Cemex reports 4% nine-month sales fall so far in 2020

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Mexico: Cemex’s net sales in the first nine months of 2020 were US$9.43bn, down by 4% year-on-year from US$9.87bn in the corresponding period of 2019. Operating earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$1.82bn, in line with the first nine months of 2019. Cement volumes fell by 2% to 46.2Mt from 47.2Mt. The group said that sales volumes increased in most regions in the third quarter of 2020 as economies began to reopen following the Covid-19 lockdown.

Fernando A González, the chief executive officer (CEO) of Cemex said, “We are pleased with our performance in the third quarter in which all regions participated in earnings recovery. Indeed, during the quarter, we experienced EBITDA recovery from the second quarter decline, due to Covid-19, as well as strong year-over-year growth. Operation Resilience played a key role in this performance.”

Last modified on 28 October 2020

URL: https://globalcement.com/news/item/11534-cemex-reports-4-nine-month-sales-fall-so-far-in-2020

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