Cemex sees 1Q sales up 51 per cent
Cemex said it expects first quarter sales to rise 51 per cent. It said sales for the period will come in higher than $3.9bn. Cemex also said it expects EBITDA to be about US$800m for the first quarter, up about 26 per cent from the year-ago period.
"On a pro-forma basis and including the effect of the RMC consolidation for January and February 2005, net sales and EBITDA for this quarter are expected to increase nine per cent and 23 percent, respectively, in dollar terms," Cemex said.
Cemex said operating income, or EBIT, was about $550m for the first quarter, up 25 per cent. The company is due to report its first-quarter results in April.
"Our main markets continue to show strong operating performance, increasing our confidence that we will achieve our stated target EBITDA of $4bn for this year," chief financial officer Rodrigo Trevino said.
In its home market Mexico, Cemex expects cement and ready mix volumes to increase seven per cent and 30 perc ent respectively, from January-March 2005.
In the United States, cement volumes are seen rising 15 per cent in the first quarter. ready mix volumes are expected to soar 52 per cent. With the RMC acquisition, Cemex added to its existing US operations.
Cemex’s unit in Spain sees cement volumes increasing eight per cent in the quarter and ready mix volumes up 35 per cent. In Britain, cement and ready mix volumes for the quarter are seen rising about two and five per cent, Cemex said.
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