Mexico: Multinational cement and building materials producer Cemex has announced that its consolidated net sales reached US$3.3bn during the first quarter of 2013, a decrease of 5% versus the comparable period in 2012. Operating earnings before interest, tax, depreciation and amortisation (EBITDA) decreased by 8% during the quarter to US$521m compared to the same period in 2012.
Cemex said that the decrease in consolidated net sales was due to fewer business days and lower volumes in the Northern Europe, Mexico, the Mediterranean and South, Central America and the Caribbean operations partially offset by higher prices, in local currency terms, in most of its regions. Its operating earnings before other expenses remained flat at US$239m and its operation. Adjusting for fewer business the extraordinary favourable effect in 2012 resulting from the change of a pension plan in its Northern Europe region, net sales declined by 2% and operating EBITDA increased by 9% during the first quarter of 2013.
Speaking about the results Fernando A González, Cemex's executive vice president of finance and administration, said, "We are pleased with the operating EBITDA growth and operating EBITDA margin expansion during the quarter on a comparable basis. This is the seventh consecutive quarter with year-over-year improvement in operating EBITDA."
"We are also seeing good results from the initial stages of our value-before-volume strategy as evidenced by the sequential increase in our consolidated prices for cement ready-mix and aggregates, in both, local-currency and US$ terms."
In Mexico, net sales decreased by 7% in the first quarter of 2013 to US$780m, compared with US$838m in the first quarter of 2012. Operating EBITDA decreased by 11% to US$263m.
Cemex's operations in the United States reported net sales of US$736m in the first quarter of 2013, up by 8% in the same period of 2012. Operating EBITDA increased to US$19m, versus the loss of US$24m in the same quarter of 2012.
In Northern Europe, net sales for the first quarter of 2013 decreased by 13% to US$756m, compared with US$873m in the first quarter of 2012. Operating EBITDA, made a loss of US$17m, down from a gain of US$55m for the same period of 2012.
First-quarter net sales in the economically-troubled Mediterranean region were US$347m, 8% lower compared with US$377m during the first quarter of 2012. Operating EBITDA decreased by 25% to US$73m for the quarter versus the same period in 2012.
Cemex's operations in South, Central America and the Caribbean reported net sales of US$497m during the first quarter of 2013, representing a decrease of 5% over the same period of 2012. Operating EBITDA for this region increased by 5% to US$188m in the first quarter of 2013, from US$178m in the first quarter of 2012.
Finally, operations in Asia reported an 11% increase in net sales for the first quarter of 2013, to US$142m. Operating EBITDA for the quarter was US$24m, up by 93% from the same period in 2012.
