CEMEX reports double-digit top-line growth with record reduction in CO2 emissions in 2022

CEMEX’s Consolidated 2022 Full Year and 4^th Quarter Financial and Operational Highlights.

• Net Sales increased 12% to US$15.577 billion in 2022, and 12% to US$3.869 billion in 4^th quarter.
• Operating EBITDA decreased 3% to US$2.681 billion in 2022, and 1% to US$630 million in 4^th quarter.
• Operating EBITDA margin decreased 2.5pp in 2022, to 17.2%, and declined by 1.7pp, to 16.3% in 4^th quarter.
• Free Cash Flow after Maintenance Capital Expenditures was US$553 million in 2022, and US$391 million in 4^th quarter.
• Net income, after adjusting for non-cash impairments of goodwill, rose 1% in 2022, and 36% in 4^th quarter.

“2022 was a year of unique challenges as inflation spiked to 40-year highs, but I am pleased by how we responded and expect to continue to see the benefits of our strategy play out in 2023,” said Fernando A. González, CEO of CEMEX. “Importantly, after several quarters in which we have been able to offset inflation in dollar terms, I am seeing growing evidence that actual margin recovery is underway. While EBITDA margin declined in 4th quarter, the contraction was the lowest of the year, and sequential margins stabilised in a quarter where we historically see a significant decline due to seasonality. We also continued to achieve record-breaking reductions in CO2 emissions. Since the introduction of our Future in Action program in 2020, we have reduced emissions by approximately 9%, a reduction that in the past took us more than a decade to achieve”.

Geographical Markets 2022 Full Year and 4^th Quarter highlights

• Net Sales in Mexico increased 9% in 2022, to US$3.842 billion, and 13% in fourth quarter, to US$1.016 billion. Operating EBITDA decreased 5% in 2022, to US$1,133 million, and increased 4% in fourth quarter, to US$271 million.
• CEMEX’s operations in the United States reported Net Sales of US$5,038 million in 2022, an increase of 16%, and US$1.221 billion in fourth quarter, an increase of 12%. Operating EBITDA remained flat at US$762 million in 2022 and increased 16% to US$202 million in fourth quarter.
• In the Europe, Middle East, Africa and Asia region, Net Sales increased by 14% in 2022, to US$4.93 billion, and 14% in fourth quarter, to US$1.199 billion. Operating EBITDA was US$670 million in 2022, 11% higher, and US$146 million for the fourth quarter, 2% higher.
• CEMEX’s operations in the South, Central America and the Caribbean region, reported Net Sales of US$1.605 billion in 2022, an increase of 6%, and US$377 million in fourth quarter, an increase of 2%. Operating EBITDA decreased by 8% to US$382 million in 2022 and decreased 13% to US$84 million in the fourth quarter.

(1) Before others and intercompany eliminations.

(2) Highest reported 4th quarter EBITDA since 2007.

Note: All percentage variations related to Net Sales and EBITDA are on a like-to-like basis for the ongoing operations and for foreign exchange fluctuations compared to the same period of last year.

Read the article online at: https://www.worldcement.com/the-americas/13022023/cemex-reports-double-digit-top-line-growth-with-record-reduction-in-co2-emissions-in-2022/