Encouraging first quarter for CEMEX Latam Holdings

Double-digit growth in consolidated cement, ready-mix and aggregates volumes on year-over-year basis

CEMEX Latam Holdings (CLH) announced today that consolidated net sales reached US$423 million during the first quarter of 2014, an increase of 10% versus the first quarter of 2013.

Operating EBITDA remained flat during the quarter reaching US$141 million compared with the same quarter in 2013. Adjusting for foreign exchange fluctuations and the additional working days in the first quarter of 2014, consolidated net sales and operating EBITDA increased by 15% and 5%, respectively.

Carlos Jacks, CEO of CLH, said: ‘We are encouraged by the high levels of construction activity in several of our markets. This is reflected in the double-digit growth rates in our cement, ready-mix and aggregates consolidated volumes during the first quarter of 2014 versus the same period a year ago.’

The increase in consolidated net sales during the first quarter resulted mainly from higher volumes in several markets, particularly in Colombia.

Operating EBITDA margin in the first quarter of 2014 reached 33.4%, a 3.3 percentage point decline compared with the same period a year ago, driven mainly by higher maintenance costs in the company’s main markets.

Free cash flow reached US$75 million during the first quarter of 2014, an increase of 86% compared with the first quarter of 2013.