Cemex, S.A.B. de C.V. announced recently that consolidated net sales reached $3.2 billion during the first quarter of 2016, an increase of 3 per cent on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2015. Operating EBITDA increased 12 per cent on a like-to-like basis during the quarter to $583 million versus the same period in 2015. Fernando A Gonzalez, Cemex CEO said, ?We continue to see favourable results from the implementation of our value-before-volume strategy, with increases in sequential pricing in our three core products. Higher consolidated prices led to a like-to-like increase in net sales of 3 per cent. Prices increased more than our costs and we had a favourable operating leverage in many of our markets leading to a 12 per cent increase in EBITDA on a like-to-like basis, as well as an EBITDA margin expansion of 1.2 percentage points.?
During the first quarter of 2016, controlling interest net income was $35 million, an improvement over a loss of $149 million in the same period last year.