Wednesday, February 1, 2023

Become part of our community

captcha 
Cemex LatAm Colombia Cement Plant Cemex LatAm Colombia Cement Plant Source: Cemex LatAm Holdings

Cemex LatAm 3Q 2021 Net Loss Improves Year-on-Year

Published in Companies Written by  October 28 2021 font size decrease font size increase font size 0
Rate this item
(1 Vote)

Colombia-based Cemex LatAm Holdings – producer of cement, concrete and aggregates in six Latin American nations – on October 27 reported a third quarter (3Q) 2021 net loss of US$10.6 million, a big improvement over the US$110 million net loss in 3Q 2020.

Corporate-wide operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose to US$56 million, up from US$50 million in 3Q 2020.

Net sales also improved year-on-year, to US$235 million, from US$209 million in 3Q 2020, once adjusting for foreign-currency fluctuations.

“Higher volumes in Costa Rica, Nicaragua, and Panama, as well as higher prices in Costa Rica and the ‘rest of CLH region’ [including Nicaragua, Guatemala, El Salvador], were the main drivers of the improvement,” according to the company.

In Colombia, “we estimate that our quarterly cement volumes slightly underperformed the industry on a year-over-year basis mainly due to our pricing strategy and competitive dynamics,” according to Cemex.

“In our ready-mix business [in Colombia], volumes improved 31% on a sequential basis, mainly due to a recovery in formal-sector activity and a base effect stemming from the protests that occurred mainly in May.

“We believe the outlook for cement volumes remains favorable [in Colombia], supported by record home sales, the resilience of the self-construction sector, the execution of the existing fourth-generation highway projects, as well as the rollout of new infrastructure programs,” the company added.

Colombia net sales for 3Q 2021 rose to US$117 million, versus US$115 million in 3Q 2020, but operating EBITDA dipped 5%, to US$27 million. Gray-cement prices in Colombia during 3Q 2021 fell 4% while aggregates dipped 1%, but ready-mix concrete prices stayed flat year-on-year.

Read 268 times Last modified on Last modified on October 28 2021

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

Medellin Herald welcomes your editorial contributions, comments and story-idea suggestions. Send us a message using the "contact" section.

Contact US

logo def
Medellin Herald: Find news, information, reviews and opinion on business, events, conferences, congresses, education, real estate, investing, retiring and more.
  • COL (4) 386 06 27
  • USA (1) 305 517 76 35
  •  www.medellinherald.com 
  •  This email address is being protected from spambots. You need JavaScript enabled to view it. 
  • Medellin, Antioquia, Colombia

Medellín Photo Galery

Medellin, contrasting colors and styles by Gabriel Buitrago

MPGMPGMPGMPGMPGMPGMPGMPGMPGMPGMPGnav