CEMEX posts highest net income in a decade

CEMEX, the Mexican global building materials giant, posted net income of US$806 million in 2017 – its highest in a decade. The company’s net sales increased by 4% year-on-year during the fourth quarter of 2017 to US$3.4 billion, and increased 3% for the full year 2017 to US$13.7 billion. Operating EBITDA decreased by 7% during Q4 2017 to US$625 million, and decreased by 6% for the full year to US$2.6 billion.

February 8, 2018 Read time: 2 mins

643 CEMEX, the Mexican global building materials giant, posted net income of US$806 million in 2017 – its highest in a decade. The company’s net sales increased by 4% year-on-year during the fourth quarter of 2017 to US$3.4 billion, and increased 3% for the full year 2017 to US$13.7 billion. Operating EBITDA decreased by 7% during Q4 2017 to US$625 million, and decreased by 6% for the full year to US$2.6 billion.

CEMEX says its increase in quarterly net sales was due to higher prices of its products, in local currency terms in Mexico, the U.S. and our Europe region, as well as higher volumes in our U.S., Europe and Asia, Middle East & Africa.

Fernando A. Gonzalez, CEMEX chief executive officer, said: “Although 2017 was a challenging year, our two largest markets, Mexico and the United States, performed well with like-to-like increases in their EBITDA. We also generated free cash flow after maintenance capex of close to US$1.3 billion, with a 50% EBITDA-to-free-cash-flow conversion rate and which, together with our asset-divestment initiatives, resulted in pro-forma debt reduction of close to US$2.1 billion during the year.

“We had important headwinds during the year: underperformance in Colombia, Egypt and the Philippines as well as increased energy costs, mainly in Mexico. As we have done in the past, we focused on the variables we control to dampen these headwinds and we continued to deliver solid results.”

Quarry Products

For more information on companies in this article

Cemex

CEMEX’S net income grows 41% in Q2 2017

Mexican building materials giant CEMEX saw its year-on-year net income grow 41% in Q2 2017 to US$289 million. The company’s $626 million net income for the first six months of 2017 was also its highest first half-year net income since 2008. CEMEX’s consolidated net sales reached $3.6 billion during the second quarter of 2017, a like-for-like increase of 2%. This was said to be due to higher prices of CEMEX products in its native Mexican market and the US, and higher sales in Europe. CEMEX operating EBITDA d

February 7, 2019

CEMEX posts 6% like-for-like sales increase in 2018

CEMEX says that its 2018 consolidated net like-for-like sales for full-year 2018 increased by 6% on the previous year to US$14.4bn.

The building materials giant also posted a 4% increase in consolidated net sales during the fourth quarter of 2018 to US$3.5bn, compared with the same quarter in 2017.

CEMEX attributed the increase in Q4 consolidated net sales to higher prices of its products, in local currency terms in all of its regions, as well as higher volumes mainly in the ready-mix and aggregates b

February 9, 2017

Cemex posts tenfold year-on-year increase in 2016 net income

Mexican cement giant Cemex has posted a tenfold year-on-year increase in its net income for 2016. The company’s net income reached US$750 million in 2016, compared to $75 million in 2015. It represents Cemex’s highest annual net income generation since 2007.

Meanwhile, Cemex’s operating EBITDA increased on a like-to-like basis by 15% during the full year versus 2015, while EBITDA margin increased 1.7% in the same period. The firm’s EBITDA and EBITDA margin were the highest achieved since 2008 and 2007, r

February 12, 2019

Cemex posts 6% like-for-like sales increase in 2018

July 27, 2016