Cemex SA Sees 2Q EBITDA exceeding $970m

Cemex SA Sees 2Q EBITDA exceeding $970m
Published: 20 June 2005

Cemex expects to exceed its full-year target of $3.5bn in EBITDA.

In April, Cemex raised its 2005 EBITDA estimate to US$3.5bn from US$2.6bn to reflect the March acquisition of RMC Group of the UK. The company’s 2004 EBITDA was $2.54bn. 

In a press release Monday, the maker of cement and ready-mix products said it expects second-quarter EBITDA of more than $970m, a 53 per cent rise from year-earlier EBITDA of $635m. 

Cemex also forecast second-quarter revenue of about $4.4bn, compared with $1.9bn a year ago.

For the six months ended June 30, Cemex expects EBITDA of more than $1.6bn and revenue of about $7bn, increases from the year ago of 35% and 86%, respectively. 

"We are pleased by our consolidated performance for the first half of the year," Chief Financial Officer Rodrigo Trevino said in the release. 

"This gives us greater confidence in our ability to exceed our targeted EBITDA of $3.5 billion for the full-year 2005," he added.