the Caribbean regions, as well as higher product prices in most regions.
Operating 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, compared with 2012. Operating earnings before other expenses in the fourth quarter increased by 30% to US$359 million, and by 17% to US$1.5 billion for the full year.
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.’
Net sales in Mexico decreased by 6% in the fourth quarter of 2013 to US$785 million, compared with US$832 million in the fourth quarter of 2012. Operating EBITDA decreased by 17% to US$247 million during the quarter, compared with the same period of 2012.
CEMEX’s operations in the US reported net sales of US$819 million in the fourth quarter of 2013, up 8% from the same period in 2012. Operating EBITDA increased to US$77 million in the quarter, compared with a gain of US$13 million in the same quarter of 2012.
In Northern Europe, net sales for the fourth quarter of 2013 increased by 5% to US$1.1 billion, compared with US$1.0 billion in the fourth quarter of 2012. Operating EBITDA was US$79 million for the quarter, 1% lower than the same period in 2012.
Fourth-quarter net sales in the Mediterranean region were US$394 million, 11% higher compared with US$354 million during the fourth quarter of 2012. Operating EBITDA decreased by 5% to US$78 million for the quarter compared with the comparable period in 2012.
CEMEX’s operations in South, Central America and the Caribbean reported net sales of US$577 million during the fourth quarter of 2013, representing an increase of 11% over the same period of 2012. Operating EBITDA increased by 15% to US$183 million in the fourth quarter of 2013, from US$159 million in the fourth quarter of 2012.
Operations in Asia reported a 4% decrease in net sales for the fourth quarter of 2013, to US$133 million, versus the fourth quarter of 2012, and operating EBITDA for the quarter was US$32 million, up 12% from the same period the previous year.
