Mexico: Cemex’s operating earnings before interest, taxation, depreciation and amortisation (EBTIDA) rose by 1% year-on-year on a like-for-like basis to US$2.56bn in 2018 from US$2.57bn in 2017. It has attributed this decrease in real terms to lower earnings from its territories outside of Mexico and the US. Its net sales rose by 5% to US$14.4bn from US$13.6bn.
“We are pleased with our 6% top-line growth during 2018, supported by higher consolidated volumes and prices in our three core products. Operating EBITDA grew by 1% on a like-to-like basis in this period,” said Fernando A Gonzalez, the chief executive officer (CEO) of Cemex. He added the company had reduced its total debt to nearly US$1bn in 2018.
By region, Cemex’s sales and earnings rose in Mexico and the US, fell in the rest of the Americas and were mixed in Europe. In the Asia, Middle East and Africa sales increased due to growth in the Philippines but earnings fell.