Mexico: Cemex has announced that its net sales reached US$3.6bn in the first quarter of 2014, an increase of 8% compared to the same period of 2013. Operating earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 3% year-on-year. The group made a net loss of US$293m for the quarter, a deterioration compared to a loss of US$281m in the first quarter of 2013.
Net sales in Cemex's operations in Mexico decreased by 6% in the first quarter of 2014 to US$737m, compared to US$780m in the first quarter of 2013. Operating EBITDA for the country decreased by 5% to US$250m versus the year-earlier period.
Cemex's operations in the United States reported net sales of US$792m in the first quarter of 2014, up by 8% from the same period in 2013. Operating EBITDA in the country increased by 48% to US$28m.
In Northern Europe, net sales for the first quarter of 2014 increased by 21% to US$912m, compared with US$756m in the first quarter of 2013. Operating EBITDA increased to US$13m in the quarter, versus a loss of US$17m in the same period of 2013.
First-quarter net sales in the group's Mediterranean region were US$412m, 19% higher than the US$347m taken during the first quarter of 2013. Operating EBITDA increased by 11% to US$81m.
Cemex's operations in South, Central America and the Caribbean reported net sales of US$538m during the first quarter of 2014, representing an increase of 8% over the same period of 2013. Operating EBITDA remained flat at US$187m.
Operations in Asia reported a 3% increase in net sales for the first quarter of 2014, to US$146m, versus the first quarter of 2013. Here, operating EBITDA for the quarter was US$26m, up by 8% year-on-year.
Fernando A González, Executive Vice President of Finance and Administration at Cemex, said, "We are pleased with the growth in our operating EBITDA during the quarter, on a like-to-like basis, adjusting for the seasonal maintenance and inventory-drawdown effects, which we expect will revert throughout the rest of the year. We also saw positive dynamics in consolidated volumes and prices for our main products."
