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Cemex Latam Holdings announces 4Q20 EBITDA fall of 1% 12 February 2021
Cemex Latam Holdings SA reported that the company s consolidated net sales and EBITDA in the 4Q20 fell by three and one per cent, respectively, compared to the 4Q19.
Jesús González, CEO of Cemex Latam Holdings, commented: I am proud of how the organisation responded to the challenge of the sudden arrival of COVID-19 in our footprint. We reacted quickly and forcefully to a highly uncertain situation, prioritising the safety of our employees and customers while ensuring business continuity and financial flexibility. In a challenging year , we achieved a margin expansion of 2.1 percentage points, a 45 per cent free cash follow to EBITDA conversation rate and an 11 per cent reduction in net debt.
Mexican cement producer Cemex on Thursday reported net income of $70 million for the fourth quarter, compared with a $238 million loss a year earlier, bolstered by higher sales in the United States and Mexico. Overall, despite the severe economic disruptions worldwide sparked by the pandemic, Cemex reported a 1% year-on-year increase in net sales on a like-to-like basis. 2020 was one of the most challenging years we have faced but it also was a remarkable year that tested the strengths of Cemex, said Chief Executive Officer Fernando Gonzalez. The Monterrey-based company, which operates in more than 50 countries, reported $3.54 billion in net sales, a 9% increase over the same period last year, beating analysts expectations.
Cemex increases its Cemex Latam Holdings stake to 93% Written by Global Cement staff
18 December 2020
Colombia: Mexico-based Cemex has increased its stake in subsidiary Cemex Latam Holdings to 93% from 73%. Citigroup Global Markets acted as advisor and Corredores Davivienda acted as intermediary broker for the offer.
The group said, “Through the offer, Cemex is simplifying and strengthening its overall capital structure by further consolidating its indirect interest in CLH. Last modified on 06 January 2021