“Last year, we continued to successfully access the capital markets, issuing US$3.1 billion in four separate transactions. Our financial initiatives done during the year are expected to represent annual cash interest savings of approximately US$55 million. We are pleased with the way our credit continues to re-rate.
“We also remain focused on value creation, proactively improving our operating performance by focusing on pricing, value-added products and services, maintaining our cost discipline and outsourcing support activities, while at the same time we continue to look for ways to optimize our portfolio.”
Consolidated Corporate Results
During the fourth quarter of 2013, controlling interest net income was a loss of U.S.$255 million, an improvement over a loss of U.S.$494 million in the same period last year.Total debt plus perpetual notes increased by U.S.$340 million during the quarter. Geographical Markets Fourth-Quarter 2013 Highlights Net sales in our operations in Mexico decreased 6% in the fourth quarter of 2013 to U.S.$785 million, compared with U.S.$832 million in the fourth quarter of 2012. Operating EBITDA decreased by 17% to U.S.$247 million versus the same period of last year. CEMEX’s operations in the United States reported net sales of U.S.$819 million in the fourth quarter of 2013, up 8% from the same period in 2012. Operating EBITDA increased to U.S.$77 million in the quarter, versus a gain of U.S.$13 million in the same quarter of 2012. In Northern Europe, net sales for the fourth quarter of 2013 increased 5% to U.S.$1.1 billion, compared with U.S.$1.0 billion in the fourth quarter of 2012. Operating EBITDA was U.S.$79 million for the quarter, 1% lower than the same period last year. Fourth-quarter net sales in the Mediterranean region were U.S.$394 million, 11% higher compared with U.S.$354 million during the fourth quarter of 2012. Operating EBITDA decreased 5% to U.S.$78 million for the quarter versus the comparable period in 2012. CEMEX’s operations in South, Central America and the Caribbean reported net sales of U.S.$577 million during the fourth quarter of 2013, representing an increase of 11% over the same period of 2012. Operating EBITDA increased 15% to U.S.$183 million in the fourth quarter of 2013, from U.S.$159 million in the fourth quarter of 2012. Operations in Asia reported a 4% decrease in net sales for the fourth quarter of 2013, to U.S.$133 million, versus the fourth quarter of 2012, and operating EBITDA for the quarter was U.S.$32 million, up 12% from the same period last year. CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future.