Mexico: Cemex has reported that its net sales rose by 3% year-on-year to US$4bn during the third quarter of 2013. Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 2% year-on-year to US$747. The Mexico-based multinational cement producer attributed the increase to increased prices and higher sales volumes in most regions.
"We continue to be focused on our company-wide efforts to improve our operating efficiencies and the value we generate from our asset base while delivering better value to our customers," said Fernando A González, Executive Vice President of Finance and Administration.
By region, Cemex noted that net sales fell in Mexico by 11% year-on-year to US$776m from US$875m. This was blamed on low government infrastructure spending and bad weather. Sales growth was seen in all other regions, and most notably in the group's Northern Europe and Mediterranean regions that recorded 6% (up to US$1.17bn) and 9% (up to US$375m) growth respectively.
