CEMEX, S.A.B. de C.V. announced strong results in the second quarter of 2021 with EBITDA growing in all regions. Consolidated net sales increased 25%, to $3.9 billion, while Operating EBITDA improved 39%, to $818 million.
In the United States, net sales reached $1.1 billion, an increase of 13%. “Our operations in the United States continued to enjoy strong demand in the second quarter with most of our markets sold out,” the company stated. “Despite adverse weather conditions in Texas, cement volumes grew 8%, ready-mix 14% and aggregates 4%. Activity continued to be driven by solid residential activity. On a sequential basis, cement prices increased 3%, while ready-mix and aggregates grew by 2% and 1%, respectively.”
- Net sales in Mexico increased 43%, to $935 million.
- In its Europe, Middle East, Africa and Asia region, net sales rose by 21%, reaching $1.3 billion.
- South, Central America and the Caribbean region had net sales of $418 million, an increase of 50%.
“We are quite pleased to report another strong consecutive performance. During the quarter, we accomplished some important milestones in our growth story. Quarterly highlights include the achievement of our long-time leverage goal, a 39% increase in quarterly EBITDA, and our announcement of industry leading Climate Action targets” said Fernando A. González, CEO of CEMEX. “Our growth in the quarter, which exceeded pre-pandemic levels, gives us confidence that this performance is sustainable in the second half of the year. We are optimistic and we will take advantage of this favorable backdrop to focus on our bolt-on investment strategy, further deleveraging and investing to reach our new Climate Action targets.”