Fourth Quarter 2022 Growth and Climate Action
SCAC: Pricing driving top line growth
•
Pricing driving top line growth, with cement prices up 12% YoY in 4Q22
Cement volumes in the region have been pressured by the rebalancing of bagged
cement post pandemic in the fourth quarter
Bulk cement, ready-mix and aggregates volumes continue to grow during the quarter,
supported by formal sector demand mainly in the industrial and residential sectors
The decline in quarterly EBITDA and EBITDA margin reflects energy, freight, and raw
materials cost headwinds
• In Colombia, cement volumes rose slightly in 4Q22, driven by social housing. For 2023,
we expect cement volumes to be flat, while ready-mix volumes to increase high single
digit
In the Dominican Republic, cement volumes declined in 4Q22 due to a drop in retail
cement demand, partially offset by higher bulk cement related to tourism projects. For
the year, we expect cement volumes to remain flat to slightly down. Activity should be
supported by tourism and industrial investments
In Panama, we continue operating as an export hub, sending record cement volumes in
4Q22 to nearby markets within the region, reducing dependency from third party
suppliers
CEMEX
Cement industry
demand'
I&C
12%
Residential
Infrastructure
18%
2022
70%
EBITDA
by country²
Panama
Nicaragua
Other
8%4%
10%
40%
Dominican
Republic
Guatemala 10%
1) CEMEX estimates
2) Percentages before intercompany eliminations.
20%
16%
Colombia
TCL Group
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