The Mexican cement Cemexone of the largest in the world, reported on Thursday that it reduced its investment estimate in fixed assets for this year after reporting a decline in its first-quarter net income.
Cemex, with operations in America, Europe, Africa, Asia Y Middle Eastreported a profit of 198 million dollars compared to 665 million dollars in the same period of 2021.
Its net sales grew 12% year-over-year in the quarter to $3.77 billion, although on a like-to-like basis for current operations and adjusted for currency fluctuations they were up 13 percent.
The firm, which will later offer a call with analysts to discuss its quarterly resultslowered its forecast for its capital expenditures through 2022 to $1.2 billion, according to a presentation accompanying the report, from a previous estimate of $1.3 billion.