Mexican building materials giant Cemex says that it is committed to investing US$1.151bn during the remainder of the year, based on the evolution of related projects and subject to the market and other conditions.
During 1Q25 invested US$249m in capital expenditures in its continuing operations, compared to US$221m in the YoY period for 2024. The largest part of that money (US$104m) was allocated to the USA, followed by Mexico (US$45m) and European countries including Spain, Poland and Germany. Investments were also made in Latin America and the Caribbean. US$156m was spent on the maintenance of existing assets, with expansion and modernisation projects including the incorporation new technologies accounting for US$93m.
Consolidated net income for 1Q25 reached US$742m, nearly treble that of the 1Q24 (US$258m).
The company also stated that it will focus on sustainable and profitable growth and optimising operations through the Project Cutting Edge, Cemex’s multi-faceted initiative to address decarbonisation, sustainability and technological advancement. Its goal is to maximise shareholder return, operational excellence, further deleverage, increase free cash flow and shift the growth strategy from capital expenditures to small and medium-sized acquisitions in the USA.
