Higher cement volumes drive Elementia’s 4Q and full-year revenue growth

Mexico-based Elementia reported consolidated revenues for 4Q15 rose by five per cent YoY to MXP4.02bn and by 11 per cent over the full year to MXP15.33bn, mainly due to higher volume sold by its cement division.

In line with management expectations, revenues from the cement business for the full year totalled MXP2.37bn, a 36 per cent increase compared to MXP.175bn a year earlier. This was mainly due to price and volume increases of 13 and 20 per cent, respectively, when compared to the same period of 2014.

Fourth-quarter revenues rose 35 per cent YoY MXP653m, mainly due to a 22 per cent average price increase and a 10 per cent rise in sales volumes, as well as an improved product mix in line with higher capacity utilisation rates.

Cement EBITDA for 12M15 was MXP942m, an increase of 65 per cent YoY, driven by volume and price increases as well as improvements in production and energy costs. As a result, the EBITDA margin increased by seven percentage points to reach 40 per cent in December 2015 and 39 per cent in the final quarter of the year.