CEMEX reports 2Q22 net sales growth of 11%

CEMEX reports 2Q22 net sales growth of 11%
29 July 2022

CEMEX has announced continued solid top line growth, with second quarter net sales growing 11 per cent to US$4080m in the 2Q20. Pricing was the main driver with prices of cement, ready-mix and aggregates increasing 16,12, and 14 per cent, respectively. 

With a difficult second quarter 2021 comparison base, EBITDA decreased by eight per cent to US$723m, primarily due to higher energy costs and supply chain disruptions. Cemex group’s net income totalled US$265m in the 2Q22. 

“I am pleased that our pricing strategy is yielding results and has fully offset inflationary costs in the quarter. With improved supply chain dynamics and continued success of our pricing and cost containment strategies, we remain confident we can recover 2021 margins,” said Fernando A González, CEO of CEMEX. “Our decarbonisation programme, Future in Action, continues making significant progress, with record levels of alternative fuel usage and clinker factor resulting in a three per cent reduction in CO2 emissions in the first half of this year. We remain on track to achieve our ambitious 2030 goals, and on the right path to achieve carbon neutrality. On the digital innovation front, our industry-leading digital platform CEMEX Go continues evolving to provide our customers a superior fully automated digital experience.” 

In the Europe, Middle East, Africa and Asia region, net sales increased 12 per cent in the 2Q22 to US$1294m. Operating EBITDA was US$193m for the quarter, eight per cent higher than in 2Q21. Net sales in Mexico increased seven per cent in the second quarter, to US$998m. Operating EBITDA decreased four per cent in the 2Q22 to US$320m. 

CEMEX’s operations in the USA reported net sales of US$1,296m in the second quarter, an increase of 15 per cent. Operating EBITDA decreased 24 per cent to US$162m in the 2Q22. 

CEMEX’s operations in the south, central America and the Caribbean region, reported net sales of US$418m in the second quarter, an increase of 10 per cent. Operating EBITDA decreased seven per cent to US$99m in the quarter. 

Published under Cement News