CEMEX report first-quarter results
Company believes favourable results in most regions may signify initial stages of a turnaround
CEMEX have reported a 4% increase in consolidated net sales to approximately US$3.5 billion during the first quarter of 2012, compared with the comparable period in 2011.
The increase was largely due to higher sales from operations in the US and the South, Central America and Caribbean region, with the infrastructure and residential sectors said to be the main drivers of demand.
Operating EBITDA increased by 7% during the first quarter of 2012 to US$567 million, compared with the same period in 2011, while operating income in the first quarter increased by 34% to US$240 million.
According to Fernando A. González, executive vice-president of finance and administration, the favorable performance in most regions leads the company to believe it is in the initial stages of a turnaround.
‘This is the sixth consecutive quarter of top-line growth in our results,’ he said. ‘We also saw growth in our consolidated cement volumes during the quarter versus the same quarter last year.
‘Consolidated prices for cement, ready-mixed concrete and aggregates also increased on a quarter-on-quarter basis both in local-currency and US-dollar terms. In fact, all of our regions showed stable to growing prices on a quarter-on-quarter basis in all three products with the exception of our aggregates business in Asia.’
Mr González said the company was particularly pleased with the quarterly performance in the US and the South, Central America and Caribbean region.
CEMEX’s operations in the US reported net sales of US$684 million in the first quarter of 2012, up 35% from the same period in 2011, while operations in the South, Central America and the Caribbean region saw net sales rise 30% to US$524 million during the quarter.
Meanwhile, in Northern Europe, net sales for the first quarter of 2012 decreased by 11% to US$873 million, compared with the first quarter of 2011, while first-quarter net sales in the Mediterranean region were down 14% at US$377 million.
