MEXICO CITY, April 28 (Reuters) - Shares in Mexican

cement maker Cemex climbed on Monday as the sale of assets in

the Dominican Republic helped its net profit nearly triple in

the first three months of 2025, even as the company reported a

year-on-year dip in core earnings.

Cemex shares climbed 4.5% in morning trading, making it

the top gainer on Mexico's main stock index, after it

reported a first quarter profit up 189% at $734 million, boosted

by the Dominican Republic sale.

Cemex said $618 million of its net profit in the quarter

came from discontinued operations.

Meanwhile it reported an 18% decline in its earnings before

interest, taxes, depreciation and amortization at $601 million,

in line with LSEG-compiled estimates, due to a weaker peso and a

dip in volumes at home, it said in a filing.

The peso caused a $65 million hit to EBITDA, Cemex said,

while volumes dropped in Mexico due to a rush last year to

finish government infrastructure projects before a presidential

election.

The firm expects its EBITDA to be flat for 2025, incoming

CEO Jaime Muguiro said during a call with analysts, coming in

upward of $3 billion.

"As part of my transition, I am conducting an exhaustive

review of our costs and organizational structure, which may lead

to additional savings," Muguiro added during the call.

Muguiro, previously head of Cemex USA, replaced retiring

long-time CEO Fernando Gonzalez at the beginning of April.

The U.S. was Cemex's largest market by sales in the first

quarter - followed by Europe, the Middle East and Africa - and

then Mexico.

The firm has shifted its focus in recent years toward the

U.S., selling off non-core businesses including in Guatemala,

the Philippines and the Dominican Republic. In February,

Bloomberg News reported that Cemex was gauging interest for a

potential sale of its Colombia unit.

Cemex said on Monday it was still eying small- to mid-size

acquisitions in the United States.

Analysts saw the results as mixed, hailing the positive net

profit but noting the weaker-than-expected core earnings.