Cemex records P819-M loss on higher input costs and lower volume

CEMEX Holdings Philippines Inc. (CHP) recorded a net loss of P819 million for the first nine months of 2022, down 191 percent from the P897-million profit it registered during the same period in 2021.

This was mainly as a result of foreign exchange loss and lower operating Ebitda (earnings before interest, taxes, depreciation and amortization), with foreign exchange accounting for the bulk at P1.5 billion for the first nine months of the year. Majority of CHP's foreign exchange loss was unrealized or non-cash expenses.