Cemex Latam has announced that sales reached US$249 million during the second quarter of 2019, a decline of 11% in US-dollar terms.
The result was equal to a drop of 4% in local-currency terms, compared to the same period 2018, according the company. Cemex Latam, part of Spain’s Cemex group, is based in Colombia and operates also in Panama, Costa Rica, Nicaragua, El Salvador and Guatemala.
In Colombia, sales improved by 7% during the quarter in local-currency terms, driven by increased cement volumes as well as higher cement and aggregates prices, compared to those of the same period of 2018.
Operating EBITDA reached $46 million during the second quarter, a decline of 28% in US-dollar terms or of 23% in local-currency terms, on a year-over-year basis.
During the second quarter of 2019, consolidated domestic gray cement volumes increased by 1%, while consolidated ready-mix fell 5% and aggregates volumes declined 6% compared to the second quarter of 2018.
This article first appeared on our sister title Aggregates Business.
