December 02, 2008

Cemex Q1 sales increase by 26% YoY

Mexico's CEMEX the world's third largest cement maker announced that consolidated net sales increased by 26% YoY in the Q1 of 2008 to USD 5.4 billion as comparable period in 2007. EBITDA grew by 10% YoY in the Q1 of 2008 to USD 951 million versus the same period of 2007.

CEMEX's Consolidated First Quarter Financial and Operational Highlights:
1. The integration of Rinker and better supply demand dynamics in most of our markets contributed to higher sales.
2. Free cash flow after maintenance capital expenditures for the quarter was USD 487 million, up 78% YoY from USD 274 million in the same quarter of 2007.

Mr Hector Medina executive vice president of planning and finance, of CEMEX said that "The strength of our business model allowed CEMEX to complement organic growth with contributions from acquisitions. The diversity of our asset portfolio and the greater synergies identified in the Rinker integration helped CEMEX to overcome a challenging environment. Even in the face of the correction in residential spending experienced in the United States, we continue to reduce debt and improve efficiency. We have a solid financial foundation and remain focused on creating value for our shareholders."