GCC reports 12% rise in 3Q21 net sales

Mexico’s GCC has announced consolidated net sales of US$315.4m in the third quarter of 2021, up 12.2 per cent YoY on US$281.1m in the 3Q20.

EBITDA also advanced 10.2 per cent to US$110.1m from US$99.9m, while its EBITDA margin saw a modest decline to 34.9 per cent from 35.5 per cent.

“We are pleased with the results delivered despite supply chain and energy cost challenges. GCC is on track to meet our full-year guidance, assuming favorable weather conditions continue,” said Enrique Escalante, GCC's CEO.

"During the quarter, we reached positive net cash and our balance sheet is ready for growth to prepare GCC for a new phase of the industry's cycle."

US cement volumes increased 9.7 per cent YoY, as prices in the region were also up 10.3 per cent.