Cemex Q2 2014 sales up and first quarterly profit since 2009

Cemex say improved trade in the US, Mediterranean, South America, Central America, the Caribbean and Asia , and the higher price of its products in local currency terms in most of its operations, has led to the Mexican building material giant’s 4% increase to US$4.2 billion in Q2 2014 consolidated net sales, compared to the same period of 2013. With controlling interest net income at $76 million in the quarter, Cemex posted its first quarterly profit since 2009. Cemex’s operating EBITDA increased year-
July 18, 2014 Read time: 2 mins

643 Cemex say improved trade in the US, Mediterranean, South America, Central America, the Caribbean and Asia , and the higher price of its products in local currency terms in most of its operations, has led to the Mexican building material giant’s 4% increase to US$4.2 billion in Q2 2014 consolidated net sales,  compared to the same period of 2013.

With controlling interest net income at $76 million in the quarter, Cemex posted its first quarterly profit since 2009. Cemex’s operating EBITDA increased year-on-year by 1% to $737 million.

Fernando A. González, Cemex’s CEO, said, “We are pleased with the year-to-date trends we have seen in volumes for our three core products and the continued success of our value-before-volume strategy. We expect improved performance from our Mexican operations during the second half of the year which should lead to stronger overall EBITDA generation for the full year 2014.”

Cemex’s operations in the US reported net sales of $957 million in Q2 2014, up 10% from the same period in 2013. Operating EBITDA increased to $119 million in the quarter, versus $80 million in the same quarter of 2013.

In Northern Europe, net sales for the second quarter of 2014 reached $1.1 billion, a 5% increase compared with the second quarter of 2013. Operating EBITDA was $121 million for the quarter, 12% higher than the same period last year.

Second-quarter net sales in the Mediterranean region were $449 million, 12% higher compared with $400 million during the second quarter of 2013. Operating EBITDA increased 6% to $100 million for the quarter versus the comparable period in 2013.

Cemex’s operations in South, Central America and the Caribbean reported net sales of $562 million during the second quarter of 2014, remaining flat over the same period of 2013. Operating EBITDA decreased 16% to $178 million in Q2 2014, from $211 million in the second quarter of 2013.

Operations in Asia reported a 2% decrease in net sales for the second quarter of 2014, to $160 million, versus the second quarter of 2013, and operating EBITDA for the quarter was $34 million, down 11% from the same period last year.

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