CEMEX, S.A.B. de C.V. (CX: Quote) announced that consolidated net sales increased by 4% during the first quarter to approximately $3.5 billion versus the prior-year quarter. The increase in consolidated net sales was due to higher sales mainly from the company's operations in the United States and South, Central America and the Caribbean.
Moreover, the infrastructure and residential sectors were the main drivers of demand in most of the company's markets.
Operating EBITDA grew 7% to $567 million versus the same period a year ago. On a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, operating EBITDA rose 10%.
Fernando González, Executive Vice President of Finance and Administration, said, "The favorable performance in most of our regions leads us to believe that we are in the initial stages of a turnaround.
"This is the sixth consecutive quarter of top-line growth in our results. We also saw growth in our consolidated cement volumes during the quarter versus the same quarter last year. Consolidated prices for cement, ready mix, and aggregates also increased on a quarter-on-quarter basis both in local-currency and U.S.-dollar terms..."
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by RTT Staff Writer
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