GCC, a supplier and producer of cement and concrete in the United States and Mexico, announced its results for the fourth quarter and full year of 2021.
Consolidated net sales increased 10.8% to $1,038.8 million for the full year 2021, while EBITDA increased 9.6% to $337.9 million with a 32.5% EBITDA margin. For the fourth quarter, consolidated net sales increased 10.9% to $257.9 million. EBITDA for the quarter remained unchanged at $81.3 million, with a 31.5% EBITDA margin.
“GCC had another extraordinary year surpassing $1 billion in sales with record high EBITDA, despite the inflationary environment and supply chain challenges,” said Enrique Escalante, GCC’s chief executive officer. “We will capitalize on opportunities to further increase prices and offset incremental costs, and our plant expansion will ensure GCC is well positioned for the growth we anticipate from the Infrastructure Investment and Jobs Act.”
GCC reported that total U.S. cement volumes for the year grew 5.6%; however, excluding oil well cement, volumes only increased 1.5%. The company’s sales in Mexico increased 17.9% as cement and concrete volumes increased 6.9% and 19.1%, respectively.
U.S cement and concrete prices rose 8.9% and 5.1%, respectively, during 2021.
During the fourth quarter of 2021, total U.S. cement volumes grew 5.1%, but decreased 5.5% when excluding oil well cement. GCC’s Mexico cement and ready-mix volumes increased 4.5% and 14.1%, respectively, during the quarter.
U.S. cement and ready-mix prices in the fourth quarter increased 11.8% and 3%, respectively.