Fourth Quarter 2022 Growth and Climate Action
Europe: Continued resiliency despite macro
headwinds
•
Strong cement pricing traction with a 5% sequential increase and 35%
YoY growth in 4Q22
⚫ EBITDA growth of 9% in 4th quarter largely reflected our pricing efforts
while volumes declined due to a weakening demand
•
Margin declined by less than one percentage due primarily to energy
costs in 4Q22
• 41% reduction³ in CO2 emissions in Europe; well positioned to reach the
EU 55% goal for 2030
•
For 2023, we expect cement volumes in Europe to decline mid to high-
single digit, with ready mix volumes falling low to mid-single digits, and
aggregate volumes relatively flattish to down
Over the medium term, demand should be supported by public and
private projects worth more than €2 trillion euros related to
transportation, climate adaptation and energy reconfiguration, as well as
onshoring investment opportunities
1) CEMEX estimates
2) Percentages before intercompany eliminations
3) Compared to our 1990 baseline
Cement sector
demand'
I&C
CEMEX
Residential
29%
33%
38%
Infrastructure
2022
EBITDA
by country
Croatia
Czech Rep.
5%
10%
Poland
15%
2
UK
46%
9%
Germany
15%
France
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