Commenting on CEMEX’s early 2019 trading performance, Fernando A. Gonzalez, the firm’s chief executive officer, said: “We are pleased with the 1% top-line growth we achieved during the first quarter, despite important volume declines in our two most important markets: Mexico and the US. During the quarter, we enjoyed improved pricing performance in all our regions with favourable volume dynamics in Europe. In the US, ready-mixed and aggregates volumes also grew despite adverse weather in part of our footprint. In addition, operating cash flow performance was bolstered by the ongoing successful implementation of our A Stronger CEMEX Initiatives.
“Our EBITDA generation during the quarter was impacted by lower volumes in our other regions, higher energy costs and purchased cement as well as increased raw-material costs in our ready-mix business. We expect EBITDA to improve in the following quarters and end 2019 at a higher level than in 2018.”
In Europe, CEMEX’s sales for the first quarter of 2019 increased by 12% on a like-to-like basis to US$805 million, compared to Q1 2018. Operating EBITDA was US$61 million for the quarter, 77% higher than the same period last year, on a like-to-like basis.
CEMEX operations in Asia, Middle East and Africa, on a like-to-like basis, reported a 6% decline in net sales for the first quarter of 2019, to US$347 million, versus the same quarter of 2018. Operating EBITDA for the quarter was US$54 million, 18% lower, on a like-to-like basis, than the same period last year.
