Mexico: GCC has reported a 0.2% increase in its 2024 consolidated net sales to US$1.36bn, whilst sales in the fourth quarter of the 2024 financial year declined by 1% to US$335m.
US operations showed strength, with 4% sales growth and 4.5% increase in concrete volumes in the fourth quarter. Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 6% to US$500m for 2024, with the fourth quarter showing 4% growth to US$122m.
CEO Enrique Escalante said "GCC delivered exceptional results once again in 2024. Despite navigating a challenging economic environment, we achieved record-breaking sales, EBITDA, margins and net income. These results underscore our team’s flexibility and agility to successfully execute our strategy. Looking ahead, we remain cautious about demand dynamics. The fundamentals of our business remain strong, especially in the US market where we generated more than 75% of our EBITDA.”
