Cemex reports second-quarter 2013 results

643 Cemex’s consolidated net sales reached US$4 billion during the second quarter of 2013, an increase of 4% versus the comparable period in 2012, and due mainly to higher prices of its products in local currency terms and higher volumes in most of our regions. Operating EBITDA increased by 4% during the quarter to US$730 million versus the same period in 2012.

Adjusting for the higher number of business days in its operations during the quarter, consolidated net sales improved by 2% and operating EBITDA increased 2% versus the same period last year.

Operating earnings before other expenses (net) during the second quarter increased by 24% to US$451 million.

Fernando A. González, executive vice president of finance and administration, said: “We are pleased to report that this is the eighth consecutive quarter with year-over-year improvement in EBITDA. We also saw an increase in our consolidated prices in local currency terms for cement, ready mix and aggregates during the quarter.

“On the cost side, our alternative fuel substitution initiatives remain a very high priority. On a consolidated basis, our alternative fuel utilisation reached 28% during the quarter. In addition, we are implementing targeted cost reduction initiatives in Mexico and northern Europe, which we expect will result in savings of about US$100 million during the second half of 2013.”