ENP Newswire -
Release date- 18072014 -
Operating EBITDA increased by 1% during the quarter to U.S.
CEMEX's consolidated Second-Quarter 2014 Financial and Operational Highlights
The increase in consolidated net sales was due to higher prices of our products in local currency terms in most of our operations, as well as higher volumes in the U.S. and our Mediterranean, South,
Operating earnings before other expenses, net, in the second quarter increased by 1%, to U.S.
Operating EBITDA increased during the quarter by 1% to U.S.
Operating EBITDA margin decreased by 0.5 percentage points on a year-over-year basis reaching 17.7%. On a like-to-like basis and adjusting for business days in our operations, operating EBITDA margin decreased by 0.3 percentage points on a year-over-year basis.
Controlling interest net income was U.S.
Free cash flow after maintenance capital expenditures for the quarter was U.S.
Consolidated Corporate Results
During the second quarter of 2014, controlling interest net income was U.S.
Total debt plus perpetual notes decreased by U.S.
Geographical Markets Second-Quarter 2014 Highlights
Net sales in our operations in
CEMEX's operations in
First-quarter net sales in the Mediterranean region were U.S.
CEMEX's operations in South,
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions.
Many factors could cause the actual results, performance or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy and various other factors.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.
Operating EBITDA is defined as operating income plus depreciation and operating amortization. Free
Net debt is defined as total debt minus the fair value of cross-currency swaps associated with debt minus cash and cash equivalents. The Consolidated Funded Debt to Operating EBITDA ratio is calculated by dividing Consolidated Funded Debt at the end of the quarter by Operating EBITDA for the last twelve months. All of the above items are presented under the guidance of International Financial Reporting Standards as issued by the
Operating EBITDA and Free Cash Flow (as defined above) are presented herein because CEMEX believes that they are widely accepted as financial indicators of CEMEX's ability to internally fund capital expenditures and service or incur debt. Operating EBITDA and Free Cash Flow should not be considered as indicators of CEMEX's financial performance, as alternatives to cash flow, as measures of liquidity or as being comparable to other similarly titled measures of other companies.
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