A senior Cemex figure believes 2012 was a “year of recovery” for the Mexican construction materials giant. Fernando A.González, Cemex executive vice president of finance and administration, was speaking after the publication of new figures revealed how the company’s year-on-year net sales declined by 2% to US$15 billion in 2012 – but its EBITDA increased by 10% to $2.6 billion. Further figures released revealed Q4 2012 net sales were stable at US$3.7 billion, while operating EBITDA increased by 13% to $611
A senior Cemex figure believes 2012 was a “year of recovery” for the Mexican construction materials giant.
Fernando A.González, Cemex executive vice president of finance and administration, was speaking after the publication of new figures revealed how the company’s year-on-year net sales declined by 2% to US$15 billion in 2012 – but its EBITDA increased by 10% to $2.6 billion.
Further figures released revealed Q4 2012 net sales were stable at US$3.7 billion, while operating EBITDA increased by 13% to $611 million. Meanwhile, operating earnings before other expenses over the last three months of 2012 increased year-on-year by 26%, to $285 million, and by 35% to $1.3 billion for the whole of 2012.
The infrastructure and residential sectors are said by Cemex to have been the main drivers of its trading performance.
González said: “2012 was a year of recovery for Cemex. During the year, we achieved the highest EBITDA generation and operating EBITDA margin since 2009, and the fourth quarter was the sixth consecutive quarter with a year-over-year EBITDA increase. We are particularly pleased with the quarterly performance of our operations in the United States, and the South, Central America and Caribbean and Asia regions.”
On other areas of Group business, González said “decisive steps” had been taken to improve Cemex’s debt maturity profile and strengthen its capital structure. He added: “We have now addressed all our required amortizations under the new Facilities Agreement until February 2017. Today, we are not only in a better shape financially, but we are also much more agile and flexible operationally.”
