Cement News tagged under: Mexico

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Cemex first quarter sales fall 8% in 1Q13

29 April 2013, Published under Cement News

Cemex' first quarter turnover declined by 5.3 per cent to US$3318.6m, while the EBITDA came off by 8.1 per cent to US$521.1m. Volumes were ahead in the USA and in the Philippines, but declined in most other markets. The trading profit was off by just 0.5 per cent to US$239.1m. The net interest charge increased by 9.7 per cent to US$360.7m, giving an underlying pre-tax loss 33.3 per cent higher at US$141.1m. Once the results from financial instruments and foreign exchange movements are tak...

GCC posts quarterly first quarter net loss, Mexico

29 April 2013, Published under Cement News

Mexican cement producer Grupo Cementos de Chihuahua (GCC) posted a net loss of MXN98.6m (US$8.1m) in 1Q13 down from MXN109m in the same period of last year. Unfavourable winter weather conditions in the US, the firm's largest market, and the peso appreciation against the US dollar negatively impacted the 1Q13 top line, with sales decreasing to MXN1.44bn from MXN1.5bn a year earlier. Operating costs also rose 2.8 per cent YoY as the operative result went into the red, dropping to MXN8m. ...

Cemex prices US$600m in notes, Mexico

15 March 2013, Published under Cement News

Cemex on Thursday priced six-year secured notes for US$600m to pay down debt. The notes, due 2019, to be issued at par, will pay annual interest of 5.875 per cent and will be callable after three years. It expects the sale to close on 25 March, the Mexican cement major said in a statement. The company plans to use about US$55m to pay off a 2009 financing agreement and the rest for other purposes including reducing additional debt. Meanwhile, Cemex invited holders of around EUR430m in...

Cemex full-year turnover eases, EBITDA improves

08 February 2013, Published under Cement News

Cemex has reported its full-year 2012 results which show decline in turnover but advance in EBITDA. Net debt is reduced but interest charge and gearing rise. Cemex' turnover eased by 1.5 per cent in 2012 to US$14,983.8m, but EBITDA did improve by 10.2 per cent to US$2614.7m and the trading profit advanced by 35.3 per cent to US$1308m, having recovered by 12.2 per cent in the previous year from its low point. The net interest charge continued to rise and was ahead by five per cent to US$14...

Cemex expected to narrow fourth-quarter loss

06 February 2013, Published under Cement News

Cemex is expected to narrow its net loss in the fourth-quarter of 2012 from a year earlier, helped by improved performance in its main US market and cost reduction. A Reuters poll showed six analysts on average forecast that Cemex lost US$47m in the October-December period, compared with a net loss of US$146m in the same period of 2011. Analysts' forecasts ranged from earnings of US$77m to a loss of US$134m.

Holcim Apasco: cement consumption in Mexico expanded 3.5% in 2012

29 January 2013, Published under Cement News

Holcim’s Mexican arm, Holcim Apasco, estimates that cement demand in the country grew 3.5 per cent in 2012 compared to 2011. The cement major said the increase in consumption, which reached 35Mt last year, was driven by stronger growth in the infrastructure segment, moderate expansion in self-build housing as well as the construction of industrial buildings, offices and shopping centres. Gustavo Gastelum, the company’s director of external relations and communications, said that recent ...

Lafarge announces joint venture with Elementia, Mexico

09 January 2013, Published under Cement News

Lafarge announces it has reached an agreement with Elementia to combine their cement assets in Mexico. Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1Mta, while Elementia will contribute the new 1Mta plant it is currently building in central Mexico. This combination will significantly strengthen Lafarge's position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in 2H13, pursuant to the start...

Agencies withdraw ratings for Apasco’s bonds, Mexico

20 December 2012, Published under Cement News

Fitch Ratings and Standard & Poor's have withdrawn their AAA ratings for the MXP950m (US$74.5m) receivables-backed bonds issued by cement manufacturers Cementos Apasco and Concretos Apasco following repayment in full of the issuance, according to reports from the ratings agencies. The companies, subsidiaries of Holcim Apasco, repaid the issuance on 17 December, prior to the November 28, 2013 maturity date.

Cemex completes financial plan for 2012

18 December 2012, Published under Cement News

Cemex announced today the completion of its financial plan for 2012, which included several transactions to refinance and/or prepay debt scheduled to mature through 2014, thereby increasing the company’s financial flexibility and significantly reducing its refinancing risk. Under this year’s financial plan, Cemex reduced the amount of debt maturing through March 2015 to about US$650m, at currently prevailing foreign-exchange rates, of which approximately US$600m matures during the first qu...

Cemex to return to profitability in 2013?

21 November 2012, Published under Cement News

Mexican cement producer Cemex is seen on track to return to profitability as soon as 2013, according to analysts quoted by Reuters. The company recently refinanced US$6.7bn in debt, negotiating much-need room to push back looming payments for up to four years. Measures included a commitment to pay down US$1bn in March of next year, revised financial covenants and a debt swap, all of which have put relations with investors on a more comfortable footing.  In addition, Cemex floated its C...