EU and Mexico boost Cemex sales in the third quarter

MEXICO.- In the third quarter, Cemex achieved net revenue growth of 8% and EBITDA of 2%, driven by better results in Mexico and the United States. However, net profit fell by 36%.

Consolidated net sales of Cemex total $ 17,987 million (MD). According to the report for the third quarter of the year, this figure is due to increases of 2% to 4% in sales volumes of cement, concrete and aggregates and in price increases of up to 10%. % in local currency in some countries. the countries.

"These results are supported by the strong volume and price momentum of our top three products across most of our portfolio, and in Mexico and the United States, we welcome strong volume growth and improved performance. price of our three main products compared to the same period of the previous year, "said Fernando Gónzalez Olivieri, CEO of Cemex, in the report.

At the consolidated level, EBITDA increased by 2% in comparable terms to reach $ 704 million and its margin decreased by 1.2 percentage points to 17.9%.

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The company did not perform well in net income, as foreign exchange rate fluctuations, taxes and lower earnings on financial instruments resulted in a 40% decrease to $ 174 million.

In Mexico, Cemex sales increased by 15% and EBITDA by 5%. "The increase in volumes recorded during the quarter is mainly due to the industrial and commercial sector, supported by the manufacturing and tourism sectors, as well as to the weakness of the comparison base," the report says. report.

The sales volumes of its three products increased from 9% to 14% nation-wide, while local currency prices for cement remained unchanged, concrete prices increased by 7% and those of aggregates 10%.

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In the United States, the results were also positive, recording sales and EBITDA growth of 11% and 12%, respectively. Sales volume increased between 7% and 10%, while prices rose 3% on a generalized basis.

The company continued its debt reduction strategy and managed to reduce it by 7% at the end of September compared to the third quarter of the previous year. Net debt plus perpetual notes amounted to $ 10.332 million.