Cemex, S.A.B. de C.V. announced today that controlling interest net income was $76 million during the second quarter of 2014, the first reported quarterly profit since 2009. Consolidated net sales reached $4.2 billion during the quarter, an increase of 4 percent compared to the same period in 2013. This was due to higher prices of products in local currency terms in most of the company’s operations, as well as higher volumes in the U.S., Mediterranean, South America, Central America and Caribbean, and Asia regions.
Operating EBITDA increased by 1 percent during the quarter to $737 million from the year-earlier period. On a like-to-like basis and adjusting for business days in operations during the quarter, consolidated net sales increased by 5 percent and operating EBITDA increased by 3 percent versus the second quarter in 2013.
Fernando A. González, chief executive officer, said: “We are pleased with the year-to-date trends we have seen in volumes for our three core products and the continued success of our value-before-volume strategy. We expect improved performance from our Mexican operations during the second half of the year which should lead to stronger overall EBITDA generation for the full year 2014.”
Net sales in operations in Mexico decreased 4 percent in the second quarter of 2014 to $816 million, compared with $847 million in the second quarter of 2013. Operating EBITDA decreased by 1 percent to $247 million versus the same period of last year.
Cemex’s operations in the United States reported net sales of $957 million in the second quarter of 2014, up 10 percent from the same period in 2013. Operating EBITDA increased to $119 million in the quarter, versus$80 million in the same quarter of 2013.
Operations in South America, Central America and the Caribbean reported net sales of $562 million during the second quarter of 2014, remaining flat over the same period of 2013. Operating EBITDA decreased 16 percent to $178 million in the second quarter of 2014, from $211 million in the second quarter of 2013.