During 2Q17, Cemex Latam’s consolidated domestic gray cement, ready-mix, and aggregates volumes were negatively affected by fewer working days and adverse weather conditions, and decreased by 3%, 13% and 9%, compared to those 2Q16, respectively. During the quarter, consolidated daily cement dispatches grew by 1.5%, on a year-over-year basis, and increased in all operations, with the exception of Colombia and Nicaragua.
Jaime Muguiro, CEO of CLH, said, “Despite the increase in our daily cement dispatches in most of our operations, and in spite of having achieved a new historic cement volume record in our Rest of CLH region, our results were negatively affected by the intense competitive environment in Colombia, fewer working days as a consequence of the Easter holidays, and adverse weather conditions.”
He continued: “Despite a 39% decline in our quarterly EBITDA, mostly explained by lower volumes and prices in Colombia, our Free Cash Flow after total capital expenditures increased by 12%. I am optimistic that in spite of the headwinds we are facing in Colombia as a result of the very challenging competitive dynamics, during 2017 we will be able to continue delivering a strong Free Cash Flow as a consequence of the important reduction in our Strategic Capex and our disciplined working capital management.”
