Colombia: Cemex Latam has reported that its consolidated net sales rose year-on-year by 8% to US$431m in the second quarter of 2013. The Cemex subsidiary, based in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, Guatemala and Brazil, attributed the rise to higher volumes, driven by improved construction activity and higher prices. Cemex Latam's operating earnings before interest, taxes, depreciation and amortisation (EBITDA) increased year-on-year by 16% to US$166m
"We are very pleased with the favourable results in the second quarter, as evidenced by the record level of operating EBITDA margin that reached 38.5%. We are also very encouraged with the results seen so far in connection with our new strategy based on commercial solutions that are allowing us to capture incremental value," said Carlos Jacks, CEO of Cemex Latam.
By region, Cemex Latam's operating EBITDA in Colombia increased by 12% to US$103m in the second quarter of 2013 and net sales increased by 6% to US$238m. In Panama, operating EBITDA increased by 14% to US$40m and net sales increased by 8% to US$81m. In Costa Rica, operating EBITDA increased by 37% to US$19m and net sales increased by 28% to US$42m. In Cemex Latam's remaining territories operating EBITDA increased by 7% to US$21m and net sales were US$74m.
