Cemex Latam Holdings SA reported that the company's consolidated net sales and EBITDA in the 4Q20 fell by three and one per cent, respectively, compared to the 4Q19.
Jesús González, CEO of Cemex Latam Holdings, commented: "I am proud of how the organisation responded to the challenge of the sudden arrival of COVID-19 in our footprint. We reacted quickly and forcefully to a highly uncertain situation, prioritising the safety of our employees and customers while ensuring business continuity and financial flexibility. In a challenging year , we achieved a margin expansion of 2.1 percentage points, a 45 per cent free cash follow to EBITDA conversation rate and an 11 per cent reduction in net debt.
“Regarding sustainability, we advanced decisively in our efforts during 2020. We increased our alternative fuel substitution rate by seven percentage points and reduced our clinker factor by two percentage points YoY.”
Geographical 4Q20 results
Operating EBITDA in Colombia totalled US$30m, one per cent higher compared to 4Q19. Net sales rose by one per cent on 4Q19 to US$120m.
In Panama operating EBITA totalled US$4m in the 4Q20 while net sales reached US$23m, down 40 per cent on 4Q19.
In Costa Rica operating EBITDA reached US$8m, 34 per cent higher than in the 4Q19. Net sales reached US$22m, seven per cent higher than in the 4Q19.
In the rest of Cemex Latam Holding areas, operating EBITDA rose by 20 per cent in the 4Q20 to US$16m. Quarterly net sales totalled US$58m, up 12 per cent on the 4Q19.
