Benefit of Weaker Peso Offsets Milder-Than-Expected Outlook for Mexico; Maintaining Cemex’s FVE
2016 was a great year for Cemex, as demonstrated by both its free cash flow after maintenance capital expenditures (a near doubling from the prior year to $1.7 billion) and its share price (a nearly 50% increase from the end of 2015 to 2016). Amid improving volume and successful price increases in many parts of its footprint, Cemex reduced net debt by 13% to $12.5 billion. Combined with the improved profitability of its operations under better construction demand, Cemex’s consolidated funded deb...
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