Cemex operations in the U.S. reported net sales of $1 billion in the first quarter, an increase of 5 percent from the same period in 2020.
Operating EBITDA (earnings before interest, tax, depreciation and amortization) grew 21 percent to $196 million versus the same quarter of 2020, Cemex adds.
Companywide, Cemex’s EBITDA grew on a year-over-year basis in all of its global regions. Consolidated net sales increased 9 percent on a year-over-year basis to $3.4 billion in the first quarter. Operating EBITDA improved 28 percent in the first quarter to $684 million, while EBITDA margin increased to 20.1 percent – 2.8 percentage points higher year over year.
Cemex attributes its EBITDA performance in the first quarter to significant momentum in cement volumes, higher prices and operational leverage in the business.
“We are quite pleased with our first-quarter results where we achieved some important milestones and advanced significantly against our Operation Resilience goals, despite persistent challenges from COVID in many markets” says Fernando González, CEO of Cemex. “First-quarter performance convinces me that we should be entering a period of sustainable growth for our major markets, and we will likely reach two of our Operation Resilience goals well in advance of the 2023 timetable: achieving an investment grade capital structure and a higher than 20 percent consolidated EBITDA margin.”
