CEMEX reports net income down to USD121m for Q3 but sales stabilise

Wed. October 28, 2009; Posted: 07:06 AM

Oct 28, 2009 (M2 EQUITYBITES via COMTEX) -- CX | Quote | Chart | News | PowerRating -- Mexican building materials company CEMEX S.A.B. de C.V. (NYSE:CX) on Tuesday reported net income of USD121m in the third quarter of 2009, compared to USD200m in the same quarter last year.

CEMEX's consolidated net sales in the three months ended 30 September 2009 totalled USD4.2bn, down 27% from USD5.8bn in the corresponding period last year.

The drop in sales was primarily attributable to lower volumes, CEMEX said, mainly from its US and Spanish operations, as well as the exclusion of its Venezuelan operations and the sale of the Canary Islands assets.

On a sequential basis, compared with the second quarter of 2009, sales increased by approximately 1%.

EBITDA in the third quarter of 2009 decreased 38% to USD806m from USD1.3bn in the same period of 2008. EBITDA declined by 1% compared with the second quarter of 2009.

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For full details on Cemex S A B De Cv (CX) click here. Cemex S A B De Cv (CX) has Short Term PowerRatings of 5. Details on Cemex S A B De Cv (CX) Short Term PowerRatings is available at This Link.

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