Production value, as well as sales volumes of concrete and aggregates performed well in the first three months of 2015, according to the INEGI, which resulted in Cemex raising its full-year guidance and revenue expectations.
Recovery of infrastructure and positive performance in the residential sector, resulted in growth for Cemex of 13 percent in sales volumes of gray cement in the first quarter of 2015, its highest level in the past six years, as reported to the Bolsa Mexicana de Valores (BMV).
During a conference call with analysts, Fernando Gonzalez, CEO of Cemex, said that the first quarter of this year was a turning point for the demand for their products, since in addition to sustained growth in the commercial, industrial and residential sectors, infrastructure was up 6 percent.
“With regard to the infrastructure sector, the budget of Mexico’s Secretaria de Comunicaciones y Transporte (SCT), which implies significant demand for cement and related products is expected to grow double digits in 2015, even after budget cuts,” he added.
According to INEGI, production value in Mexico grew 2.7 percent in January 2015, its highest level for a first month of the year since 2011. Gray cement sales volumes of concrete and aggregates performed well in Mexico, with increases of 9 and 7 percent, respectively, compared with the first three months of 2014.
Based on these results and positive external environment, CEMEX raised their guidance and expectations for growth in cement volumes and concrete for 2015 to a range of 5 and 9 percent.Older postNewer post