RNS No 4226a
CEMEX S.A. DE C.V.
20th April 1998
PART 2
CEMEX, S.A. DE C.V. AND SUBSIDIARIES
Consolidated Figures
(Convenience translation in thousands of dollars) (*)
January March % Quarters %
FINANCIAL INDICATORS 1998 1997 Var. I 1998 I 1997 Var.
Operating Margin 27.1% 23.0% 27.1% 23.0%
Operating Cash Flow Margin 35.1% 32.1% 35.1% 32.1%
Interest Coverage (Op. Cash
Flow / Int. Exp.) (1) 2.62 1.73 2.84 2.02
Interest + Cash Tax
Coverage (1) 2.41 1.65 2.46 1.93
Net Debt/Operating Cash
Flow (1) 3.55 4.55
Debt/Total Capitalization
(Covenant) 49.4% 51.9%
Return on Equity (1)(3) 15.9% 10.4%
Return on Operating Assets
(1)(4) 14.6% 12.7%
Cash Flow per Share (2) 0.29 0.20 41% 0.29 0.20 41%
Cash Earnings per Share (2) 0.19 0.11 76% 0.19 0.11 76%
Earnings per Share (2) 0.15 0.14 10% 0.15 0.14 10%
January - March % Quarters %
VOLUMES Volume in thousands 1998 1997 Var. I 1998 I 1997 Var.
CONSOLIDATED
Total Cement (Met. Tons) 9,328.0 8,271.6 13% 9,328.0 8,271.6 13%
Total Ready-mix (m3) 3,329.9 2,582.5 30% 3,329.9 2,562.5 30%
January - March Quarters Quarters
VOLUMES Variation in volume 1998 - 1997 I 1998 - I 1997 I 1998 - IV 1997
MEXICO 8% 8% (7%)
Domestic (Met. Tons. Gray
Cement) 20% 20% (2%)
Exports (Met. Tons) (41%) (41%) (37%)
Ready-mix (m3) 45% 45% (4%)
USA
Domestic (Met. Tons) 13% 13% (6%)
Ready-mix (m3) 14% 14% (5%)
Aggregates (Met. Tons) 7% 7% (3%)
SPAIN 19% 19% 2%
Domestic (Met. Tons) 29% 29% 5%
Exports (Met. Tons) (9%) (9%) 2%
Ready-mix (m3) 21% 21% 9%
VENEZUELA 13% 13% 0%
Domestic (Met. Tons) 37% 37% 8%
Exports (Met. Tons) (7%) (7%) (8%)
Ready-mix (m3) 58% 58% 0%
COLOMBIA
Domestic (Met. Tons) N/A N/A (11%)
Ready-mix (m3) N/A N/A (10%)
CARIBBEAN /CENTRAL AMERICA
Domestic (Met. Tons) 3% 3% (4%)
Ready-mix 27% 27% 5%
* Results for 1998 can be converted to dollars by dividing by the March 1998
exchange rate of 8.55. Results for 1997 can be converted to dollars by
dividing by the weighted average inflation factor of 10.96% (1.1096) and then
dividing by the March 1997 exchange rate of 7.92.
(1) Trailing twelve months.
(2) Considering 1,217,638 thousand average shares for I 1998, 1,245,677 thousand
average shares for I 1997), 1,217,638 thousand average shares for 1998
accumulated and 1,245,677 thousand average shares for 1997 accumulated
(3) (Cash earnings - Cash taxes - Other non-operating cash expenses) / Average
consolidated shareholders equity
(4) Operating cash flow / (Average consolidated shareholders equity + Average
net debt)
CEMEX, S.A. DE C.V. AND SUBSIDIARIES
Consolidated Figures
Financial and Operating Indicators
(Thousands of Pesos in Real Terms as of Mar. 1998) (*)
January March % Quarters %
FINANCIAL INDICATORS 1998 1997 Var. I 1998 I 1997 Var.
Operating Margin 27.1% 23.0% 27.1% 23.0%
Operating Cash Flow Margin 35.1% 32.1% 35.1% 32.1%
Operating Coverage (Op.
Cash Flow/Int. Exp.) (1) 2.62 1.73 2.84 2.02
Interest + Cash Tax
Coverage (1) 2.41 1.65 2.46 1.93
Net Debt/Operating Cash
Flow (1) 3.55 4.55
Debt/Total Capitalization
(Covenant) 49.4% 51.9%
Return on Equity (1)(3) 15.9% 10.4%
Return on Operating Assets
(1)(4) 14.6% 12.7%
Cash Flow per Share (2) 2.45 1.79 37% 2.45 1.79 37%
Cash Earnings per Share (2) 1.65 0.96 71% 1.65 0.96 71%
Earnings per Share (2) 1.28 1.19 7% 1.28 1.19 7%
January - March % Quarters %
VOLUMES Volume in thousands 1998 1997 Var. I 1998 I 1997 Var.
CONSOLIDATED
Total Cement (Met. Tons) 9,328.0 8,271.6 13% 9,328.0 8,271.6 13%
Total Ready-mix (m3) 3,329.9 2,562.5 30% 3,329.9 2,562.5 30%
January - March Quarters Quarters
VOLUMES Variation in volume 1998 - 1997 I 1998 - I 1997 I 1998 - IV 1997
MEXICO 8% 8% (7%)
Domestic (Met. Tons. Gray
Cement) 20% 20% (2%)
Exports (Met. Tons) (41%) (41%) (37%)
Ready-mix (m3) 45% 45% (4%)
USA
Domestic (Met. Tons) 13% 13% (6%)
Ready-mix (m3) 14% 14% (5%)
Aggregates (Met. Tons) 7% 7% (3%)
SPAIN 19% 19% 2%
Domestic (met. Tons) 29% 29% 5%
Exports (Met. Tons) 9% 9% 2%
Ready-mix (m3) 21% 21% 9%
VENEZUELA 13% 13% 0%
Domestic (Met. Tons) 37% 37% 8%
Exports (Met. Tons) (7%) (7%) (8%)
Ready-mix (m3) 58% 58% 0%
COLOMBIA
Domestic (Met. Tons) N/A N/A (11%)
Ready-mix (m3) N/A N/A (10%)
CARIBBEAN /CENTRAL AMERICA
Domestic (Met. Tons) 3% 3% (4%)
Ready-mix 27% 27% 5%
(*) Results for 1998 can be converted to dollars by dividing by the March 1998
exchange rate of 8.55. Results for 1997 can be converted to dollars by
dividing by the weighted average inflation factor of 10.96% (1.1096) and
then dividing by the March 1997 exchange rate of 7.92.
(1) Trailing twelve months.
(2) Considering 1,217,638 thousand average shares for I 1998, 1,245,677 thousand
average shares for I 1997), 1,217,638 thousand average shares for 1998
accumulated and 1,245,677 thousand average shares for 1997 accumulated
(3) (Cash earning - Cash taxes - Other non-operating cash expenses) / Average
consolidated shareholders equity
(4) Operating cash flow / (Average consolidated shareholders equity + Average
net debt)
CEMEX, S.A. DE C.V. AND SUBSIDIARIES
Consolidated Figures
(Convenience translation in thousands of dollars) (*)
January - March % Quarters %
INCOME STATEMENT 1998 1997 Var. I 1998 I 1997 Var.
Net Sales 992,884 789,011 26% 992,884 789,011 26%
Cost of Sales (575,571) (486,173) 18% (575,571) (486,173) 18%
Gross Profit 417,313 302,838 38% 417,313 302,838 38%
Selling, General
and Administrative
Expenses (148,269) (121,586) 22% (148,269) (121,586) 22%
Operating Income 269,044 181,252 48% 269,044 181,252 48%
Financial Expenses (122,943) (125,614) (2%) (122,943) (125,614) (2%)
Financial Income 8,451 8,396 1% 8,451 8,396 1%
Exchange Gain
(Loss), Net (59,577) (2,750) N/A (59,577) (2,750) N/A
Monetary Position
Gain (Loss) 165,022 179,274 (8%) 165,022 179,274 (8%)
Total Comprehensive
Financing (Cost)
Income (9,048) 59,306 (115%) (9,048) 59,306 (115%)
Gain or (Loss) on
Marketable
Securities (5,792) 8,669 (167%) (5,792) 8,669 (167%)
Other Expenses, Net (24,266) (35,483) (32%) (24,266) (35,463) (32%)
Other Income
(Expenses) (30,058) (26,794) 12% (30,058) (26,794) (12%)
Net Income Before
Income Taxes 229,938 213,764 8% 229,938 213,764 8%
Income Tax (14,527) (19,280) (25%) (14,527) (19,280) (25%)
Employees'
Statutory Profit
Sharing (4,547) (2,211) 106% (4,547) (2,211) 106%
Total Income Tax
& Profit Sharing (19,074) (21,491) (11%) (19,074) (21,491) (11%)
Net Income Before
Participation of
Uncons. Subs. and
Ext. Items 210,864 192,274 10% 210,864 192,274 10%
Participation of
Unconsolidated
Subsidiaries 396 4,064 (90%) 396 4,064 (90%)
Consolidated Net
Income 211,260 196,337 8% 211,260 196,337 8%
Net Income
Attributable to
Min. Intest 29,644 26,975 10% 29,644 26,975 10%
Net income after
minority intest 181,616 169,362 7% 181,616 169,362 7%
Operating Cash Flow
(Operating Income
+ Depreciation
+ Leases + Cost
Restatements) 349,065 253,510 38% 349,065 253,510 38%
January - March %
BALANCE SHEET 1998 1997 Var.
Total Assets 10,188,794 9,997,459 2%
Cash and
Temporary
Investments 422,421 330,905 28%
Trade Accounts
Receivables 491,710 440,087 12%
Other Receivables 158,214 185,621 (15%)
Inventories 464,794 442,093 5%
Other Current
Assets 52,782 57,207 (8%)
Current Assets 1,589,921 1,455,912 9%
Fixed Assets 5,914,602 5,933,670 (0%)
Other Assets 2,684,272 2,607,876 3%
Total
Liabilities 5,494,866 5,523,212 (1%)
Current
Liabilities 1,176,777 1,228,985 (4%)
Long-Term
Liabilities 4,157,189 4,155,004 0%
Other
Liabilities 160,900 139,223 16%
Consolidated
Stockholders'
Equity 4,693,928 4,476,307 5%
Stockholders'
Equity
Attributable to
Minority
Interest 1,151,588 1,082,021 6%
Stockholders'
Equity
Attributable to
Majority
Interest 3,542,360 3,394,286 4%
CEMEX, S.A. DE C.V. AND SUBSIDIARIES
Consolidated Figures)
(Thousands of Pesos in Real Terms as of Mar. 1998)
January - March % Quarters %
INCOME STATEMENT 1998 1997 Var. 1998 1997 Var.
Net Sales 8,489,159 6,933,956 22% 8,489,159 6,933,856 22%
Cost of Sales (4,921,132) (4,272,502) 15% (4,921,132)(4,272,502)15%
Gross Profit 3,568,027 2,661,354 34% 3,568,027 2,661,354 34%
Selling, General and
Administrative
Expenses (1,267,702) (1,068,504) 19% (1,267,702)(1,068,504)19%
Operating Income 2,300,324 1,592,850 44% 2,300,324 1,592,850 44%
Financial Expenses (1,051,164) (1,103,896) (5%)(1,051,164)(1,103,896)(5%)
Financial Income 72,252 73,782 (2%) 72,252 73,782 (2%)
Exchange Gain (Loss)
Net (509,382) (24,170) N/A (509,382) (24,170) N/A
Monetary Position
Gain (Loss) 1,410,936 1,575,468 (10%) 1,410,936 1,575,488 (10%)
Total Comprehensive
Financing (Cost)
Income (77,357) 521,183 (115%) (77,357) 521,183(115%)
Gain or (Loss) on
Marketable Securities (49,520) 76,180 (165%) (49,520) 76,180(165%)
Other Expenses, Net (207,478) (311,647) (33%) (207,478) (311,647)(33%)
Other Income (Expense) (256,998) (235,467) (9%) (256,998) (235,467) (9%)
Net Income Before
Income Taxes 1,965,969 1,878,567 5% 1,965,969 1,878,567 5%
Income Tax (124,209) (169,434) (27%) (124,209) (169,434)(27%)
Employees' Statutory
Profit Sharing (38,873) (19,427) 100% (38,873) (19,427)100%
Total Income Tax &
Profit Sharing (163,082) (188,860) (14%) (163,082) (188,860) (14%)
Net Income Before
Participation of
Uncons.Subs. and
Ext.Items 1,802,887 1,689,706 7% 1,802,887 1,689,706 7%
Participation in
Unconsoldiated
Subsidiaries 3,385 35,713 (91%) 3,385 35,713 (91%)
Consolidated Net
Income 1,806,272 1,725,418 5% 1,806,272 1,725,419 5%
Net Income Attributable
to Min. Interest 253,453 237,059 7% 253,453 237,059 7%
NET INCOME AFTER
MINORITY INTEREST 1,552,819 1,488,360 4% 1,552,819 1,488,360 4%
Operating Cash Flow
(Operating Income +
Depreciation + Leases
+ Cost Restatements) 2,984,506 2,227,853 34% 2,984,506 2,227,853 34%
January-March %
BALANCE SHEET 1998 1997 Var
Total Assets 87,114,191 87,857,990 (1%)
Cash and Temporary
Investments 3,611,702 2,908,003 24%
Trade Accounts
Receivables 4,204,120 3,867,497 9%
Other Receivables 1,352,728 1,631,240 (17%)
Inventories 3,973,991 3,885,124 2%
Other Current Assets 451,282 502,739 (10%)
Current Assets 13,593,821 12,794,603 6%
Fixed Assets 50,569,845 52,145,285 (3%)
Other Assets 22,950,525 22,918,102 0%
Total Liabilities 46,981,105 48,538,160 (3%)
Current Liabilities 10,061,446 10,800,358 (7%)
Long-Term
Liabilities 35,543,965 36,514,306 (3%)
Other Liabilities 1,375,694 1,223,495 12%
Consolidated Stock-
holders' Equity 40,133,085 39,337,928 2%
Stockholders' Equity
Attributable to
Minority Interest 9,845,905 9,508,834 4%
Stockholders' Equity
Attributable to
Majority Interest 30,287,181 29,829,094 2%
Mexico
(Thousands of Constant Pesos as of Mar. 1998)(1)
January - March % %
INCOME STATEMENT 1998 1997 VAR. I 1998 I 1997 VAR.
Net Sales 3,937,279 3,092,649 27% 3,937,279 3,092,649 27%
Cost of Sales (1,981,321) (1,953,702) 1% (1,981,321) (1,953,702) 1%
Gross Profit 1,955,958 1,138,947 72% 1,955,958 1,138,947 72%
Selling, General
and Administrative
Expenses (457,019) (403,444) 13% (457,019) (403,444) 13%
Operating Income 1,498,938 735,503 104% 1,498,938 735,503 104%
Operating Cash Flow
(Operating Income +
Depreciation +
Leases + Cost
Actualization) 1,749,123 1,048,922 67% 1,749,123 1,048,922 67%
Operating Margin 38.0% 23.8% 38.0% 23.8%
Operating Cash Flow
Margin 44.4% 33.9% 44.4% 33.9%
Spain
(Thousands of Pesetas) (2)
January - March % %
INCOME STATEMENT 1998 1997 VAR. I 1998 I 1997 Var.
Net Sales 29,502,209 24,104,974 22% 29,502,209 24,104,974 22%
Cost of Sales (19,044,435) (16,409,371) 16% (19,044,435) (16,409,371) 16%
Gross Profit 10,457,774 7,695,603 36% 10,457,774 7,695,603 36%
Selling, General
and Administrative
Expenses (3,244,721) (3,149,630) 3% (3,244,721) (3,149,630) 3%
Operating income 7,213,053 4,545,973 59% 7,213,053 4,545,973 59%
Operating Cash Flow
(Operating Income
+ Depreciation) 10,057,448 7,507,783 34% 10,057,448 7,507,783 34%
Operating Margin 24.4% 18.9% 24.4% 18.9%
Operating Cash Flow
Margin 34.1% 31.1% 34.1% 31.1%
Venezuela
(Thousands of Constant Bolivares as of Mar. 1998)(3)
January - March % %
INCOME STATEMENT 1998 1997 VAR. I 1998 I 1997 VAR.
Net Sales 63,951,036 54,310,274 18% 63,951,036 54,310,274 18%
Cost of Sales (36,975,086) (32,456,024) 14% (36,975,086) (32,456,024) 14%
Gross Profit 26,975,950 21,854,249 23% 26,975,950 21,854,249 23%
Selling, General
and Administrative
Expenses (5,458,854) (4,741,057) 15% (5,458,854) (4,741,057) 15%
Operating Income 21,517,095 17,113,192 26% 21,517,095 17,113,192 26%
Operating Cash Flow
(Operating Income +
Depreciation +
Leases + Cost
Actualization) 28,210,031 25,003,588 13% 26,210,031 25,003,588 13%
Operating Margin 33.7% 31.6% 33.7% 31.6%
Operating Cash Flow
Margin 44.1% 46.1 % 44.1% 46.1%
(1) Results for 1998 can be converted to dollars by dividing by the March 1998
exchange rate of 8.55. Results for 1997 can be converted to dollars by
dividing by the Mexican inflation rate of 15.30% (1.153) and then dividing
by March 1997 exchange rate of 7.92.
(2) Results for 1998 can be converted to dollars by dividing by the March 1998
exchange rate of 156.84 Results for 1997 can be converted to dollars by
dividing by the March 1997 exchange rate of 141.82.
(3) Results for 1998 can be converted to dollars by dividing by the March 1998
exchange rate of 525.25. Results for 1997 can be converted to dollars by
dividing by the Venezuelan inflation rate of 38.25% (1.3825) and then
dividing by the March 1997 exchange rate of 478.25
DETAILED INFORMATION AVAILABLE UPON REQUEST
The United States
(Thousands of Dollars)
January - March % %
INCOME STATEMENT 1998 1997 VAR. I 1998 I 1997 Var.
Net Sales 107,744 94,383 14% 107,744 94,383 14%
Cost of Sales (92,765) (84,145) 10% (92,765) (84,145) 10%
Gross Profit 14,979 10,238 46% 14,979 10,238 46%
Selling, General
and Administrative
Expenses (7,856) (7,559) 4% (7,856) (7,559) 4%
Operating income 7,124 2,679 166% 7,124 2,679 166%
Operating Cash Flow
(Operating Income
+ Depreciation
+ Leases) 14,252 9,429 51% 14,252 9,429 51%
Operating Margin 6.6% 2.8% 6.6% 2.8%
Operating Cash Flow
Margin 13.2% 10.0% 13.2% 10.0%
Colombia
(Thousands of Colombian Pesos as of Mar. 1998) (4)
January - March % %
INCOME STATEMENT 1998 1997 VAR. I 1998 I 1997 Var.
Net Sales 127,723,461 114,682,554 11% 127,723,461 114,682,554 11%
Cost of Sales (79,729,306) (67,599,523) 18% (79,729,306) (67,599,523) 18%
Gross Profit 47,994,155 47,083,031 2% 47,994,155 47,083,031 2%
Selling, General
and Administrative
Expenses (20,055,559) (19,847,508) 1% (20,055,559) (19,847,508) 1%
Operating income 27,938,596 27,235,524 3% 27,938,596 27,235,524 3%
Operating Cash
Flow (Operating
Income +
Depreciation
+ Leases) 47,328,815 44,980,393 5% 47,328,815 44,980,939 5%
Operating Margin 21.9% 23.7% 21.9% 23.7%
Operating Cash Flow
Margin 37.1% 39.2% 37.1% 39.2%
Caribbean / Central America
(Thousands of Dollars)
January - March % %
INCOME STATEMENT 1998 1997 VAR. I 1998 I 1997 Var.
Net Sales 54,909 43,176 27% 54,909 43,176 27%
Cost of Sales 37,223 28,334 31% 37,223 28,334 31%
Gross Profit 17,686 14,842 19% 17,686 14,842 19%
Selling, General
and Administrative
Expenses 4,405 3,558 24% 4,405 3,558 24%
Operating income 13,281 11,284 18% 13,281 11,284 18%
Operating Cash Flow
(Operating Income
+ Depreciation) 17,515 15,691 12% 17,515 15,691 12%
Operating Margin 24.2% 26.1% 24.2% 26.1%
Operating Cash Flow
Margin 31.9% 36.3% 31.9% 36.3%
(4) Results for 1998 can be converted to dollars by dividing by the March 1998
exchange rate of 1,358.03. Results for 1997 can be converted to dollars by
dividing by the Colombian inflation rate of 17.66% (1.1766) and then
dividing by the March 1997 exchange rate of 1,059.88
DETAILED INFORMATION AVAILABLE UPON REQUEST
END
QRFBUGBSUUDCCIG
Grafico Azioni Nationwde. 25 (LSE:94GM)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Nationwde. 25 (LSE:94GM)
Storico
Da Lug 2023 a Lug 2024
