Cemex reports 1Q22 net sales increase of 13%

Cemex reports 1Q22 net sales increase of 13%
29 April 2022

Cemex announced its first quarter of 2022 results, with consolidated net sales and EBITDA growing YoY by 13 and three per cent, respectively, despite a challenging cost environment. The growth was led by a 12 per cent increase in cement prices in LfL terms, eight per cent in ready-mix, and seven per cent in aggregates, with all regions contributing to pricing gains. 

Cemex continued to enjoy strong demand dynamics, with cement and ready-mix volumes growing high single to double-digits. The company maintained its 2022 EBITDA outlook, projecting mid-single digit growth.  

“We are quite pleased with our first quarter performance despite the unprecedented global macro challenges. Against the backdrop of the worst inflation headwinds in more than 40 years, we achieved strong pricing traction across our products. Given the tight supply/demand dynamics in most of our markets, we are optimistic that we can recover input cost inflation. In addition, our diversified energy, supply chain, and Climate Action strategies are paying off and helping us respond to energy cost pressures,” said Fernando A. González, CEO of Cemex.

“We are making significant progress on our climate action efforts, pushing the boundaries on innovation – introducing new sustainable products and developing breakthrough decarbonisation technologies. Our performance gives me great confidence that we can reach not only our 2030 climate goal but also our Net Zero ambition.” 

Geographical markets 
In the Europe, Middle East, Africa and Asia region, net sales increased 14 per cent in the first quarter, to US$1,185m. Operating EBITDA was US$145m for the quarter, 33 per cent higher than in the 1Q21.  

Cemex’s operations in the United States reported net sales of US$1196m in the first quarter, an increase of 18 per cent on the 1Q21. Operating EBITDA increased two per cent to US$200m in the first quarter. 

Net sales in Mexico increased five per cent in the first quarter, to US$881m. Operating EBITDA decreased six per cent in first the quarter, to US$286m. 

Cemex’s operations in the south, central America and the Caribbean region, reported net sales of US$416m in the first quarter, an increase of nine per cent. Operating EBITDA decreased three per cent to US$109m in the quarter. 

Published under Cement News