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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 Cemex’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 al...
CEMEX - 1Q16 RESULTS
​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...
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