Cemex - October 2015

During the first nine months of the year, Cemex' turnover declined by 7.2 per cent to US$10,722.4m while EBITDA was 1.4 per cent lower at US$1974.3m. The trading profit, however, advanced by 5.8 per cent to US$1264.6m while the net interest charge declined by 24 per cent to US$962.4m. The pretax profit improved by 41.1 per cent to US$166m. A 43.5 per cent lower tax charge led to the net attributable loss shrinking from US$325.9m to US$77.3m. The net debt at the end of September was 5.2 per cent lower than a year earlier at US$15,124m, giving a gearing level of 183.5 per cent compared with 157 per cent a year earlier. However, only 2.5 per cent of the gross debt is short term. The number of employees at the end of September was 0.1 per cent higher at 42,857. In the full year, Cemex is expecting capital expenditure to reach around US$800m, of which US$500m would be for maintenance.

To continue reading this story and have 100% free access to the CemNet.com website, please Register for a subscription to International Cement Review or Login