Cemex 2013 Annual Report Download - page 35
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Our UK operations’ domestic gray cement and ready-mix
concrete volumes increased 7% and 4%, respectively, while
our aggregates volumes declined 2% in 2013. Improving
macroeconomic conditions contributed to higher construc-
tion activity for the year. Cement volumes during the year
were driven by the residential sector, which benefited from
governmental incentives to promote home ownership.
Our French operations’ ready-mix concrete volumes
decreased 6%, while our aggregates volumes increased
3% for the year. Infrastructure activity was supported by
ongoing highway and high-speed railway projects that
started during 2012. The residential sector was nega-
tively affected by tight credit availability, the reduction
of government housing incentives, and a less attractive
buy-to-let program.
In Germany, our operations’ domestic gray cement vol-
umes increased 1% for the year. The main driver of de-
mand for our products was the residential sector, which
benefited from low unemployment and mortgage rates,
as well as increased wages and salaries. The infrastructure
sector remained stable during the year.
Domestic gray cement volumes for our operations in Po-
land declined 18% for the year. During 2013, the decrease
in volumes in the infrastructure sector resulted from the
high base of activity in the previous year, the decline in
EU funds for capital investment in the public sector, the
financial difficulties of some construction companies, and
the delay of some projects. Residential construction sector
activity was negatively affected by lower average wages
resulting from the economic slowdown, while the industri-
al-and-commercial sector remained stable.
Mediterranean
Net sales from our operations in the Mediterranean
region increased 4% year over year to US$1.5 billion,
while operating EBITDA declined 13% to US$325 million
in 2013. As a whole, our regional operations’ domestic
gray cement and aggregates volumes decreased 1% and
3%, respectively, while our ready-mix concrete volumes
increased 6% for the year.
In Egypt, our operations’ domestic gray cement volumes
increased 7% in 2013. The main driver of cement con-
sumption in the country remains the informal sector. The
formal residential sector experienced a slight increase in
construction activity toward the end of the year.
Our Spanish operations’ domestic gray cement and
ready-mix concrete volumes decreased 28% and 27%,
respectively, for the year. The decline in demand for
building materials reflected the adverse situation in the
country. The continued fiscal austerity measures and
spending cuts kept infrastructure spending at very low
levels. In the residential sector, a gradual reduction in
home inventories was visible during the year.
El Palmeral de las Sorpresas,
Spain
Leipzig City-Tunnel, Germany
[34]