Mexico's Cemex seen narrowing loss in fourth quarter

Tue Feb 5, 2013 2:06pm EST

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MONTERREY, Mexico, Feb 5 (Reuters) - Mexico's top cement
maker, Cemex, is expected to narrow its net loss in
the fourth quarter of 2012 from a year earlier, helped by
improved performance in its main U.S. market and cost reduction.
     A Reuters poll showed six analysts on average forecast that
Cemex lost $47 million in the October-December period, compared
with a net loss of $146 million in the same period of 2011.
    Analysts' forecasts ranged from earnings of $77 million to a
loss of $134 million.
    "Thanks to getting back to its operational level and smaller
currency exchange losses, net losses should continue to fall,"
said Santander analyst Gonzalo Fernandez in a report. 
    Cemex has posted net losses for the past 11 quarters as
global demand for cement plummeted after the financial crisis.
The 2007 purchase of Australian company Rinker also left the
company mired in debt. 
    Following is a table with the expected results. All figures
in dollars.
    
             OCT-DEC    OCT-DEC  PERCENTAGE 
             2012        2011      CHANGE 
Revenue     3.741 bln   3.706 bln   0.94 pct  
EBITDA      629 mln     542 mln     +16.05 pct  
OP. profit  299 mln     224 mln     +33.48 pct  
Net loss    -47 mln     -146 mln     n/a
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