Cemex announced that, on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by 2% during the fourth quarter of 2015 to $3.4 billion.
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Consolidated net sales increased 5% for the full year 2015 to $14.1 billion versus the comparable periods in 2014.
Operating EBITDA on a like-to-like basis increased by 7% during the fourth quarter to $663 million, and increased 9% for the full year to $2.6 billion versus the comparable periods of 2014.
Cemex’s Consolidated Fourth-Quarter and Full-Year 2015 Financial and Operational Highlights
The increase in consolidated net sales, on a like-to-like basis, was due to higher prices of our products, in local currency terms, in most of our operations, as well as higher volumes in the U.S., and our Mediterranean and Asia regions.
On a like-to-like basis, operating earnings before other expenses, net, in the fourth quarter increased by 11% to $410 million and in the full year increased by 17% to $1.7 billion versus the comparable periods in 2014.
Controlling interest net income improved to $144 million during the fourth quarter of 2015 from a loss of $178 million in the same period last year. Also, controlling interest net income improved during the full year to $75 million from a loss of $507 million in 2014.
Operating EBITDA on a like-to-like basis increased by 7% and 9% during the quarter and the full year, respectively, to $663 million and$2.6 billion versus the comparable periods of 2014.
Operating EBITDA margin during the quarter grew by 0.9 percentage points on a year-over-year basis reaching 19.4%. For the full year operating EBITDA margin increased to 18.7%, up 1.1 percentage points from 2014.
Free cash flow after maintenance capital expenditures for the quarter increased by 35% to $566 million, compared to the same quarter of 2014.
For the full year 2015, free cashh flow after maintenance capital expenditures reached$881 million, an increase of 121% versus previous year. ■