Cemex Q2 2015 sales rise 5% to US$3.8bn

Mexican cement giant Cemex’s consolidated net sales reached US$3.8 billion during the second quarter of 2015, a like-for-like increase of 5% on the same period of 2014. Operating EBITDA increased by 1% during the quarter to US$744 million. Cemex says the increase in consolidated net sales on a like-to-like basis was due to higher prices in its products, in local currency terms, in most of its operations, as well as improved volumes in most of its products in Mexico, the US, and its Northern Europe and As

July 22, 2015 Read time: 2 mins

Mexican cement giant 643 Cemex’s consolidated net sales reached US$3.8 billion during the second quarter of 2015, a like-for-like increase of 5% on the same period of 2014. Operating EBITDA increased by 1% during the quarter to US$744 million.

Cemex says the increase in consolidated net sales on a like-to-like basis was due to higher prices in its products, in local currency terms, in most of its operations, as well as improved volumes in most of its products in Mexico, the US, and its Northern Europe and Asia regions.

The company’s operating earnings before other expenses, net, in the second quarter increased by 9%, to US$496 million. Operating EBITDA increased by 1% to US$744 million.

Fernando A. Gonzalez, Cemex chief executive officer, said: “We are pleased with our results. Our controlling interest net income during the quarter was the highest in six years. In addition, our operating EBITDA grew by 13% on a like-for-like basis. This is the third quarter with double-digit, like-for-like growth in EBITDA.

On the financing side, we are pleased to announce that as of today we have commitments from 19 financial institutions to fully repay approximately US$1.94 billion outstanding under our Facilities Agreement maturing in February 2017. The new debt is expected to have a final amortization in 2020 and benefit from a lower interest rate, which is expected to initially represent savings in our financial expense of close to US$20 million annually.”

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Cemex, the Mexican building materials giant, increased its year-on-year consolidated net sales by 6% in Q2 2016 to US$3.7 billion. The company’s EBITDA also increased 6% during the quarter to US$771 million versus the same period in 2015.

The increase in consolidated net sales was, says Cemex, due to higher prices of the firm’s products, in local currency terms, in most of its operations, as well as higher sales volumes in Mexico, the United States, and Europe.

Fernando A. Gonzalez, Cemex’s chief exe