By Kylie Madry and Aida Pelaez-Fernandez

MEXICO CITY (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.