Cemex - April 2016
Cemex' 1Q16 turnover declined by 3.5 per cent to US$3198.02m, but EBITDA improved by 3.1 per cent to US$582.52m, helped by a 1.7 per cent reduction in the depreciation and amortisation charge while the trading profit rose by 6.6 per cent to US$357.88m. The net interest charge declined by 21.1 per cent to US$262.35m and the pretax result went from a US$29.40m loss to a profit of US$90.24m. The effective net debt was 6.6 per cent lower at US$14,726m, of which 83 per cent was in US dollar, 10 per cent in euro and one per cent in Mexican peso, with 75 per cent of the debt being at fixed rates. Equity shareholders' funds were three per cent lower, compared with an 18 per cent reduction with a year earlier, at US$8175.6m, giving a gearing level of 180.1 per cent, compared with 187.2 per cent a year earlier.