Cemex Latam Holdings reports consolidated 3Q19 sales of US$245m

Cemex Latam Holdings SA reports that its consolidated net sales reached US$245m during the 3Q19, a fall of 12 per cent in US-dollar terms or four per cent in local currency terms, compared to 3Q18. Operating EBITDA totalled US$46m during the 3Q19, down 26 per cent in US-dollar terms YoY.

Consolidated domestic grey cement sales volumes increased by one per cent, while ready-mix and aggregates declined by nine per cent compared to 3Q18. Consolidated prices in local currency for grey cement and ready-mix fell by one per cent and two per cent, respectively. Aggregate prices increased by one per cent in 3Q19 on a year- over year basis.

Jesus Gonzalez, CEO of Cemex Latan Holdings said: "We are encouraged by the positives trends in Colombian cement demand and by our cement volume and price performance in this country during the first nine months of the year. Nevertheless, this positive trend was not strong enough to offset the increases in coal, electricity and distribution costs in Colombia, and the much weaker markets of Central America...

"We reduced net debt by our net debt US$62m, from US$827m as of December to US$765m as of September."

Regional Highlights
Colombia
Operating EBITDA in Colombia totalled US$20m, 25 per cent down in US-dollar terms or 12 per cent in local currency terms, compared to 3Q18. Net sales fell by six per cent YoY in US-dollar terms or increased by eight per cent in local-currency terms to US$127m.

Panama
Operating EBITDA declined by 18 per cent to US$14m in 3Q19. Net sales reached US$45m, down 22 per cent compared to 3Q18.

Costa Rica
Operating EBITDA reached US$5m in 3Q19, 58 per cent lower in US dollar terms and local currency terms YoY. Net sales reached US$25m, down 25 per cent in US dollar terms and 24 per cent in local currency terms, compared to 3Q18.

Rest of Cemex Latam Holdings
In the rest of Cemex Latam Holdings, Operating EBITDA fell by 15 per cent in US dollar terms and by 13 per cent in local currency terms YoY. Net sales reached US$51m, down nine per cent in US dollar terms and six per cent in local currency terms, compared to 3Q18.