Cemex 1997 Annual Report Download - page 35

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Selected consolidated
financial information
(in millions of constant pesos as of December 31, 1997, except share and per share amounts)
CEMEX, S.A. DE C.V. AND SUBSIDIARIES
29
1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997
Income Statement Information
Net Sales $ 8,599 7,537 11,756 12,235 14,085 16,496 20,451 22,007 26,965 28,249 30,573 13.5%
Cost of Sales (1) 5,766 5,266 9,193 8,697 8,788 10,310 12,330 12,692 16,445 17,129 18,735
Gross Profit 2,833 2,271 2,562 3,537 5,297 6,186 8,121 9,314 10,520 11,120 11,838 15.4%
Operating Expenses 784 751 1,434 1,670 1,828 2,150 3,138 3,408 4,081 4,386 4,614
Operating Income 2,049 1,520 1,128 1,867 3,469 4,036 4,982 5,909 6,439 6,734 7,224 13.4%
Comprehensive Financing (Cost)
Income, Net (2) (32) 24 621 (50) 1,025 1,346 176 (169) 5,960 4,442 1,281
Other Income (Expenses), Net 1,212 861 52 (397) (389) (668) (711) (1,394) (1,702) (1,432) (1,110)
Income Before Taxes & Others 3,293 2,405 1,802 1,420 4,106 4,714 4,449 4,345 10,695 9,744 7,395 8.4%
Minority Interest(3) 380 317 293 279 492 527 684 473 1,145 998 861
Majority Net Income 2,612 2,053 1,437 1,383 3,649 4,095 3,686 3,935 7,984 8,202 6,140 8.9%
Earnings per Share (4)(5)(6) 2.34 1.84 1.29 1.25 3.27 3.88 3.49 3.66 6.21 6.32 4.78 7.4%
Dividends per Share (4)(7) 0.40 0.16 0.13 0.14 0.48 0.52 0.64 0.66 0.69 –
(8) n.a.
Number of Shares
Outstanding (4)(5) 1,114 1,114 1,114 1,114 1,114 1,056 1,056 1,077 1,286 1,303 1,268
Balance Sheet Information
Cash and Temporary Investments 3,090 2,130 2,037 1,362 1,670 2,886 2,305 5,075 3,729 3,431 3,069
Net Working Capital (9) 1,412 1,575 2,471 2,216 2,361 4,226 4,201 5,527 5,960 5,128 4,746 12.9%
Property, Machinery &
Equipment, Net 12,923 12,596 22,268 22,096 21,581 31,000 31,114 42,877 51,933 48,205 48,467 14.1%
Total Assets 19,400 19,285 32,142 32,224 31,776 56,064 56,603 82,686 88,019 83,457 82,568 15.6%
Short-term Debt 1,002 775 3,941 2,446 1,187 6,645 4,827 6,783 9,153 6,842 5,305
Long-term Debt 2,231 1,603 8,659 9,775 10,463 18,315 20,233 32,636 31,901 33,191 31,964
Minority Interest(3) 2,213 2,049 3,350 4,441 3,372 4,881 5,441 8,074 9,346 8,395 9,532
Stockholders’ Equity, excluding
Minority Interest 12,445 13,231 13,989 13,101 15,139 21,887 22,768 29,666 30,267 28,010 28,367 8.6%
Book Value per Share (4)(5) 11.17 11.87 12.55 11.76 13.59 20.74 21.56 27.54 23.54 21.49 22.36
Other Financial Data
Operating Margin 23.8% 20.2% 9.6% 15.3% 24.7% 24.4% 24.4% 26.8% 23.9% 23.8% 23.6%
EBITD(10) 2,939 2,156 2,105 3,041 4,678 5,259 6,454 7,528 8,573 9,127 9,631 12.6%
Depreciation and Amortization 891 637 1,039 1,344 1,524 1,681 1,786 2,003 3,319 2,975 3,376
Net Resources Provided by
Operating Activities (11) 6,875 2,319 2,272 2,851 4,298 6,148 5,340 6,662 14,928 12,826 10,216
AVERAGE ANUAL
GROWTH 87-97
Footnotes to selected consolidated financial information on page 41