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News Grupo Cementos de Chihuahua’s first quarter sales down on US market

Grupo Cementos de Chihuahua’s first quarter sales down on US market

Written by Global Cement staff 24 April 2019
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Mexico: Grupo Cementos de Chihuahua’s (GCC) sales fell in the first quarter of 2019 due to lower cement and concrete volumes in the US. Sales volumes rose in Mexico and the group described a ‘favourable pricing environment’ in both markets. Its net sales dropped by 1.9% year-on-year to US$163m from US$167m. Cement sales volumes fell by 7.3% in the US but they rose by 3.8% in Mexico. Earnings before interest, taxation, deprecation and amortisation (EBITDA) fell by 16% to US$38.3m from US$45.6m.

“The US operations slowed, with severe inclement weather continuing into the first quarter. However, there is a strong backlog and we are picking up the pace as the weather conditions improve,” said Enrique Escalante, GCC’s chief executive officer (CEO). He added that Chihuahua in Mexico continued to perform well driven by mining shipments, industrial maquiladora plants and warehouse construction and middle-income housing starts.

Published in Global Cement News
Tagged under
  • Mexico
  • Grupo Cementos de Chihuahua
  • GCC
  • Results
  • GCW401
  • US
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