GCC, S.A.B. de C.V. (GCC) announced its results for the second quarter 2021.
Mexico cement and ready-mix volumes increased 17.1% and 41.4%, respectively. Total U.S. cement volumes grew 10.6% and rose 4% excluding oil well cement. U.S. cement and ready-mix prices increased 8.3% and 6%.
Consolidated net sales increased 18.1%, to US$286.7 million. EBITDA increased 18.6% to US$97 million, with a 33.8% EBITDA margin.
Consolidated net sales increase was primarily due to higher cement volumes in the United Sates, increased cement and concrete volumes in Mexico and a favorable price environment in both markets. Those were partially offset by lower concrete volumes in the U.S.
For comparative purposes, consolidated net sales, excluding the appreciation of the Mexican peso against the U.S. dollar during the first half of the year, increased by 7.5%.
