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| Cemex posts 6% increase in second quarter 2007 sales Mexico's Cemex SA, the world's No. 3 cement maker, announced that consolidated net sales increased 6% in the second quarter of 2007 to US$4.9 billion versus US$4.6 billion in the comparable period of 2006. EBITDA decreased 1% in the second quarter of 2007 to US$1.1 billion versus the same period of 2006. In the second quarter of 2007, majority net income increased 6% to US$611 million from US$579 million in the second quarter of 2006. Operating income in the second quarter decreased 6% to US$806 million when compared with the same period of 2006. Consolidated cement volume increased 1%, ready-mix volume decreased 4%, and aggregates volume increased 1%. Net debt at the end of the second quarter was US$4.1 billion, representing reductions of $US1.1 billion during the quarter and US$4.1 billion since the end of the second quarter of 2006. The net-debt-to-EBITDA ratio decreased to 1.0 times from 1.2 times at the end of the first quarter of 2007. Interest coverage reached 8.9 times during the quarter, up from 7.7 times a year ago. write your comments about the article :: © 2007 Construction News :: home page |