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Cemex Latam Holdings announces 2Q15 results

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World Cement,

Cemex Latam Holdings, S.A. (CLH) has released its 2Q15 results and has announced that its consolidated net sales decreased by 11% compared to 2Q14, reaching a total sum of US$394 million. Moreover, operating earnings before interest, taxes, depreciation and amortisation (EBITDA) also adjusted due to currency fluctuations – increasing by 2% compared with 2Q14.

The decline, outlined above, is primarily due to currency fluctuations and lower sales. The adjustment allowed consolidated net sales in 1Q15 to increase by 7%, on a y/y basis.

In this period, consolidated cement volumes decreased by 3%, while ready-mix and aggregates volumes increased by 6% and 3%, respectively, compared to the same period last year.

In 1H15, CLH cement volumes in Colombia declined by 11%, whilst ready-mix and aggregates volumes have increased by 4% and 2%, compared to the same time in 2014. In comparison to 1Q15, cement, ready-mix and aggregates volumes increased by 11%, 8% and 6%, respectively, during 2Q15.

In the same time frame, CLH’s cement, ready-mix and aggregates volumes in Panama increased in 2Q15 by 4%, 10% and 21%, respectively, compared to 2Q14.

In Costa Rica, the company’s volumes for the three main products grew at double-digit rates in both quarters of this year so far.

Carlos Jacks, CEO of CLH, commented: “We are pleased with the continued positive volume performance of our operations in Panama, Costa Rica and Nicaragua, where we are improving our volume guidance for the year. Additionally, our cement volumes in Colombia increased by 11% during the quarter compared with the first quarter of this year.”

He added: “This year our priority is to continue working persistently towards improving our profitability, which has been affected by the depreciation of the Colombian peso. Additionally, we continue evolving as a company into a more customer-centric organisation, offering differentiated construction solutions to our specific customer segments.”

Adapted from press release by Joseph Green

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