Cemex Latam Gains After First Earnings Report: Bogota Mover

Cemex Latam Holdings SA, a cement maker with operations in Central and South America, rose to a record after the company said a measure of profit surged 38 percent in the fourth quarter as revenue climbed 23 percent.

Shares rose 0.9 percent to 13,400 pesos at 10:06 a.m. in Bogota. Earlier they rose 1.7 percent to 13,500 pesos, the highest on an intraday basis since they started trading in November. The shares have climbed more than 9 percent since then.

Earnings before interest, taxes, depreciation and amortization, or Ebitda, from operations rose to $141 million in the last three months of 2012 as net sales increased to $404 million, the Bogota-based company said today in a filing.

“A very positive surprise was their Ebitda margin, helped by good results in Colombia as they kept costs under control,” said Esteban Polidura, a Deutsche Bank AG analyst in Mexico City. “The only thing that could hold back the stock is if it’s seen as too expensive after its gain.”

Net income was $88 million, the company said without giving the amount for a year earlier.

The earnings report was Cemex Latam’s first as a publicly traded company, after its Monterrey, Mexico-based parent Cemex SAB sold shares in Cemex Latam in November.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.