The company run by Fernando González described its 2023 results as exceptional, and announced a dividend payment program of up to $120 million in the first year, but its shares lost more than 7%. The reason? The figures were slightly lower than the market consensus, a conservative guide to results for 2024, and the increase in the net loss due to a million-dollar fine imposed in Spain for a tax resolution against it. However, brokerages such as Goldman Sachs and JP Morgan maintained their recommendations and target prices, while Banorte’s stock market analysis team explained that the report reaffirmed its expectations that Cemex’s growth dynamics should continue, although at a lower rate. pace, so it will revise its estimates and target price with positive implications.
For its part, Santander considered that the EBITDA guide for 2024 seems widely achievable with low or mid-single digit growth, which would total $3.5 billion; Cemex expects a decrease in energy costs; that capital spending reaches $1.6 billion; and consolidated cement volumes would remain stable. Santander highlighted operations in the United States and Mexico where the company expects single-digit volume growth, and highlighted that the presidential election cycle has a positive effect in the first half of the year, and in terms of taxes, Cemex expects tax one billion dollars, and of that amount the majority would be related to the tax fine in Spain.
Valuable craftsmanship
Preparations are advancing for the first edition of the Xcaret Fair of Mexican Popular Art organized by Parque more than 140 master artisans from all over the country, with highly recognized names and also emerging values, to exhibit their creations to collectors, interior decorators and lovers of Mexican art. The great event is scheduled from September 19 to 22, 2024 at the Hacienda Henequenera in Xcaret Park.
Mangiare!
Within the framework of World Pizza Day, the Gran Fiesta Americana Guadalajara hotel opens an exclusive wood-fired oven for making pizzas, as part of its positioning strategy as a benchmark in terms of innovation, service and hospitality for guests and visitors. and take advantage of the growing trend of customers willing to move to places that offer the best quality products and personalized service. Grand Fiesta Americana has 8 units and 1,910 rooms; and represents 6.4% of the hotels of Posadas, the most important hotel chain in Mexico.
@robertoah