Cemex - February 2014

Cemex' turnover improved by 1.6 per cent in 2013 to US$15,226.5m and the EBITDA emerged 0.7 per cent ahead at US$2,643.0m, while the trading profit advanced by 17.4 per cent to US$1517.8m. The net interest charge rose yet again and was up by 11.1 per cent to US$1551.5m. Meanwhile, the pretax loss was reduced by 34.3 per cent to US$264.6m and the net attributable came down by 7.6 per cent to US$843.1m. Net debt, including perpetual notes, increased by four per cent during the year to US$16,306m. Shareholders' funds were seven per cent lower than a year earlier at US$10,220.6m, giving a gearing level of 159.5 per cent compared with 129.4 per cent a year earlier. Some 87 per cent of the debt was denominated in US dollars, compared with 11 per cent in euros and two per cent in Mexican pesos. Capital expenditure in the year was 0.5 per cent lower at US$606m.

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