3Q14 results: Cemex’ gearing stands at 157%

 3Q14 results: Cemex’ gearing stands at 157%
Published: 24 October 2014

Tagged Under: 3Q14 Cemex business results 

During the first nine months of the year, Cemex’ turnover increased by 4.6 per cent to US$11,870.9m while the EBITDA was 1.8 per cent higher at US$2037.1m. The trading profit advanced by 24.2 per cent to US$1150.2m and the net interest charge rose by 11.2 per cent to US$1266.6m. The pretax result went from a US$174.3m loss to a profit of US$132.2m. A 7.1 per cent lower tax charge led to a net attributable loss 44.5 per cent lower at US$325.9m. The net debt at the end of September was 1.8 per cent lower than a year earlier at US$15,944m, giving a gearing level of 157 per cent, compared with 151 per cent a year earlier. However, only six per cent of the gross debt is short term. The number of employees as the end of September was 2.8 per cent higher at 44,055. In the full year, Cemex is expecting capital expenditure to reach US$765m, of which US$505m is for maintenance.

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