Cemex Q1 Sales Rise 8% - Quick Facts

(RTTNews) - Mexican building materials company Cemex, S.A.B. de C.V. (CX) said first-quarter consolidated net sales grew 8 percent to $3.6 billion due to higher prices of products in local currency terms in most operations, as well as higher volumes in all regions.

Controlling interest net income was a loss of $293 million, a deterioration over a loss of $281 million in the same period last year.

Operating Earnings Before Interest, Tax, Depreciation and Amortization or EBITDA rose 3 percent to $535 million. During the quarter, higher maintenance and inventory drawdown hurt operating EBITDA.

Adjusting for these effects and for the higher number of business days in operations during the quarter, operating EBITDA, on a like-to-like basis, increased 15 percent.

Fernando González, Executive Vice President of Finance and Administration, said: "We are pleased with the growth in our operating EBITDA during the quarter, on a like-to-like basis, adjusting for the seasonal maintenance and inventory-drawdown effects, which we expect will revert throughout the rest of the year. We also saw positive dynamics in consolidated volumes and prices for our main products.''