Cemex - October 2016

During the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per cent, leading to a net attributable loss being turned into a US$533.6m profit. The net debt at the end of September was 10.4 per cent lower than a year earlier at US$13,965m, giving a gearing level of 163.9 per cent compared with the 183.5 per cent shown a year earlier. However, only three per cent of the gross debt is short term. The number of employees at the end of September was 0.3 per cent lower at US$42,484. In the full year, Cemex is expecting capital expenditure to reach around US$700m, of which some US$460m would be for maintenance.

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