Cementos Chihuahua sees 58% EBITDA hike in 4Q17

Cementos Chihuahua increased its EBITDA by 58.4 per cent YoY in the 4Q17 due to higher cement and concrete sales in Mexico and the USA as well as a 6.2 per cent cement price increase, according to a company statement to the Mexican Stock Exchange.

"In the United States, sales increased 29.8 per cent and accounted for 76 per cent of Cementos Chihuahua's consolidated net sales. In Mexico, fourth-quarter sales increased 22.6 per cent and accounted for 24 per cent of net sales," said the statement.

Revenues of Cementos Chihuahua increased 28 per cent, closing the last month of the year at US$238m, while its net profit increased 191 per cent to US$29m.

"The segments with the most dynamism in the American market were the drilling of oil wells, the residential sector, as well as public construction. While in Mexico they were the demand of the mining sector, self-construction and the culmination of industrial projects, such as a brewing plant, compensated for the decrease in the public sector ", the filing added.