Mexico remained the largest source of profit, accounting for 28.7% of EBITDA, ahead of Europe with 26.0% and the United States with 23.2%. Cement shipments in the period increased by 2.1% to 66.08m tonnes, while ready-mixed concrete deliveries were 6.1% higher at 58.80m m³ and the aggregates tonnage rose by 25.3% to 155.55m tonnes, with the downstream activities having been substantially boosted by the Rinker deal.
Mexican turnover increased by 7.8% to US$2,842.8m as construction activity remained healthy, but some increase in capacity has affected prices which, in current peso terms, declined by 3% in the past quarter and by 1% in the year to date. The EBITDA improved by 2.4% to US$1,037.1m. Domestic cement deliveries were up by around 5% with cement prices some 5% higher in US dollar terms, but down by 1% in constant peso terms. Ready-mixed concrete deliveries rose by 9% with constant peso prices being an average 2% higher and aggregates shipments advanced strongly by 70% and prices rose by a quarter in constant peso terms.
In the USA cement demand was depressed by the severe housebuilding recession and underlying cement shipments fell by 18%, though the drop in group volumes was limited to some 9% thanks to the initial consolidation of Rinker. US cement prices, however, continued to improve and rose by an average 5%. Ready-mixed concrete deliveries fell by 21% on a comparative basis, with prices edging up by 2% as higher cement prices worked their way through the system. In aggregates, the 12% underlying decline was turned into a 48% increase as a result of taking Rinker on board and the average price showed a 6% increase. The US turnover emerged 7% higher at US$3,474.6m, with a 57% boost in the third quarter as Rinker was added, while the EBITDA was 12.2% lower at US$839.9m and the decline was more marked at the trading level with a 26.0% drop to US$551.4m.
