Cemex Philippines sees 6% in 1Q turnover

Cemex Philippines sees 6% in 1Q turnover
27 April 2018

Cemex Philippines 1Q18 turnover amounted to US$113.6m, an increase of six per cent, while in peso terms this amounts to a 9.9 per cent advance to PHP5891m. EBITDA declined by 17.3 per cent to PHP886m, which translates into a 20.1 per cent reduction to US$17.1m.  The pretax profit dropped by 77.4 per cent to US$2m and the net attributable loss was odd by 72.3 per cent to US$1.9m.

Cement shipments increased by 16 per cent as production volume advanced by 19 per cent thanks to the de-bottlenecking efforts. The competitive market, however, led to lower prices, amounting to a five per cent reduction in pesos and an eight per cent decline when measured in US dollars.

A new production line is set to come on-stream during the first quarter of 2020.

Published under Cement News