Sales of Grupo Cementos Chihuahua increased by 10.8% in 2021

The net sales of Chihuahua Cements Group (GCC) they increased by 10.8% in 2021, compared to 2020, according to their fourth-quarter financial report submitted to the Mexican Stock Exchange.

They net sales totaled 257.9 million of dollars.

The company reported a 14.2% increase in its operating profit, which went from $ 211.3 million to $ 214.3 million year-on-year.

Go for More Bank (BX +) mentioned in a report that “the company reported positive, but below our estimate, where the volumes of cement and finished blends in Mexico increased by 4.5 and 14.1% year-on-year, respectively.”

In the US market, sales represented 71% of the total, corresponding to the fourth quarter, increased by 11.2% and ended at 183.6 million dollars. This is mainly due to a 5.1% growth in cement volumes and an increase in prices of 11.8 percent.

In the fourth quarter, sales revenue in the Mexico market represented 29% of consolidated net sales, an increase of 10.4%, to $ 74.3 million. This result is derived from an increase of 4.5 and 14.1% in cement and finished mix volumes, together with a 6.9% increase in finished mix prices.

Meanwhile, cumulative sales for the United States increased by 8.3% in 2021 to $ 750.4 million, while in the Mexican market it increased by 17.9% and ended at $ 288.4 million.

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