Cemex - February 2015
Cemex' turnover improved by 3.2 per cent in 2014 to US$15,708.5m and EBITDA advanced by 3.7 per cent to US$2740.5m, while the trading profit rose by 12.3 per cent to US$1275.6m. The net interest charge rose yet again and was up by 4.3 per cent to US$1608.4m, while the pretax loss was reduced by 53.2 per cent to US$124m and the net attributable loss emerged 39.8 per cent lower at US$507.3m. Net debt, including perpetual notes, declined by 6.7 per cent during the year to US$16,291m, with 71 per cent of the debt being at fixed rates. Shareholders' funds were 1.7 per cent lower than a year earlier at US$131,103.4m, giving a gearing level of 124.3 per cent compared with 159.5 per cent a year earlier. Some 88 per cent of the debt was denominated in US dollars, compared with 10 per cent in euros and two per cent in Mexican pesos. Capital expenditure in 2014 was 26.3 per cent higher at US$765m and Cemex expects to spend around US$800m in 2015.