Cemex LatAm Holdings has released its 1Q14 results, which show a 15% increase in net sales and a 10% increase in operating EBITDA on a like-for-like basis. Consolidated net sales reached US$423 million, thanks to high levels of construction activity, particularly in Colombia.
Operating EBITDA margin was 33.4% for the quarter, a decrease on last year that is attributed to higher maintenance costs. Free cash flow was up 86%, however, at US$75 million. Net debt decreased to US$1234 million.
Carlos Jacks, CEO of CLH, said: “As a supplier of comprehensive building solutions, we are increasing demand for our products as well as capturing additional EBITDA. In 2014, under our housing solutions initiatives we intend to participate in the construction of approximately 12 000 houses, mainly in Colombia. Our unique commercial offering together with a strong free-cash flow generation will continue supporting our business strategy, allowing us to deliver incremental value to our stakeholders.”
Results by geographic region show the strength of the Colombian market where operating EBITDA increased by 6% compared to a decrease of 5% and 3% in Panama and Costa Rica, respectively. Net sales increased by 16% in Colombia, 5% in Panama and 2% in Costa Rica.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/the-americas/30042014/cemex_latam_reports_good_1q14_108/