Cemex has announced its 1Q21 results with EBITDA growing on a YoY basis in all regions. Consolidated net sales increased nine per cent to US$3.4bn. Operating EBITDA improved 28 per cent to US$684m, while the EBITDA margin increased to 20.1 per cent, 2.8 percentage points higher year over year.
Net debt and leverage were reduced materially during the first quarter. Net debt plus perpetuals fell by US$547m, while leverage ratio was reduced to 3.61 times, almost half-a-turn reduction compared to the 4Q20.
"We are quite pleased with our first quarter results where we achieved some important milestones and advanced significantly against our Operation Resilience goals, despite persistent challenges from COVID-19 in many markets” said Fernando A González, CEO of Cemex. “First quarter performance convinces me that we should be entering a period of sustainable growth for our major markets and we will likely reach two of our Operation Resilience goals well in advance of the 2023 timetable: achieving an investment grade capital structure and a higher than 20 per cent consolidated EBITDA margin."
