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| Cemex reports 4th-qtr net sales increased 30% Cemex, the Mexican cement giant, announced that consolidated net sales increased 30% in the fourth quarter of 2007 to US$5.8 billion and 19% for the full year reaching US$21.7 billion versus the comparable periods in 2006. EBITDA grew 18% in the fourth quarter of 2007 to US$1.1 billion and 11% for the full year, reaching US$4.6 billion. In the fourth quarter of 2007, majority net income increased 43% to US$538 million from US$377 million in the fourth quarter of 2006. For the full-year 2007, majority net income increased 1% to US$2.4 billion. The increase in majority net income for the quarter is due primarily to the Rinker acquisition. Net debt at the end of the fourth quarter was US$18.9 billion, representing a reduction of US$252 million during the quarter. The net-debt-to-EBITDA ratio remained at 3.6 times for the fourth quarter 2007. Interest coverage reached 5.7 times during the quarter, down from 8.4 times a year ago. write your comments about the article :: © 2008 Construction News :: home page |