Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB · BMV:CEMEX/CPO
Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB — Cemex SAB DE CV — Q4 2020 Earnings Presentation
19 slides from Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB's earnings presentation, Feb 11, 2021
Slide 1: Results 4Q20
RESULTS 4Q20 F e b r u a r y 1 1 , 2 0 2 1
Slide 2: Forward looking information
||Forward looking information This presentation contains forward-looking statements. In some cases, these statements can be identified by the use of forward-looking words such as “may,” “assume,” “might,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,”
Slide 3: Key messages for the full year 2020
||Key messages for the full year 2020 ? Improved EBITDA margin by 2.1pp for the full year, supported by our pricing strategy and our costs-savings program, despite our volumes were heavily impacted by the pandemic ? Costs-savings program achieved US$46 million; 65% of the savings are recurring ? Alt
Slide 4: Financial Results Summary
||Financial Results Summary Net Sales Operating EBITDA Margin EBITDA (US$M) (US$M) (%) -15% LtL -7% LtL -20% -12% 2.1pp -3% LtL -1% LtL 989 -8% 199 -6% . 2% 0.4pp 22 790 175 . 1% 20 237 53 . 7% 22 218 49 . 3% 22 12M19 12M20 4Q19 4Q20 12M19 12M20 4Q19 4Q20 12M19 12M20 4Q19 4Q20 4
Slide 5: Consolidated Volumes and Prices
||Consolidated Volumes and Prices 12M20 vs. 4Q20 vs. 4Q20 vs. 12M19 4Q19 3Q20 Cement volumes during 4Q20 remained stable QoQ and declined Volume -14% -5% 0% Domestic 5% YoY. For the full year, our cement gray Price (USD) -3% -2% 2% volumes declined by 14%, mainly due cement to the impact of COVID-19
Slide 6: EBITDA Variation 12M20
||EBITDA Variation 12M20 -7% -12% 199 -74 4 30 -3 29 185 -10 175 EBITDA Vol. Price Operating Dist SG&A EBITDA FX EBITDA 12M19 Costs 12M20 12M20 LtL1 20.1% 22.2% +2.1pp EBITDA EBITDA Margin 12M19 Margin 12M20 6 (1) Like-to-like adjusted for foreign-exchange fluctuations
Slide 7: Regional Highlights
REGIONAL HIGHLIGHTS 4 Q 2 0 R e s u l t s
Slide 8: Colombia – Results Highlights
||Colombia –Results Highlights Var % Var % Industry cement volumes +2% in 12M20 Var % 4Q20 Var % LtL1 LtL1 4Q20 and -10% in 2020. Our cement Net Sales 404 -20% -10% 120 -6% 1% volumes -17% in 2020, reflecting an Financial Op. EBITDA 87 -5% 6% 30 -6% 1% impact from our price-increase Summary US$ Mill
Slide 9: Panama – Results Highlights
||Panama –Results Highlights Var % Var % Our cement volumes +55% QoQ and 12M20 Var % 4Q20 Var % LtL1 LtL1 -35% YoY. Our performance YoY Net Sales 80 -56% -56% 23 -40% -40% reflects the impact of COVID-19 and a Financial Op. EBITDA 12 -75% -75% 4 -65% -65% new cement producer which came Summary US$ M
Slide 10: Costa Rica – Results Highlights
||Costa Rica –Results Highlights Var % Var % 12M20 Var % 4Q20 Var % LtL1 LtL1 Our cement volumes during 4Q20 Net Sales 89 -13% -13% 22 0% 7% +8% QoQ and -3% YoY. Our cement Financial prices stable YoY. Implemented a Summary Op. EBITDA 30 -1% 0% 8 26% 34% cement price increase of ~6% US$ Million as %
Slide 11: Rest of CLH – Results Highlights
||Rest of CLH –Results Highlights Var % Var % 12M20 Var % 4Q20 Var % LtL1 LtL1 Cement volumes +11%, both during Net Sales 231 7% 9% 58 10% 12% the quarter and the full year; volumes Financial Op. EBITDA 75 24% 26% 16 18% 20% increased in Guatemala, Nicaragua Summary US$ Million and El Salvador as %
Slide 12: Other Information
OTHER INFORMATION 4 Q 2 0 R e s u l t s
Slide 13: Free Cash Flow generation
||Free Cash Flow generation US$ Million 12M20 12M19 % var 4Q20 4Q19 % var Our free cash flow reached US$79 million during 2020, a 45% FCF to Operating . EBITDA EBITDA 175 199 -12% 49 53 -6% EBITDA conversion rate—Net financial expense 50 52 11 12—Maintenance Capex 16 43 7 12 During 2020, we reduced
Slide 14: Income Statement
||Income Statement US$ Million 12M20 12M19 % var 4Q20 4Q19 % var Net loss during the full year mainly Net sales 790 989 -20% 218 237 -8% due to a non-cash impairment of —Cost of sales 471 606 128 144 goodwill and idle assets for US$121 Gross profit 319 383 -17% 90 92 -2% million, booked in 3Q20—Oper
Slide 15: Consolidated debt as of December 31, 2020
||Consolidated debt as of December 31, 2020 US$ Millions 509 US$678 M total debt, US$24 M cash US$654 M net debt 3.7x Net Debt / LTM EBITDA 118 27 Reduced net debt US$82 million 2021 2022 2023 2024 during 2020. Net debt to EBITDA ratio relatively stable from Dec. 2019 to Borrower Lender Currency US$
Slide 16: 2021 Guidance
||2021 Guidance Volume YoY% Consolidated volumes: Cement: 6% to 8% Cement Ready—Mix Ready-mix: 16% to 21% Colombia 9% to 11% 17% to 19% Total CAPEX US$50 M Cement Ready—Mix Panama Maintenance US$45 M 26% to 28% 85% to 89% Strategic US$5 M Cement Ready—Mix Costa Rica 0% to 2% 10% to 12% Cash Taxes US
Slide 17: Forward looking information
||Forward looking information This presentation contains forward-looking statements. In some cases, these statements can be identified by the use of forward-looking words such as “may,” “assume,” “might,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,”
Slide 18: Results 4Q20
RESULTS 4Q20 F e b r u a r y 1 1 , 2 0 2 1
Slide 19: Contact Information
||Contact Information Investor Relations Stock Information Pablo Gutiérrez, CFA Colombian Stock Exchange Phone: +57(1) 603-9051 Ticker: CLH E-mail: pabloantonio.gutierrez@cemex.com Juan Camilo Álvarez Phone: +57(1) 603-9909 E-mail: juancamilo.alvarez@cemex.com