CEMEX reports ongoing fall in sales

Published:  28 April, 2010

MEXICO: CEMEX has announced that consolidated net sales decreased 10% in the first quarter of 2010 to approximately US$3bn against the comparable period in 2009.

EBITDA decreased 23% in the first quarter of 2010 to US$515m against the same period in 2009. Consolidated cement sales volumes decreased 6% versus the same period in 2009, while ready-mix and aggregates sales volumes decreased 16% and 13%, respectively.

The decline in sales during the first quarter of 2010 was due primarily to lower volumes in Mexico, the US and Europe, partly offset by higher prices in several markets.

The infrastructure sector continues to be the main driver of demand in most of the relevant markets.

Fernando A  Gonzalez, executive vice president of planning and finance, said: “The results of the quarter reflect the ongoing challenges posed by the effects of the global economic slowdown, as well as unfavorable weather conditions in the US and Europe.

"Our ongoing efforts to reduce costs and optimise the efficiency of our operations are progressing well and we continue to build upon on our goals of becoming a leaner, more agile company. We continue to make progress in mitigating our refinancing risk and lengthening our debt maturity profile. We are now well placed to take advantage of the potential recovery in some of our key markets.”

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