Spread Research - CEMEX (CEMEX) CEMEX - 3Q16 RESULTS

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Spread Research

CEMEX - 3Q16 RESULTS

â€‹Mexican cement maker Cemex has released very strong 3Q16 results, reporting its highest quarterly EBITDA since 2008. The fundamentals drivers are still the same: increased selling prices in local currencies and, to a lower extent, growing volumes, on the back of material...

28/10/2016 2 EN

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CEMEX

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Spread Research

Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

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Other Reports on these Companies

Spread Research

Quarterly Comment: Cemex

Dynamic Q4; 2017 outlook favorable on the back of strong pricing despite subdued volumesMexican cement maker Cemex, has published another set of sound results in 4Q16 and met all its 2016 targets in terms of cost reduction, FCF, and deleveraging. Similarly to the previous quarters, operational improvements were primarily driven by Cemexâ€™s key regions Mexico (21% of revenues; 38% of EBITDA) and the US (27% of revenues; 23% of EBITDA). Again, general price increases in local terms, which have allowed to recover some of the lost ground over the past few years,were the main driver behind the ope...

EUR 212.46

February 10, 2017 February 10, 2017 2 EN

Spread Research

CEMEX - 1Q16 RESULTS

â€‹Progress in margins on the back of selling price increases, lower costs and US operating leverage Cemex, the Mexican manufacturer of building materials, has published sound 1Q16 results which were marked, again, by material improvement in margins. On a LFL basis, sales increased by 3% yoy to USD 3.2bn and EBITDA rose by 12% to USD 583m. The steady increases in selling prices were the main driver behind the improvement in margin (EBITDA margin: +120 bps to 18.2%, the highest since 2009), along with cost reduction (variable and fixed, supported by lower energy costs).

April 25, 2016 April 25, 2016 3 EN

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

Gamenet, Italy’s No. 3 gaming firm, reported good 2Q18 results with stable sales yoy at €148m and EBITDA up 9% yoy to €21m, giving a 14.5% LTM margin as of June 2018 against 13.2% as of December 2017. Once again, Gamenet has adjusted its sport betting payout (winnings returned to players), lowering it to 80.3% during the quarter from 85.7% last year, to mitigate the impact from the tightening of regulation on gaming machines initiated in May 2017.

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Joan Sehim

Joan Sehim

INTRALOT- Special Comment

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Benjamin Sabahi

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IQVIA- 2Q18 Comments

The world’s largest provider of healthcare information reported strong numbers for 2Q18. Reported revenues increased by 9% yoy in 2Q18 and +7.7% excluding FX. This was above market expectations and an intensification of the positive trends seen in 4Q17 (+5.5%) and 1Q18 (+5.2%) excluding FX impacts. This was down to a mix of accelerated organic growth coupled with M&A contributions, fully reflecting the investments in the next generation of clinical trials.

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CEMEX - 3Q16 RESULTS

Quarterly Comment: Cemex

CEMEX - 1Q16 RESULTS

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

INTRALOT- Special Comment

IQVIA- 2Q18 Comments

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