Mexico: Cemex has anounced that its consolidated net sales increased by 4% during the fourth quarter of 2013 to approximately US$3.9bn and increased by 2% for the whole of 2013 to US$15.2bn versus the comparable periods of 2012. Operating earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 4% during the fourth quarter of 2013 to US$642m and increased by 1% for the whole of 2013 to US$2.6bn versus 2012.
Cemex said that the increase in consolidated net sales was due to higher volumes in the US and its operations in the Mediterranean, Northern Europe, Asia and South, Central America and the Caribbean, as well as higher product prices in local currency terms in most regions. Operating earnings before other expenses in the fourth quarter increased by 30% to US$359m and increased by 17% to US$1.5bn for the full-year 2013.
Cemex reported a narrower controlling interest net loss of US$255m during the fourth quarter of 2013, down from a loss of US$494m in the same period of 2012. For the full-year 2013, controlling interest net loss improved to US$843m from a loss of US$913m in 2012.
Operating EBITDA during the fourth quarter increased by 4% to US$642m. For the full year 2013, operating EBITDA increased by 1% to US$2.6bn versus 2012. On a like-to-like basis and also adjusting for the pension plan effect, full-year 2013 operating EBITDA increased by 4%.
Fernando A González, Executive Vice President of Finance and Administration, said, "During 2013 we continued to deliver. This is our third consecutive year of EBITDA growth, driven by improvement in pricing and volume in most of our regions, the favorable operating leverage effect in the US and our continued initiatives to improve our operating efficiency."
The fourth quarter of 2013 by region
Net sales in Cemex's operations in Mexico decreased by 6% in the fourth quarter of 2013 to US$785m, compared with US$832m in the fourth quarter of 2012. Operating EBITDA decreased by 17% to US$247m versus the same period of 2012.
Cemex's operations in the US reported net sales of US$819m in the fourth quarter of 2013, up by 8% from the same period in 2012. Operating EBITDA increased to US$77m in the quarter, versus a US$13m profit in the same quarter of 2012.
In northern Europe, net sales for the fourth quarter of 2013 increased by 5% to US$1.1bn, compared with US$1.0bn in the fourth quarter of 2012. Operating EBITDA was US$79m for the fourth quarter, 1% lower than the same period of 2012.
Fourth-quarter net sales in the Mediterranean region were US$394m, 11% higher when compared to sales of US$354m during the fourth quarter of 2012. Operating EBITDA decreased by 5% to US$78m for the quarter versus the comparable period in 2012.
Cemex's operations in South, Central America and the Caribbean reported net sales of US$577m during the fourth quarter of 2013, representing an increase of 11% over the same period of 2012. Operating EBITDA increased by 15% to US$183m in the fourth quarter of 2013, from US$159m in the fourth quarter of 2012.
Operations in Asia reported a 4% decrease in net sales for the fourth quarter of 2013, to US$133m, versus the fourth quarter of 2012. Operating EBITDA for the quarter was US$32m, up by 12% from the same period of 2012.