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| Cemex reports 3Q 2009 results Mexican cement maker Cemex announced that consolidated net sales in the three months that ended on September 30, 2009, decreased to US$4.2 billion versus US$5.8 billion in the comparable period in 2008, representing a decrease of 27%, or a decrease of 19% when adjusting for the exclusion of its Venezuelan operations, the sale of the assets in the Canary Islands, and currency fluctuations. On a sequential basis, consolidated net sales for the third quarter of 2009 increased close to 1% compared with the second quarter of 2009. EBITDA decreased 38% in the third quarter of 2009 to US$806 million from US$1.3 billion in the same period of 2008, or 30% when adjusting for the exclusion of above mentioned assets and currency fluctuations. EBITDA, on a sequential basis, declined 1% in the third quarter of 2009 compared to the second quarter of 2009. Majority net income was a gain of US$121 million in the third quarter of 2009 versus a gain of US$200 million in the third quarter of 2008 due to lower operating income. Net debt at the end of the third quarter was US$17.1 billion, representing a decrease of US$1.2 billion during the quarter. write your comments about the article :: © 2009 Construction News :: home page |