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A quick breakdown of Cemex’s 2017 fourth quarter

By |  February 11, 2018

Cemex‘s consolidated net sales increased 4 percent during the fourth quarter of 2017, and they increased 3 percent for all of 2017 to $13.7 billion versus 2016.

Operating earnings before interest, tax, depreciation and amortization (EBITDA) decreased 7 percent during the fourth quarter of 2017 to $625 million. Operating earnings before EBITDA decreased 6 percent for the full year to $2.6 billion versus 2016.

“Although 2017 was a challenging year, our two largest markets, Mexico and the United States, performed well with like-to-like increases in their EBITDA,” says Fernando Gonzalez, CEO of Cemex. “We also generated free cash flow after maintenance capex of close to $1.3 billion, with a 50 percent EBITDA-to-free-cash-flow conversion rate and which, together with our asset-divestment initiatives, resulted in pro-forma debt reduction of close to $2.1 billion during the year.

During the fourth quarter of 2017, Cemex’s controlling interest net loss was $105 million, versus an income of $214 million in the same period last year. Controlling interest net income for the full year improved to $806 million from $750 million in 2016.

In the fourth quarter, Cemex’s operations in the United States reported net sales of $838 million. That’s an increase of 4 percent on a like-to-like basis from the same period in 2016. Operating EBITDA decreased by 5 percent on a like-to-like basis to $158 million in the quarter, versus $180 million in the same quarter of 2016.

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Kevin Yanik

About the Author:

Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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