Cemex announces financial results 1Q12
Summary of financial results 1Q12
Cemex saw net sales rise to US$3.5 billion in 1Q12, a 4% increase from 1Q11. The company has attributed the increase to high sales levels in the Caribbean, USA and Latin America. A large percentage of demand came from the residential and infrastructure sectors. Operating income also increased, rising to US$240 million, 34% higher than the previous year.
Fernando A. González, Executive Vice President of Finance and Administration, said: “The favourable performance in most of our regions leads us to believe that we are in the initial stages of a turnaround. […] All of our regions showed stable to growing prices on a quarter-on-quarter basis in all three products with the exception of our aggregates business in Asia. We are particularly pleased with the quarterly performance of our operations in the United States and the South, Central America and Caribbean region. During the quarter, we also had the narrowest controlling interest net loss since the third quarter of 2009.”
Cement sales by region
- Net sales in Mexico fell by 1% to US$838 million.
- In the US, net sales increased by 35%, reaching US$684 million.
- The Mediterranean experienced the biggest fall in sales volumes in 1Q, dropping 14% to US$377 million.
- Northern Europe came close behind, with net sales decreasing by 11% to US$873 million.
- Net sales in Asia rose by 5% to US$128 million in 1Q.
Cemex experienced growth in the South, Central American and Caribbean markets, where net sales increased by 30% to US$524 million.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/europe-cis/26042012/cemex_cement_results_profits/
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