Fourth Quarter 2022 Growth and Climate Action
CEMEX
US: Record 4Q22 EBITDA¹ despite adverse weather
conditions
Despite significant weather challenges impacting most of our markets, EBITDA grew
mid teen percent to a record 4th quarter result
Cement industry
I&C
demand²
Growth was fueled by price gains in excess of 20% that more than offset lower
volumes during the quarter
15%
Infrastructure
50%
35%
•
•
•
•
YoY EBITDA margin for the quarter expanded for the first time since early 2021, while
sequential margin also improved for the 2nd straight quarter, benefiting from higher
prices, lower maintenance and lower imports
Full year EBITDA was driven by mid-teen percentage points growth in pricing and low
single digit volume growth
In January, we signed an agreement to purchase Atlantic Minerals Limited in a
transaction that will expand our US aggregates reserves by ~20%. We expect this deal
to close shortly and to be accretive in 2024
For 2023, we expect low-single digit volume decline across all products driven by the
residential sector
Remain optimistic on growth in industrial and commercial and infrastructure sectors
underpinned by nearshoring trends along with funding available under the CHIPS Act,
the Inflation Reduction Act and the Infrastructure Investment and Jobs Act
1) Highest reported fourth quarter EBITDA since 2007
2) CEMEX estimates
Millions of U.S. dollars
Residential
EBITDA
$M
+16%
4Q21
4Q22
EBITDA
15.9%
16.5%
margin
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