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| Cemex's Third Quarter 2005 Sales Increase 110% CEMEX, S.A. de C.V. (NYSE: CX) announced today that consolidated net sales in the third quarter of 2005 grew 110% to US$4.3 billion compared to the same quarter of 2004. EBITDA (operating income plus depreciation and amortization) increased to US$1 billion, up 54% over the third quarter of 2004. Majority net income for the third quarter of 2005 rose 87%, to US$675 million from US$361 million in third quarter of 2004, and has increased 99% during the first nine months of 2005, reaching US$1, 855 million. Net debt at the end of the third quarter 2005 was US$8.9 billion, a reduction of US$724 million during the quarter. The net-debt-to-EBITDA ratio improved to 2.6 from 2.9 at the end of second quarter 2005. Interest coverage remained unchanged from second quarter 2005 at 6.5, decreasing from 6.7 one year prior. During the quarter, free cash flow of US$679 million plus US$91.5 million in proceeds from the additional assets contributed to the joint venture with Ready Mix USA were primarily used to reduce net debt by US$687 million (when expressed in US dollars, net debt was further reduced by US$37 million due mainly to the depreciation of the euro, British pound and yen versus the US dollar during the quarter), and for investments in connection with the post merger integration of RMC. write your comments about the article :: © 2005 Construction News :: home page |