Cemex Latam Holdings net sales down 23% in Q3 2015 to US$354 million

643 Cemex Latam Holdings (CLH) net sales reached US$354 million during the third quarter of 2015, a decrease of 23% versus the third quarter of 2014. The decline is being mainly explained by the Mexican construction materials’ firm as due to currency fluctuations and lower sales in its operations in Colombia and Panama.

Operating CLH EBITDA, also adjusted for currency fluctuations, declined by 10% during the third quarter of 2015 compared with the same period in 2014.

During the third quarter of 2015, consolidated domestic grey cement, ready-mixed and aggregates volumes decreased by 5%, 8% and 7% respectively, compared to the same period last year.

Carlos Jacks, CEO of CLH, said: “We are pleased with the performance of our operations in Costa Rica, Nicaragua and Guatemala. Additionally, our cement volumes in Colombia continued with a positive trend in the third quarter, increasing by 7% and 18% compared to the second and first quarter of this year respectively.

“We have seen progress towards improving our profitability, which has been affected by the severe depreciation of the Colombian peso. Despite of the challenging economic environment, we remain confident on the fundamentals of our markets and the opportunities they offer to our company.”