CEMEX, S.A.B. de C.V. ("CEMEX") (NYSE: CX), announced today that consolidated net sales reached U.S.$3.9 billion during the third quarter of 2012, an increase of 2% on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2011. Operating EBITDA increased by 9% during the quarter to U.S.$730 million versus the same period in 2011. On a like-to-like basis, operating EBITDA increased by 13% in the same period.
CEMEX’s Consolidated Third-Quarter 2012 Financial and Operational Highlights
- The increase in consolidated net sales on a like-to-like basis was due to higher prices in local currency terms in most of our regions.
- Operating income in the third quarter increased by 35%, to U.S.$410 million.
- Operating EBITDA increased during the quarter by 9% and, on a like-to-like basis, by 13%.
- Operating EBITDA margin grew by 1.8 percentage points on a year-over-year basis reaching 18.7%.
- The infrastructure and residential sectors were the main drivers of demand in most of our markets.
- Free cash flow after maintenance capital expenditures for the quarter was U.S.$204 million, compared with U.S.$102 million in the same quarter of 2011.
Fernando A. González, Executive Vice President of Finance and Administration, said: “We are pleased with our 13% growth in operating EBITDA, on a like-to-like basis, on the back of a 2% percent growth in consolidated net sales. This is the highest EBITDA generation since the third quarter of 2009 and the fifth consecutive quarter with a year-over-year EBITDA increase.
“An improvement in pricing and volume in several of our regions as well as the continued success of our transformation effort has led to the highest operating EBITDA margin in three years. We are particularly pleased with the quarterly performance of our operations in Mexico, United States and the South, Central America and the Caribbean and Asia regions.