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Cemex increases cement sales in Mexico due to elections and remittances

Cemex reported that it increased its sales of cement and other products in Mexico during the three months ended March 31, 2021, at year-on-year rates.

In that period, domestic cement sales volumes from the company‘s operations in Mexico increased 13%, and ready-mix concrete sales volumes decreased 12 percent.

Revenues from Cemex operations in Mexico represented 23% of its total revenues for the three-month period ended March 31, 2021, in dollar terms, before eliminations resulting from consolidation.

Overall, activity continues to be driven by the informal sector with bagged cement rising to double digits.

In turn, the growth of bagged cement is supported by a high level of remittances, home improvements, government social programs and pre-election spending.

Meanwhile, activity in the formal sector continues to show a slight improvement.

Cemex export volumes from Cemex operations in Mexico, which represented 10% of our cement sales volumes in Mexico for the three-month period ended March 31, 2021, decreased 9% during the three-month period. ended on March 31, 2021 compared to the same period in 2020.

Cemex

Of the total cement export volumes from Cemex’s operations in Mexico during the three-month period ended March 31, 2021, 74% was sent to the United States and 26% to its Rest of SCA & C segment.

Regarding the average domestic cement sales price of its operations in Mexico, it increased 5%, in terms of Mexican pesos, for the three-month period ended March 31, 2021 compared to the same period in 2020, and its average ready-mix concrete sales price decreased 1%, in Mexican peso terms, during the same period.

For the three-month period ended March 31, 2021, cement represented 58%, ready-mix concrete 17% and its aggregates, urbanization solutions and other businesses 25% of its revenues in dollar terms from operations in Mexico before of intra-sector eliminations within the segment and before eliminations resulting from consolidation, as applicable.

 

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