The improved global market conditions have helped Cemex SAB de CV (ADR)(NYSE:CX) to report excellent results for the quarter ended March 31, 2015. As per the reports, the major highlight for of this announcement was a reasonable increment in the sales as well as operating EBITDA.
Financial Results For The Previous Quarter:
The net sales of the company touched an eye-popping figure of US$3.4 billion in the previous quarter. It was 7% more than the sales figures reported during the same period in the previous year on a like to like basis. As per the reports, this figure has been reported after taking into consideration the currency fluctuations and ongoing operations. The primary reason for increment in the sales activities on a like to like basis was nothing but the increased prices of the products. The prices of its products surged in the local market as well as in U.S., Mexico, and the Asian region.
Operating earnings of the company increased by 33% on a like to like basis and touched a magical figure of $335 million.
When it comes to EBITDA, Cemex SAB managed to report US$569 million operating EBITDA, which was 6% higher than the one reported by it in 2014. On like to like basis, this growth was 14% during the same period. Due to the excellent performance in 2014-15 FY, the operating EBITDA margin of the company increased by 1.8% and touched 16.7% level.
When it comes to controlling an interest net loss, it posted a figure of $149 million during 1Q2015, which was well below the net loss figure of $293 million during the same period in 2014. Even though it managed to sell its products across the globe, but still company’s free cash flow couldn’t enter in the positive streamline. Its free cash flow after adjusting maintenance capital expenditure was negative US$281 million in 1Q2015 versus negative US$454 during 1Q2014.