Cemex LatAm Holdings sees improved profitability in most markets

Cemex Latin American Holdings (CLH) has reported 10 per cent increase in turnover for 2013 against the pro-forma numbers for the previous year and improved profitability was seen in most of Cemex LatAm's markets.

EBITDA increased by 16 per cent driven by higher volumes, along with lower maintenance and fuel costs and lower distribution expenses, compared to pro forma 2012. EBITDA margins increased by 1.8 percentage points reaching 36.2 per cent, compared to 2012. The increased profitability came on the back of better volumes as well as lower maintenance, fuel and distribution costs.  Net debt at the end of December stood at US$1304m.

Commenting on the full year performance, Carlos Jacks, CEO of CLH, said: “We are pleased with our results in 2013. In just three years, on a pro forma basis, we essentially doubled our operating EBITDA generation with an important increase in profitability. Since 2010 we have improved our asset base, reshaped our commercial offer and optimised our cost structure, resulting in sustained value creation for our stakeholders.”

In the fourth quarter, the EBITDA increased by 12.3 per cent to US$119m, while in Panama there was a nine per cent reduction to US$25m, though the turnover did increase by six per cent. In Costa Rica,  EBITDA jumped by some 40 per cent to US$17m on a turnover 12 per cent ahead at US$38m. Other markets generated a turnover of US$64m, with the EBITDA improving by five per cent to US$18m.