Cemex reports second quarter sales growth

Improved sales in the Northern Europe, South and Central America, the Caribbean and Mexico are cited as the main drivers for increased sales at 643 Cemex during the second quarter of the year. Sales were up 9%, compared to the same period last year, to US4.1billion with infrastructure and residential markets being noted as the main growth areas. Nonetheless, operating EBITDA was down by 7% to US$615million.

“This is the third consecutive quarter of top-line growth in our results,” said Cemex executive vice president of finance and administration Fernando González. “We are pleased with the quarterly performance of our operations in Northern Europe; the South, Central American and Caribbean region; and Mexico, which helped mitigate the challenging conditions of the construction sector in the United States.

“We also remain focused on our transformation process, which will reach a run rate of US$400million in recurring improvement in our steady state EBITDA by the end of 2012.”

In Northern Europe, net sales for the second quarter of 2011 increased 24% to US$1.35billion, while operating EBITDA was US$152million for the quarter, 52% higher than the same period last year.

Second-quarter net sales in the Mediterranean region were US$477million, which is flat versus the same quarter in 2010. Operating EBITDA decreased 15% to US$125million for the quarter versus the comparable period in 2010.