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Name | Symbol | Market | Type |
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Nationwde. 25 | LSE:94GM | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS No 679m CEMEX S.A. DE C.V. 13th February 1998 PART TWO Consolidated Figures (Thousands of Pesos in Real Terms as of Dec 1997)(*) January - December % INCOME STATEMENT 1997 1996 Var. Net Sales 30,573,187 28,249,204 8% Cost of Sales (18,735,000) (17,129,381) 9% Gross Profit 11,836,187 11,119,823 9% Selling, General and Administrative Expenses (4,613,786) (4,385,847) 5% Operating Income 7,224,402 6,733,976 7% Financial Expenses (4,116,009) (5,604,592) (27%) Financial Income 300,727 446,117 (33%) Exchange Gain (Loss), Net (95,426) (846,368) (89%) Monetary Position Gain (Loss) 4,657,120 10,203,406 (54%) Total Comprehesive Financing (Cost) Income 746,412 4,198,562 (82%) Gain of (Loss) on Marketable Securities 534,292 243,084 120% Other Expenses, Net (1,109,961) (1,431,705) (22%) Other Income (Expense) (575,669) (1,188,621) (52%) Net Income Before Income Taxes 7,395,145 9,743,918 (24%) Income Tax (403,969) (756,528) (49%) Employees' Statutory Profit Sharing (131,731) (46,605) 183% Total Income Tax & Profit Sharing (535,700) (833,133) (36%) Net Income Before Participation of Uncons. Subs, and Ext, Items 6,859,445 8,910,785 (23%) Participation in Unconsolidated Subsidiaries 141,106 288,935 (51%) Consolidated Net Income 7,000,551 9,199,720 (24%) Net Income Attributable to Min. Interest 660,592 977,965 (14%) Net Income After Minority Interest 6,139,959 8,201,755 (25%) EBITD (Op. Inc. + Depreciation) 9,630,563 9,127,445 6% EBITD + Leases + Cost Actualization 9,927,015 9,387,531 8% QUARTERS % INCOME STATEMENT IV 1997 IV 1996 Var. Net Sales 7,952,732 7,333,922 8% Cost of Sales (4,779,727) (4,485,756) 7% Gross Profit 3,173,005 2,848,136 11% Selling, General and Administrative Expenses (1,269,017) (1,252,160) 1% Operating Income 1,903,988 1,595,976 19% Financial Expenses (1,021,106) (1,512,290) (32%) Financial Income 98,609 90,458 9% Exchagne Gain (Loss), Net (132,054) (180,178) (27%) Monetary Position Gain (Loss) 1,016,897 2,395,824 (58%) Total Comprehesive Financing (Cost) Income (37,654) 793,814 (105%) Gain of (Loss) on Marketable Securities 302,817 52,704 475% Other Expenses, Net (463,035) (478,090) (3%) Other Income (Expense) (160,218) (425,386) (62%) Net Income Before Income Taxes 1,706,117 1,964,403 (13%) Income Tax (61,378) (125,137) (51%) Employees' Stautory Profit Sharing (57,845) 75,776 (176%) Total Income Tax & Profit Sharing (119,224) (49,361) 142% Net Income Before Participation of Uncons. Subs, and Ext, Items 1,566,893 1,915,042 (17%) Participation in Unconsolidated Subsidiaries 14,303 139,362 (90%) Consolidated Net Income 131,654 186,356 (29%) Net Income Attributable to Min. Interest 131,654 186,356 (29%) Net Income After Minority Interest 1,469,532 1,868,048 (21%) EBITD (Op. Inc. + Depreciation) 2,475,109 2,158,017 15% EBITD + Leases + Cost Actualization 2,543,806 2,213,425 15% January - December % BALANCE SHEET 1997 1996 Var. Total Assets 82,567,726 83,457,280 (1%) Cash and Temporary Investments 3,069,338 3,430,872 (11%) Trade Accounts Receivables 3,675,328 3,403,218 8% Other Receivables 1,562,971 1,548,819 1% Investories 3,449,584 3,504,279 (2%) Other Current Assets 642,153 883,901 (27%) Current Assets 12,399,374 12,771,087 (3%) Fixed Assets 48,466,863 48,204,643 1% Other Assets 21,701,489 22,481,550 (3%) Total Liabilities 44,668,852 47,052,048 (5%) Current Liabilities 10,245,844 11,500,688 (11%) Long-Term Liabilities 2,459,365 2,360,611 4% Consolidated Stockholders' Equity 37,898,874 36,405,233 4% Stockholders' Equity Attributable to Minority Interest 9,531,765 8,395,318 14% Stockholders' Equity Attributable to Majority Interest 28,367,108 28,009,914 1% CONSOLIDATED FIGURES Financial and Operating Indicators (Thousands of Pesos in Real Terms as of Dec. 1997)(*) JANUARY-DECEMBER % QUARTERS % FINANCIAL INDICATORS 1997 1996 VAR IV 1997 IV1996 Operating Margin 23.6% 23.8% (1%) 23.9% 21.8% 10% Current Ratio (Current Assets/Current Liagilities) 1.21 1.11 9% Debt/Total Capitalization 49.6% 53.0% (6.4%) Debt Coverage (EBITD/int. Exp.) (1) 2.34 1.63 44% 2.42 1.43 70% Debt Coverage (EBITD Leases/ Int. Exp.)(1) 2.41 1.67 44% 2.49 1.46 70% Return on Equity (Con. Net Sh. Equity)(1) 18.6% 24.7% (25%) 4.2% 5.6% (25%) Return on Assets (Con. Net Income/Total Assets)(1) 8.4% 11.0% (24%) 1.9% 2.5% (21%) Earnings per Share(2) 4.97 6.69 (26%) 1.20 1.50 (20%) Cash Flow per Share(2) 7.79 7.45 5% 2.02 1.73 17% Cash Earnings per Share(2) 4.70 3.24 45% 1.27 0.59 115% JANUARY-DECEMBER QUARTERS QUARTERS VOLUMES Variation in Volumes 1997-1996 IV 1997-IV 1996 IV 1997-III 1997 MEXICO 3% (8%) (5%) Domestio (Met. Tons, Gray Cement) 12% 2% 1% Exports (Met. Tons) (25%) (39%) (30%) Ready-mix (m3) 33% 27% 13% U.S.A. Cement (Met. Tons) (3%) 2% (11%) Ready-mix (m3) 2% 8% (10%) Aggregates (Met. Tons) 0% 4% (6%) SPAIN 14% 24% 1% Domestic (Met. Tons) 21% 32% (2%) Exports (Met. Tons) (4%) 3% 15% Ready-mix (m3) 17% 18% (5%) VENEZUELA 5% 8% 2% Domestic (Met. Tons) 15% 28% (6%) Exports (Met. Tons) (4%) (7%) 13% Ready-mix (m3) 40% 45% 5% PANAMA Domestic (Met. Tons) 29% 20% (8%) Ready-mix (m3) 112% 33% (30%) DOMINICAN REPUBLIC Domestic (Met. Tons) 8% 11% 2% Ready-mix (m3) 100% 100% 29% COLOMBIA Domestic (Met. Tons) N/A N/A 5% Ready-mix (m3) N/A N/A (5%) (*) Figures can be converted to dollars by using constant pesos of 1997 and dividing them by 8.07; and using constant pesos of 1996 and deflating them using 1.0653 as the weighted average inflation rate for Cemex and dividing them by 7.88. (1) Trailing twelve months. (2) Considering 1,222,846 thousand average shares for IV 1997, 1,243,899 thousand average shares for IV 1996 1,236,010 thousand average shares for 1997 and 1,225,870 thousand average shares for 1996. Consolidated Figures (Convenience transaction in thousands of dollars)(*) January - December % Quarters % INCOME STATEMENT 1997 1996 Var IV 1997 IV1996 Var Net Sales 3,768,499 3,365,178 13% 985,469 873,651 13% Cost of Sales (2,321,561) (2,040,532) 14% (592,283) (534,368) 11% Gross Profit 1,466,938 1,324,646 11% 393,185 339,283 16% Selling, General and Administrative Expenses (571,721) (522,463) 9% (157,251) (149,163) 6% Operating Income 695,217 802,183 12% 235,934 190,120 24% Financial Expenses (510,038) (667,645) (24%) (126,531) (180,151) (30%) Financial Income 37,265 53,144 (30%) 12,219 10,776 13% Exchagne Gain (Loss), Net (11,825) (100,823) (88%) (16,364) (21,464) (24%) Monetary Position Gain (Loss) 577,090 1,215,478 (53%) 126,010 285,402 (56%) Total Comprehesive Financing (Cost) Income 92,492 500,153 (82%) (4,666) 94,563 (105%) Gain of (Loss) on Marketable Securities 66,207 28,957 129% 37,524 6,278 498% Other Expenses, Net (137,542) (170,551) (19%) (57,377) (56,952) 1% Other Income (Expense) (71,334) (141,594) (50%) (19,854) (50,674) (61%) Net Income Before Income Taxes 916,375 1,160,741 (21%) 211,415 234,009 (10%) Income Tax (50,058) (93,695) (47%) 7,600 (14,907) (49%) Employees' Stautory Profit Sharing (16,324) (5,652) 194% (7,168) 9,027 (179%) Total Income Tax & Profit Sharing (66,382) (99,247) (33%) (14,774) (5,880) 151% Net Income Before Participation of Uncons. Subs, and Ext, Items 849,993 1,061,495 (20%) 196,641 228,129 (14%) Participation in Unconsolidated Subsidiaries 17,485 34,419 (49%) 1,772 16,601 (89%) Consolidated Net Income 867,478 1,095,914 (21%) 198,413 244,730 (19%) Net Income Attributable to Min. Interest 106,641 118,882 (10%) 16,315 22,200 (27%) NET INCOME AFTER MINORITY INTEREST 760,837 977,032 (22%) 182,098 222,531 (18%) EBITD (Op. Inc. + Depreciation) 1,193,378 1,087,304 10% 306,705 257,073 19% EBITD + Leases + Cost Actualization 1,230,113 1,118,287 10% 315,218 263,674 20% January - December % BALANCE SHEET 1997 1996 Var Total Assets 10,231,441 9,941,824 3% Cash & Temporary Investments 380,339 408,702 (7%) Trade Accounts Receivables 455,431 405,407 12% Other Receivables 193,677 184,503 5% Inventories 427,458 417,446 2% Other Current Assets 79,573 105,294 (24%) Current Assets 1,536,478 1,521,352 1% Fixed Assets 6,005,807 5,742,364 5% Other Assets 2,689,156 2,678,108 0% Total Liabilities 5,535,174 5,605,062 (1%) Current Liabilities 1,269,621 1,370,016 (7%) Long-Term Liabilities 3,960,798 3,953,838 0% Other Liabilities 304,754 281,207 8% Consolidated Stockholders Equity 4,696,287 4,338,753 8% Stockholders Equity Attributable to Minority Interest 1,181,136 1,000,090 18% Stockholders Equity Attributable to Majority Interest 3,515,131 3,336,573 5% CEMEX, S.A. DE C.V. AND SUBSIDIARIES Consolidated Figures (Convenience translation in thousands of dollars)(*) JANUARY-DECEMBER % QUARTERS % FINANCIAL INDICATORS 1997 1996 VAR IV 1997 IV1996 Operating Margin 23.6% 23.8% (1%) 23.9% 21.8% 10% Current Ratio (Current Assets/Current Liabilities) 1.21 1.11 9% Debt/Total Capitalization 49.6% 53.0% (6.4%) Debt Coverage (EBITD/int. Exp.) (1) 2.34 1.63 44% 2.42 1.43 70% Debt Coverage (EBITD Leases/ Int. Exp.)(1) 2.41 1.67 44% 2.49 1.46 70% Return on Equity (Con. Net Sh. Equity)(1) 18.6% 24.7% (25%) 4.2% 5.6% (25%) Return on Assets (Con. Net Income/Total Assets)(1) 8.4% 11.0% (24%) 1.9% 2.5% (21%) Earnings per Share(2) 0.62 0.79 (22%) 0.15 0.18 (17%) Cash Flow per Share(2) 0.97 0.87 10% 0.25 0.21 21% Cash Earnings per Share(2) 0.58 0.38 51% 0.16 0.07 123% JANUARY-DECEMBER QUARTERS QUARTERS VOLUMES Variation in Volumes 1997-1996 IV 1997-IV 1996 IV 1997-III 1997 MEXICO 3% (8%) (5%) Domestio (Met. Tons, Gray Cement) 12% 2% 1% Exports (Met. Tons) (25%) (39%) (30%) Ready-mix (m3) 33% 27% 13% U.S.A. Cement (Met. Tons) (3%) 2% (11%) Ready-mix (m3) 2% 8% (10%) Aggregates (Met. Tons) 0% 4% (6%) SPAIN 14% 24% 1% Domestic (Met. Tons) 21% 32% (2%) Exports (Met. Tons) (4%) 3% 15% Ready-mix (m3) 17% 18% (5%) VENEZUELA 5% 8% 2% Domestic (Met. Tons) 15% 28% (6%) Exports (Met. Tons) (4%) (7%) 13% Ready-mix (m3) 40% 45% 5% PANAMA Domestic (Met. Tons) 29% 26% (8%) Ready-mix (m3) 112% 32% (30%) DOMINICAN REPUBLIC Domestic (Met. Tons) 8% 11% 2% Ready-mix (m3) 100% 100% 29% COLOMBIA Domestic (Met. Tons) N/A N/A 5% Ready-mix (m3) N/A N/A (5%) (*) Figures were converted to dollars by using constant pesos of 1997 and dividing them by 8.07; and using constant pesos of 1996 and deflating them using 1.0653 as the weighted average inflation rate for Cemex and dividing them by 7.88. (1) Trailing twelve months. (2) Considering 1.222,846 thousand average shares for IV 1997, 1,243,899 thousand average shares for IV 1996 1,236,010 thousand average shares for 1997 and 1,225,870 thousand average shares for 1996. MEXICO (Thousands of Constant Pesos as of Dec. 1997)(1) January - % Quarters % December INCOME STATEMENT 1997 1996 Var. IV 1997 IV 1996 Var Net Sales 13,865,452 13,610,789 2% 3,731,990 3,675,629 2% Cost of Sales (8,046,313) (7,651,022) 5% (1,999,264)(2,133,989) (6%) Gross Profit 5,819,140 5,959,766 (2%) 1,732,728 1,541,640 12% Selling, General and Administrative Expenses (1,707,042) (1,748,965)(2%) (450,023) (461,344) (2%) Operating Income 4,112,098 4,210,801 (2%) 1,282,703 1,080,296 19% EBITD (Op.Inc. + Depreciation) 5,162,163 5,351,936 (4%) 1,468,147 1,340,182 10% Operating Margin 29.7% 30.9% (4%) 34.4% 29.4% 17% SPAIN (Thousands of Constant Pesos)(2) January - % Quarters % December INCOME STATEMENT 1997 1996 Var. IV 1997 IV 1996 Var Net Sales 109,795,242 91,371,007 20% 27,598,163 21,406,136 29% Cost of Sales (72,920,459)(58,095,717)26% (18,520,956)(14,035,030)32% Gross Profit 36,874,783 33,275,290 11% 9,077,207 7,371,106 23% Selling, General and Administrative Expenses (13,240,723)(11,722,459)13% (3,497,564)(3,175,392) 10% Operating Income 23,634,060 21,552,831 10% 5,579,644 4,195,714 33% EBITD (Op.Inc. + Depreciation) 37,718,655 30,173,099 25% 9,198,162 6,294,780 45% Operating Margin 21.5% 23.6% (9%) 20.2% 19.6% 3% VENEZUELA (VENCEMOS) (Thousands of Constant Bolivares as of Dec. 1997)(3) January - % Quarters % December INCOME STATEMENT 1997 1996 Var. IV 1997 IV 1996 Var Net Sales 233,412,030 222,803,971 5% 58,778,792 52,094,055 13% Cost of Sales (133,810,141)(124,913,570) 7% (34,315,313)(32,550,780) 5% Gross Profit 99,801,890 97,890,401 2% 24,463,479 19,543,276 25% Selling, General and Administrative Expenses (16,779,352)(20,734,665)(9%) (5,232,211)(5,789,509)(10%) Operating Income 80,822,538 77,155,786 5% 19,231,268 13,753,766 40% EBITD (Op.Inc. + Depreciation) 102,179,954 102,688,467 (0%) 24,242,953 19,892,316 22% Operating Margin 34.6% 34.6% (4%) 32.7% 26.4% 24% (1) Peso figures be converted to dollars by using constant pesos of 1997 and dividing them by 8.07 and using constant pesos of 1996 and deflating them using 1.1572 as inflation rate in Mexico and dividing them by 7.88. (2) Peseta figures can be converted to dollars using the following exchange rates: 151.7 per dollar for 1997 and 129.7 per dollar for 1996. (3) Bolivar figures can be converted to dollars by using constant bolivars of 1997 and dividing them by 504.75 and those for 1996 using constant bolivars of 1996 and deflating them using 1.3761 as inflation rate in Venzuela and dividing them by 476.75. The United States (Cemex USA Inc.) (Thousands of Dollars) JANUARY-DECEMBER % QUARTERS % INCOME STATEMENT 1997 1996 VAR IV 1997 IV1996 VAR Net Sales 435,428 405,792 7% 108,885 100,399 8% Cost of Sales (376,464) (343,875) 9% (94,668) (87,373) 8% Gross Profit 58,964 61,917 (5%) 14,217 13,026 9% Selling, General and Administrative Expenses (31,301) (30,655) 2% (8,013) (8,073) (1%) Operating Income 27,663 31,262 (12%) 6,204 4,953 25% EBITD (Op. Inc. + Depreciation) 44,477 48,659 (9%) 10,193 9,550 7% Operating Margin 6.4% 7.7% (18%) 5.7% 4.9% 16% COLOMBIA (4) (Thousands of Colombian Pesos as of Dec. 1997)(5) JANUARY-DECEMBER % QUARTERS % INCOME STATEMENT 1997 1996 VAR IV 1997 IV1996 VAR Net Sales 479,216,508 196,342,688 N/A 130,825,478 71,116,850 N/A Cost of Sales (301,680,006) (125,372,049) N/A (83,311,296) (51,232,429) N/A Gross Profit 177,536,502 69,970,639 N/A 47,514,182 19,884,421 N/A Selling, General and Administrative Expenses (71,679,782) (26,872,578) N/A (21,886,771) (9,570,920) N/A Operating Income 105,856,719 43,098,061 N/A 25,627,411 10,313,501 N/A EBITD (Op. Inc. + Depreciation) 174,184,552 59,464,469 N/A 46,995,252 19,880,176 N/A Operating Margin 22.1% 22.1% N/A 19.6% 14.5% N/A (4) The cumulative results through December 1996 and those for the fourth quarter of 1995 only Diamante's results. Beginning in the first quarter of 1997 the results of both Damante and Samper are fully consolidated. (5) Figures for 1997 can be converted to dollars by using constant Colombian pesos of 1997 and dividing them by 1.294 and those for 1996 using constant Colombian pesos of 1996 and deflating them using 1.174 as inflation rate in Colombia and dividing them by 1005. DETAILED INFORMATION AVAILABLE UPON REQUEST. Conference Call Notification Cemex S.A. de C.V. cordially invites you to the 1997 Fourth Quarter conference call Hosted by: Hector Medina and Senior Management Date: Friday, February 13, 1998 Time: 10:00 a.m. Eastern Time Access Number: (719) 448-2000 Chairman Lorenzo Zambrano will join the call to discover the outlook for 1998 and other members of senior management will be available during the question and answer session. If you have any questions, please call Kristin Anderson at Ludgate Communications - (212) 688-5144 Conference Call Playback Available Continuous playback will be available for your convenience. You may dial 24 hours a day from 2:00 p.m. on Friday the 13th through midnight on Tuesday the 17th of February. Playback number: (402) 222-9908 END QRRBLGBDXUBCCIL
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