Cemex’s sales fell by 10% in the first quarter of 2010, compared to the same period last year, to US$3billion, while EBITDA was also down 23% at US$515million. The company has said that the decline was mainly due to lower sales in the US, Mexico and Europe but these were partly offset by higher prices in several markets. Consolidated cement sales volumes decreased 6% versus the same period in 2009, while ready-mix and aggregates sales volumes decreased 16% and 13%, respectively.
Cemex’s sales fell by 10% in the first quarter of 2010, compared to the same period last year, to US$3billion, while EBITDA was also down 23% at US$515million. The company has said that the decline was mainly due to lower sales in the US, Mexico and Europe but these were partly offset by higher prices in several markets.
Consolidated cement sales volumes decreased 6% versus the same period in 2009, while ready-mix and aggregates sales volumes decreased 16% and 13%, respectively.
Cemex executive vice president of planning and finance Fernando A. Gonzalez said, “The results of the quarter reflect the ongoing challenges posed by the effects of the global economic slowdown, as well as unfavourable weather conditions in the US and Europe. Our ongoing efforts to reduce costs and optimise the efficiency of our operations are progressing well and we continue to build upon on our goals of becoming a leaner, more agile company. We continue to make progress in mitigating our refinancing risk and lengthening our debt maturity profile. Today, we are well placed to take advantage of the potential recovery in some of our key markets.”
