Cemex reported a strong improvement in cash generation in 2025, with free cash flow from operations rising by 50 per cent YoY, supported by its ongoing transformation programme and improved second-half performance.
For the full year, EBITDA increased by one per cent, with growth accelerating in 2Q25. Cemex said its Project Cutting Edge initiative delivered US$200m in recurring EBITDA savings, contributing to stable full-year margins and improved operating leverage across most regions.
4Q25 performance was particularly robust, with net sales and EBITDA increasing at double-digit rates, driven by a recovery in Mexico and solid results in Europe, the Middle East and Africa. The United States delivered record 4Q25 EBITDA, supported by operating efficiencies, while EMEA benefited from higher volumes, pricing and cost controls.
Full-year net income rose by two per cent, although 4Q25 results were affected by goodwill and asset impairments. Cemex noted that, excluding these impairments, full-year net income would have increased by 41 per cent to US$1.5bn.
The company also highlighted progress on shareholder returns. Its board has proposed an annual cash dividend around 40 per cent higher than that announced in 2025, subject to shareholder approval, and plans to activate a share buyback programme of up to US$500m over the next three years.
On decarbonisation, Cemex reported a two per cent reduction in consolidated gross CO2 emissions in 2025, largely due to a lower clinker factor. Operations in Europe reached the Cement Europe Association’s 2030 CO2 reduction target five years ahead of schedule, the company said.
Cemex stated that it expects further improvement in 2026, supported by better market demand and continued execution of its transformation strategy.
