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| Cemex's second quarter 2006 EBITDA up 16% Mexican cement giant Cemex, S.A.B. de C.V. announced that EBITDA increased 16% in the second quarter of 2006 to US$1.14 billion. Consolidated net sales in the second quarter of 2006 grew 5% to US$4.6 billion. Free cash flow after maintenance capital expenditures was US$779 million, an increase of 5% over the second quarter of last year. Increased sales in the majority of Cemex's markets were the result of to higher demand for cement, ready-mix, and aggregates. Public infrastructure and housing continue to be the main drivers of cement and ready-mix demand in the majority of Cemex's markets. Operating income for the second quarter increased 15% to US$861 million over US$751 million in the comparable period in 2005. Cemex's consolidated cement volume increased 3% to 22.4 million metric tons, while consolidated ready-mix and aggregates volumes fell 6% and 9% respectively. During the second quarter of 2006, majority net income decreased 21% to US$579 million. The decrease in majority net income for the quarter comes mainly from non-cash intercompany foreign-exchange and financial-instrument losses. write your comments about the article :: © 2006 Construction News :: home page |