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Empresas y finanzas

CEMEX's Second Quarter 2006 EBITDA up 16%; Sales Increase 5%


    CEMEX, S.A.B. de C.V. (NYSE: CX) announced today that
    EBITDA increased 16% in the second quarter of 2006 to US$1.14 billion.
    Consolidated net sales in the second quarter of 2006 grew 5% to US$4.6
    billion.
    CEMEX Consolidated Second-Quarter Financial and Operational
    Highlights

    -- EBITDA (operating income plus depreciation and amortization)
    increased to US$1.14 billion, an increase of 16% over US$989
    million achieved in the second quarter of 2005.

    -- Free cash flow after maintenance capital expenditures was
    US$779 million, an increase of 5% over the second quarter of
    last year.

    -- Increased sales in the majority of CEMEX's markets were the
    result of to higher demand for cement, ready-mix, and
    aggregates. Public infrastructure and housing continue to be
    the main drivers of cement and ready-mix demand in the
    majority of CEMEX's markets.

    -- Operating income for the second quarter increased 15% to
    US$861 million over US$751 million in the comparable period in
    2005.

    -- CEMEX's consolidated cement volume increased 3% to 22.4
    million metric tons, while consolidated ready-mix and
    aggregates volumes fell 6% and 9% respectively.

    Hector Medina, Executive Vice President of Planning and Finance,
    said: "We continue to be encouraged by our post-consolidation
    performance. Our solid performance during the first half of the year
    resulted primarily from the strength of our operations in most of our
    core markets, as well as from the realization of the RMC synergies
    that further enhanced this growth. As we look forward to the second
    half of the year, we remain optimistic about our ability to continue
    to drive solid returns for our shareholders."

    Consolidated Corporate Results

    During the second quarter of 2006, majority net income decreased
    21% to US$579 million. The decrease in majority net income for the
    quarter comes mainly from non-cash intercompany foreign-exchange and
    financial-instrument losses.
    Net debt at the end of the second quarter of 2006 was US$8.1
    billion, representing reductions of US$343 million during the quarter,
    and US$2.3 billion since the end of the first quarter of 2005. The
    net-debt-to-EBITDA ratio decreased to 2.1 times from 2.3 times at the
    end of the first quarter of 2006. Interest coverage reached 7.7 times
    during the quarter, up from 6.5 times a year ago.

    Major Markets Second-Quarter Highlights

    CEMEX's Mexican operations had net sales of $883 million, up 11%
    in the quarter versus the second quarter of 2005, while EBITDA
    increased 6% to US$350 million. Mexican cement and ready-mix volumes
    increased 6% and 20% respectively during the quarter.
    Net sales in the United States decreased 3% to US$1.12 billion in
    the second quarter of 2006. EBITDA grew 23% over the prior year period
    to US$349 million. On a like-to-like basis for ongoing operations,
    cement, ready-mix and aggregates volumes decreased 3%, 16% and 21%,
    respectively during the quarter compared with second quarter 2005. For
    the first six months of the year and on a like-to-like basis, cement
    volumes increased 6%, ready-mix volumes decreased 8%, and aggregates
    volumes decreased 11% versus the first six months of 2005.
    CEMEX's Spanish operations reported net sales of US$476 million in
    the second quarter of 2006, up 10% versus the second quarter of 2005.
    EBITDA increased 26% to US$154 million in the quarter. Domestic cement
    volume increased 6% during the second quarter of 2006 over the same
    period in 2005. Ready-mix volumes, when adjusted for the integration
    of the Readymix Asland assets after the termination of the joint
    venture with Lafarge, increased 6%.
    The Company's operations in the United Kingdom experienced a
    decrease in net sales and EBITDA of 5% to US$478 million, and 29% to
    US$41 million, respectively.

    Rest of Europe

    During the second quarter of 2006, net sales in the other European
    markets were US$953 million, up 8%. EBITDA increased 7% to US$147
    million.

    South/Central America and the Caribbean

    CEMEX's operations in South/Central America and the Caribbean
    reported net sales of US$371 million during the second quarter of
    2006, an increase of 10% over the second quarter of 2005. EBITDA
    increased 19% to US$105 million versus the prior year period.

    Africa and the Middle East

    Second quarter net sales in Africa and the Middle East were US$176
    million, up 23% as compared to the same quarter of 2005. EBITDA
    increased 38% to US$45 million.

    Asia

    CEMEX's Asia-based operations experienced an increase in net sales
    of US$88 million, an increase of 16% over the second quarter of 2005.
    EBITDA increased 64% to US$23 million for the region, over the prior
    year period.

    CEMEX is a growing global building solutions company that provides
    high quality products and reliable service to customers and
    communities in more than 50 countries throughout the world.
    Commemorating its 100th anniversary in 2006, CEMEX has a rich history
    of improving the well-being of those it serves through its efforts to
    pursue innovative industry solutions and efficiency advancements and
    to promote a sustainable future. For more information, visit
    www.cemex.com.