Mexican cement maker Cemex's core profits slip on weaker local market

Kylie Madry

Mon, Apr 28, 2025, 3:18 AM 2 min read

By Kylie Madry

MEXICO CITY (Reuters) - Mexican cement shaper Cemex reported an 18% dip successful its halfway net for the archetypal 4th connected Monday, driven mostly by headwinds successful the section market.

Cemex reported net earlier interest, taxes, depreciation and amortization of $601 million, successful enactment with estimates, owed to a weaker peso currency and a dip successful volumes astatine home, it said successful a filing.

The peso caused a $65 cardinal deed to EBITDA, Cemex said, portion volumes dropped successful Mexico owed to a unreserved past twelvemonth to decorativeness authorities infrastructure projects earlier statesmanlike elections.

The steadfast expects its full-year EBITDA to travel successful upward of $3 billion, and held that forecast connected Monday.

The U.S. was Cemex's largest marketplace by income successful the archetypal 4th - followed by Europe, the Middle East and Africa - and past Mexico.

Total income slipped 7% to $3.65 billion, besides successful enactment with the LSEG-compiled estimate, arsenic higher prices failed to afloat offset little volumes.

Cement and ready-mix volumes ticked up slightly, though aggregates came down 4%, Cemex said.

The results travel aft Cemex's long-time CEO Fernando Gonzalez retired astatine the opening of this month, with Cemex USA caput Jaime Muguiro replacing him.

The steadfast has shifted its absorption successful caller years toward the U.S., selling disconnected non-core businesses including successful Guatemala, the Philippines and the Dominican Republic. In February, Bloomberg News reported that Cemex was gauging involvement for a imaginable merchantability of its Colombia unit.

Cemex said connected Monday it was inactive eying small- to mid-size acquisitions successful the United States.

In the quarter, Cemex's nett net astir tripled to $734 million, boosted by the Dominican Republic sale. According to Cemex, $618 cardinal of its nett net successful the 4th came from discontinued operations.

(Reporting by Kylie Madry; Editing by Lincoln Feast)