cemex sab-cpo (CXMSF) Key Developments
CEMEX, S.A.B. de C.V. Announces USD 300 Million Investment in the Philippines
May 14 15
CEMEX, S.A.B. de C.V. announced that it is undertaking a new USD 300 million investment in the Philippines. The new investment will include the construction of a new 1.5-million-ton, integrated cement-production line at the company’s Solid Plant in Luzon. This will double the capacity of the Solid plant and will represent a 25% increase in the company’s cement capacity in the Philippines.
CEMEX, S.A.B. de C.V. Reports Consolidated Earnings Results for the First Quarter Ended March 2015; Provides Capital Expenditure Guidance for the Year 2015
Apr 23 15
CEMEX, S.A.B. de C.V. reported consolidated earnings results for the first quarter ended March 2015. For the quarter, the company reported consolidated net sales reached USD 3.4 billion during the first quarter of 2015, an increase of 7% on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2014. Operating EBITDA increased by 6% during the quarter to USD 569 million versus the same period in 2014. On a like-to-like basis, operating EBITDA increased by 14% in the same period. Operating EBITDA margin grew by 1.8 percentage points on a year-over-year basis reaching 16.7%. Reporting a narrower controlling interest net loss of USD 149 million during the first quarter of 2015 from a loss of USD 293 million in the same period last year. Free cash flow after maintenance capital expenditures for the quarter was negative USD 281 million, compared with negative USD 454 million in the same quarter of 2014. Operating earnings were USD 336,643,000 compared to USD 229,845,000 a year ago. Loss before income tax was USD 30,861,000 compared to USD 167,881,000 a year ago. Loss per share was UAD 0.11 compared to USD 0.23 per share a year ago. Total debt excluding perpetual notes as of March 31, 2015 was USD 16,250 million. Free cash flow after maintenance CapEx was less negative by USD 173 million.
For the year 2015, total capital expenditures expected to be about USD 800 million, USD 500 million in maintenance capex and USD 300 million in strategic capex. The increase in strategic CapEx guidance reflects the ongoing expansion projects announced last year.
CEMEX, S.A.B. de C.V. Presents at Barclays America Select Franchise Conference 2015, May-19-2015 03:40 PM
Apr 11 15
CEMEX, S.A.B. de C.V. Presents at Barclays America Select Franchise Conference 2015, May-19-2015 03:40 PM. Venue: Langham Hotel, London, United Kingdom. Speakers: Maher Al-Haffar, Executive Vice President of Investor Relations, Corporate Communications and Public Affairs.
CEMEX, S.A.B. de C.V. Announces Management Appointments
Mar 27 15
CEMEX, S.A.B. de C.V. announced that its ordinary shareholders meeting held on March 26, 2015 approved the election of members of the Board of Directors, as well as members of the Audit and Corporate Practices and Finance Committees. The meeting appointed Rogelio Zambrano Lozano as Non-Independent Director, Fernando Ngel Gonz Lez Olivieri as Non-Independent Director, Ian Christian Armstrong Zambrano as Non-Independent Director, Jos Manuel Rinc N Gallardo Purn as Independent Director and David Mart Nez Guzmn as Independent Director. Rogelio Zambrano Lozano was elected President and Secretary of the Board of Directors of CEMEX, the latter not being a Director. The meeting also appointed Jos Manuel Rinc N Gallardo Purn as President of Audit Committee and Francisco Javier Fern Ndez Carbajal as Member of Audit Committee. The meeting also appointed Dionisio Garza Medina as President of Corporate Practices and Finance Committee Armando Garza Sada as Member of Corporate Practices and Finance Committee. The Corporate Practices and Finance Committee will take over the Finance Committee's responsibilities with respect to mergers, acquisitions, review of market information and financial plans, including financing and related transactions. Ramiro Gerardo Villarreal Morales will act as Secretary of each of the Audit and Corporate Practices and Finance committees without forming part of the aforementioned committees.
Cemex Seeking To Sell Assets Worth 100 Million
Mar 26 15
CEMEX, S.A.B. de C.V. (NYSE:CX) said it had so far earmarked around $100 million worth of assets of the roughly $1 billion to $1.5 billion it is looking to divest. Chief Executive Fernando Gonzalez told journalists the company had identified around $100 million of assets to sell under a divestment plan announced in February. Gonzalez also said that the company would have more clarity on the asset sales in the second quarter.