Cemex has just announced that consolidated net sales in the third quarter of 2005 grew 110 per cent to US$4.3bn compared to the same quarter of 2004. This increase is primarily a result of the effect of the incorporation of RMC into Cemex’s consolidated results.
Sales increased in the majority of Cemex’s markets due to higher cement, ready mix and aggregates volume. Infrastructure spending remains one of the main drivers of cement and ready-mix demand throughout Cemex’s markets, as was residential construction, driven largely by the prevailing low interest rate environment worldwide.
Cemex’s consolidated cement volume increased 27 per cent to 22Mt, while consolidated ready-mix volume grew 225 per cent to 20.2 million cubic meters. The Company’s consolidated aggregates volume increased 289 per cent to 48Mt, over the third quarter of 2004.
Hector Medina, Executive Vice President of Planning and Finance, said: "Our business showed continued strength in the third-quarter as we achieved significant increases in net sales and operating income. The results for the quarter reflect continued underlying growth in our core markets, as well as contributions from the recently integrated RMC operations. We are pleased to report the achievement of a 2.6 times net debt to EBITDA ratio only seven months after we completed the acquisition of RMC, one quarter ahead of schedule."
