Listed cement producer Cemex Holdings Philippines Inc. widened its consolidated net loss in the last quarter of the previous year to bring the full-year 2022 net loss to P1 billion, dragged by lower operating earnings and foreign exchange losses.
In a disclosure to the local bourse, Cemex said its consolidated net income widened by 14% to P195.444 million from P171.714 million the same quarter in 2021.
Net sales for the year declined by 2% to P20.570 billion from P20.886 billion, while operating EBITDA slipped by 26% to P2.842 billion from P3.861 billion. The company expects a flat to low-single-digit percentage decrease for its domestic cement sales volume for the year.
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