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Cemex posts US$581mn loss as sales begin to pick up (Mexico)
2011-02-04
Mexican cement producer Cemex (NYSE: CX) posted a loss of US$581mn for 4Q10, compared with earnings of US$265mn in 4Q09.

 

Net sales inched up 1% year-over-year to US$3.5bn as a boost in Mexican operations and other markets offset lower sales from the US and Europe, with infrastructure and residential sectors leading demand, the firm said in its quarterly results report.

 

The company's total debt shrank by US$374mn in the quarter, while Ebitda grew 2% to US$482mn.

 

For full-year 2010, Cemex net sales dropped 3% to US$14.1bn, while Ebitda decreased 13% to US$2.3bn.


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