Cemex 3Q17 net sales total US$3.5bn

Cemex announced that its consolidated net sales reached US$3.5bn during the 3Q17, representing an increase of two per cent, or an increase of one per cent on a like-to-like basis, versus the comparable period in 2016. Operating EBITDA decreased by eight per cent during the quarter to US$702m versus the same period in 2016.

Fernando A Gonzalez, Cemex Chief Executive Officer, said: "We are pleased with the double-digit, year-to-date growth in operating EBITDA in our two largest markets: Mexico and the US, which represent about two-thirds of our total EBITDA generation.

"In addition, our debt leverage during the quarter reached 3.98 times during the quarter. This is the first time that our leverage ratio falls below four times since the 3Q08. This will continue contributing to further savings in our financial expenses. I’m particularly encouraged with our net income reaching US$916m during the first nine months of 2017. This is the highest year-to-date net income in almost 10 years."

During the third quarter of 2017, controlling interest net income was US$289m, an improvement over US$286m in the same period last year. Total debt plus perpetual notes decreased by US$369m during the quarter and by US$1.5bn during the first nine months of the year.

Geographical markets
Cemex net sales in Mexico increased one per cent on a like-to-like basis in the third quarter of 2017 to US$782m, compared with US$732m in the 3Q16. Operating EBITDA increased by seven per cent on a like-to-like basis to US$302m versus the same period of last year.

Cemex's subsidiaries in the United States reported net sales of US$916m in the 3Q17, an increase of two per cent on a like-to-like basis from the same period in 2016. Operating EBITDA increased one per cent on a like-to-like basis to US$160m in the quarter.

Cemex’s operations in South, Central America and the Caribbean reported net sales of US$472m during the third quarter of 2017, representing a decrease of six per cent on a like-to-like basis over the same period of 2016. Operating EBITDA decreased 28 per cent on a like-to-like basis to US$113m in the 3Q17, from US$145m in the 3Q16.

In Europe net sales for the third quarter of 2017 increased two per cent on a like-to-like basis to US$948m, compared with US$887m in the 3Q16. Operating EBITDA was US$129m for the quarter, seven per cent lower on a like-to-like basis than the same period last year.

Operations in Africa, Middle East and Asia reported a one per cent increase in net sales on a like-to-like basis for the third quarter of 2017, to US$346m, versus the 3Q016, and operating EBITDA for the quarter was US$57m, down 41 per cent on a like-to-like basis from the same period last year.