Consolidated net sales for the first quarter of 2022 increased by 15.7% to US$206.9 million from US$178.8 million in the first quarter of 2021. This was primarily due to higher cement and concrete volumes in the United Sates, increased concrete volumes in Mexico and a favourable price environment in both markets. Those were partially offset by lower cement volumes in Mexico.
U.S. sales represented 65% of GCC's 2022 first quarter consolidated net sales and increased by 20.6% to US$135.4 million. This was due to an increase in cement and concrete volumes of 10.3% and 15.7%, respectively, and an increase in cement and concrete prices of 10.3% and 1.3% respectively. The most dynamic market segments during the quarter were industrial warehouse construction and the oil and gas sector. Mexico sales, which represented 35% of GCC’s consolidated net sales, increased 7.5% in the first quarter 2022 to US$71.4 million. This was due to a 9.1% increase in concrete volumes and an increase of 11.7% and 8.1% in cement and concrete prices, which were partially offset by a 4.7% decline in cement volumes. Mexico sales during the quarter were primarily driven by demand related to industrial maquiladora plants and warehouse construction.
As a result, EBITDA increased 10.2% to US$54.5 million. EBITDA margin was 26.4%; a 130 basis-point decrease. In the first quarter of 2022, 69% of EBITDA was generated by the U.S. operations and 31% by the Mexico operations.
