Cemex announced on a like-to-like basis for the ongoing operations and adjusting for foreign exchange fluctuations, consolidated net sales decreased by 1%, reaching $3.5 billion during the third quarter of 2019 versus the comparable period in 2018. Operating EBITDA decreased by 7% on a like-to-like basis during the third quarter of 2019 to $681 million on a year-over-year basis.
Fernando A. Gonzalez, chief executive officer of Cemex, said: “In the third quarter, our business continued to be challenging and was negatively impacted by the weaker macroeconomic conditions in several of the markets we serve. In Mexico, we believe demand for our products is bottoming out and we are cautiously optimistic on renewed activity going forward given the expected announcement of a new infrastructure program. In the U.S., EBITDA improved during the quarter as a result of favorable pricing, and despite weaker volumes mainly due to weather and competitive dynamics in some of our markets. In our Europe and AMEA regions, we are pleased with the solid growth in EBITDA and expansion in margins driven primarily by favorable pricing and our cost-reduction initiatives.
“As part of our ‘A Stronger Cemex’ plan, we are committed to further strengthen our balance sheet through an important reduction in our debt and repositioning our portfolio for higher growth,” Gonzalez said.
Net sales in operations in Mexico, on a like-to-like basis, decreased 12% in the third quarter of 2019 to $716 million. Operating EBITDA, on a like-to-like basis, declined by 20% to $240 million in the quarter, versus the same period of last year.
Cemex operations in the United States reported net sales of $1,044 million in the third quarter of 2019, an increase of 5% from the same period in 2018. Operating EBITDA increased by 2% to $205 million from $202 million in the same quarter of 2018.
Cemex operations in South, Central America and the Caribbean reported net sales of $417 million during the third quarter of 2019, representing a like-to-like decrease of 1% over the same period of 2018. Operating EBITDA, on a like-to-like basis, decreased by 6% to $89 million in the third quarter of 2019, compared to the same quarter of 2018.