CEMEX report second-quarter results
Company reports eighth consecutive quarter with year-over-year improvement in EBITDA
CEMEX have reported a 4% increase in consolidated net sales to US$4.0 billion during the second quarter of 2013, compared with the same period in 2012. Operating EBITDA also increased by 4% during the quarter to US$730 million.
Adjusting for the higher number of business days during the quarter, both consolidated net sales and operating EBITDA increased by 2% compared with the same period last year.
CEMEX said the increase in consolidated net sales was due mainly to higher product prices in local currency terms and higher volumes in most of the company’s regions.
Operating earnings before other expenses, net, during the second quarter increased by 24% to US$451 million, while operating EBITDA margin during the quarter reached 18.2%, remaining flat on a year-over-year basis.
Commenting on the results, Fernando A. González, executive vice-president of finance and administration, said: ‘We are pleased to report that this is the eighth consecutive quarter with year-over-year improvement in EBITDA.
‘We also saw an increase in our consolidated prices in local currency terms for cement, ready-mixed concrete and aggregates during the quarter.
‘On the cost side, our alternative fuel substitution initiatives remain a very high priority. On a consolidated basis, our alternative fuel utilization reached 28% during the quarter.
‘In addition, we are implementing targeted cost-reduction initiatives in Mexico and northern Europe, which we expect will result in savings of about US$100 million during the second half of 2013.’
