Cemex recorded net attributed profits of 981.7 million dollars (877 million euros) until September, which represents a year-on-year decrease of 25.4%, according to the Mexican cement company communicated this Monday.
However, if only the profits from active operations were taken into account, the result would have risen to 996.5 million dollars (890.2 million euros), which would imply an increase of 42.5% compared to the same period of the previous year.
The total billing of the company rose by 10.5%, to 13.203 billion dollars (11.795 billion euros). Of that figure, Mexico contributed 3.866 billion dollars (3.454 billion euros), 22.4% more, while the United States contributed 3.884 billion dollars (3.470 billion euros), an additional 2%.
In the area of Europe, the Middle East, and Africa, Cemex generated 4.115 billion dollars (3.676 billion euros), and in Central, South America, and the Caribbean reached 935.3 million dollars (835.5 million euros), with advances of 8.6% and 8.3%, respectively. Other concepts totaled 402.6 million dollars (359.7 million euros).
The operating gross result (Ebitda) of the cement company increased by 21.9% in the first nine months of the year, to 2.802 billion dollars (2.503 billion euros).
On the other hand, the multinational bore a set of production, operational, and other expenses amounting to 11.484 billion dollars (10.259 billion euros), 6% more than in the same period of the previous year.
Third quarter results, debt, and forecasts
Between July and September, the attributed profits reached 407.5 million dollars (364 million euros), which represents a rebound of 54.5%. If only the active operations are considered, the quarterly profit was 409.4 million dollars (365.7 million euros), 70.7% more. The quarterly revenues stood at 4.590 billion dollars (4.100 billion euros), 8.1% higher.
At the close of the third quarter, the company had a net debt of 6.075 billion dollars (5.427 billion euros), that is, 714 million dollars (637.8 million euros) less than a year earlier, which corresponds to a decrease of 10.5%.
"With the 'Cutting Edge' project as a basis, we achieved another quarter of solid performance and continue to progress on our strategic priorities," said Cemex's CEO, Jaime Muguiro, referring to the asset divestment program of more than 200 million dollars (178.7 million euros).
"Despite a volatile macroeconomic environment, our teams have remained agile and focused on what we can control, executing our transformation plan and identifying new improvement opportunities," added the executive.
Cemex has reiterated its forecast that annual Ebitda will grow between 16% and 17%, and maintains around 900 million dollars (804 million euros) as the estimated volume of investments in maintenance fixed assets.