Cemex Latam Holdings S.A. (CLH) has released its results for 2Q13. Higher prices and increased sales volumes, which were boosted by greater construction activity, helped consolidated net sales to rise by 9% y/y to US$431 million. Operating EBITDA reached US$166 million during the quarter, up 16% y/y.
On a regional basis, net sales in Colombia grew 6% y/y to US$238 million, with operating EBITDA coming in at US$103 million, 12% higher than the corresponding period in 2012. In Panama, similarly positive results were recorded, with operating EBITDA and net sales rising by 14% y/y and 8% y/y, respectively. In Costa Rica, net sales were up 28% from US$33 million in 2Q12 to US$42 million in 2Q13. Operating EBITDA grew 37% to US$19 million. Finally, the rest of the markets in which CLH operates saw net sales reach US$74 million and operating EBITDA rise by 7% y/y to US$21 million.
“We are very pleased with the favourable results in the second quarter, as evidenced by the record level of operating EBITDA margin that reached 38.5%. We are also very encouraged with the results seen so far in connection with our new strategy based on commercial solutions that are allowing us to capture incremental value. Our solid operating performance has resulted in a strong free cash flow generation that, going forward, should contribute to strengthen our business strategy, finance our expansion projects and reduce our indebtedness,” stated Carlos Jacks, CEO of CLH, when commenting on the results.