Cemex shows steady performance in first half of 2017

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Mexico: Cemex’s consolidated net sales fell slightly to US$3.6bn year-on-year for the second quarter of 2017. However, on a like-for-like basis taking into account only ongoing operations and foreign exchange fluctuation, its net sales rose by 2%. This rise was attributed to positive currency variations in Mexico and the US, as well as higher sales volumes in Europe.

However, the group’s operating earnings before interest, tax, depreciation and amortisation (EBITDA) decreased by 8% to US$696m due to lower contributions from South, Central America and the Caribbean, Europe and Asia, Middle East and Africa regions, partially offset by higher contributions in Mexico and the US. Globally, Cemex sold 17.9Mt of cement in the second quarter of 2017, a 3% fall year-on-year. In the first half of the year it sold 33.9Mt of cement. Overall, Cemex’s net sales rose by 3% on a like-for-like basis to US$6.7bn in the first of 2017 and its operating EBITDA fell by 4% on a like-for-like basis to US$1.33bn.

“Our second quarter operating and financial performance was essentially in line with our expectations as of the first quarter: good results in Mexico, the US and Europe; increasing challenges in Colombia and Egypt, and to a much lesser extent the Philippines,” said Fernando A Gonzalez, chief executive officer (CEO).

By region, in Mexico Cemex’s net sales came to US$810m for the second quarter and US$1.53bn for the first half, a rise of 7% compared to the first half of 2016. In the US its net sales came to US$916m for the second quarter and US$1.73bn for the first half, a 1% fall year-on-year. In South & Central America and the Caribbean, sales brought in US$479m in the second quarter and US$958m in the first half, a fall of 6% on a like-for-like basis. In Europe the second quarter saw a 2% improvement in cement sales to US$934m, while the first half saw US$1.67bn of sales, a 3% like-for-like rise. In Asia, the Middle East and Africa, sales were US$327m in the second quarter and US$653m, a 7% like-for-like fall year-on-year.

Last modified on 02 August 2017

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