Cemex - April 2013

Cemex's first-quarter turnover declined by 5.3 per cent to US$3318.6m, while the EBITDA came off by 8.1 per cent to US$521.1m. The trading profit was off by just 0.5 per cent to US$239.1m. The net interest charge increased by 9.7 per cent to US$360.7m, giving an underlying pre-tax loss 33.3 per cent higher at US$141.1m. Once the results from financial instruments and foreign exchange movements are taken into account, there was a swing from a US$58.7m profit into a US$150.9m loss. The effective net debt was 6.5 per cent lower at US$16,528m, of which 85 per cent was in US dollars, 13 per cent in euro and two per cent in Mexican peso. Equity shareholders' funds were 0.6 per cent higher than with a year earlier at US$12,301.8m, resulting in a gearing level of 134.4 per cent, down from 149.2 per cent a year earlier.

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