Mexican Cemex suffers a quarterly loss of 99 million dlr

MEXICO CITY, Feb 13 (Reuters) – Mexican cement maker Cemex, one of the world’s biggest, reported a net loss in its fourth-quarter results on Monday, despite higher prices in all its markets, which boosted total income.

Cemex, with operations in the Americas, Europe, Africa, Asia and the Middle East, lost $99 million against a profit of $195 million in the same quarter of 2021.

The company said the quarterly loss reflected a non-cash charge for impairment of goodwill and fixed assets during the period.

Net sales at the cement company, based in the northern industrial city of Monterrey, rose 8% year-on-year to $3.869 million, although in comparable terms they were up 12%, with a price increase of between 17% and 20% in cement, concrete and aggregates.

Its cash flow from operations (EBITDA) fell 2% to $630 million, although on a like-for-like basis it was down 1%.

Going forward, the company expects to see a single-digit increase in EBITDA this year, while capital expenditure would be around $1.25 billion, according to a presentation that accompanied its quarterly results.

(Report by Kylie Madry and Noé Torres)