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| Cemex expects drop in 4Q revenues Mexican cement maker Cemex announced that it expects EBITDA for the quarter ending December 31, 2008 to be close to US$800 million, a like-to-like decrease of 14% versus the same period last year. On a reported basis, the decrease is expected to be about 27%, as it includes 10 percentage points due to foreign-exchange conversion effects and 3 percentage points due to sale of assets and the nationalization of our assets in Venezuela. Operating income on a reported basis is expected to be about US$410 million, 30% lower than the same period a year ago. Cemex expects sales for the fourth quarter to be about US$4.45 billion, a decline on a like-to-like basis of 10% versus the comparable period last year. On a reported basis the decline is expected to be 23% lower as it includes 10 percentage points due to foreign-exchange conversion effects and 3 percentage points due to the change in asset base as described above. write your comments about the article :: © 2008 Construction News :: home page |