1Q22 Earnings Report
US: Strong demand amid sold-out markets drive pricing
initiatives
9% growth in sales in 1Q22, driven by strong demand across all products,
with most of our markets sold out
■CEMEX
Building a better future
Cement industry demand'
Sequential cement prices up 4%, reflecting January price increases in
markets representing 40% of volumes
•
Remaining markets repriced in April and subsequent pricing increases for
summer months have been announced
On the cost side, imports, logistics, and energy continue to be the biggest
headwinds to margins, resulting in a YoY decline, but sequential margins
improved almost 1pp
We expect low-single digit growth in volumes for cement, ready-mix, and
aggregates in 2022, driven by the residential sector and a recovery in I&C
With today's challenging global shipping market, will take full advantage of
imports, by rail and water from our Mexican operations in order to meet
customer needs
New infrastructure bill to yield incremental demand for our products by 2023
1) CEMEX estimates
I&C
15%
Residential
30%
Infrastructure
55%
EBITDA
US$ M
+2%
200
196
1Q21
1Q22
EBITDA
19.4%
16.8%
margin
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