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| Cemex reports 4Q and FY 2008 results Cemex, the world's number-three cement maker, announced that consolidated net sales decreased 23% in the fourth quarter of 2008 to US$4.5 billion and remained flat for the full year at US$21.7 billion versus the comparable periods in 2007. EBITDA fell 27% in the fourth quarter of 2008 to US$808 million and decreased 5% for the full year to US$4.3 billion. In the fourth quarter of 2008, majority net income was a loss of US$707 million. For the full-year 2008, majority net income decreased 92% to US$203 million. The loss in majority net income for the quarter is due primarily to lower operating income, the loss on financial instruments, and an impairment expense, all partially mitigated by the recognition of a deferred tax benefit. write your comments about the article :: © 2009 Construction News :: home page |