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 2017 Earnings Presentation
26 slides from Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB's earnings presentation, Feb 8, 2018
Slide 1: Results 4Q17
RESULTS 4Q17February 8 , 2018
Slide 2: Forward looking information
||Forward looking informationThis presentation contains forward-looking statements. In some cases, these statements can be identified by the use of forward-looking words such as “may,” “should,” “could,” “anticipate,” “estimate,” “expect,” “plan,” “believe,” “predict,” “potential” and “intend” or ot
Slide 3: Financial Results Summary
||Financial Results SummaryNet Sales Operating EBITDA Margin EBITDA (US$M) (US$M) (%) -6%1,3151,243 -5%-27% -7.2pp303 289-15% 2% -2.8pp424 32 .84 . 7% 9% 310 72 . 0% 27 24 .252016 2017 4Q16 4Q17 2016 2017 4Q16 4Q17 2016 2017 4Q16 4Q173
Slide 4: Consolidated Volumes and Prices
||Consolidated Volumes and Prices2017vs. 4Q17 vs. 4Q17 vs. Our consolidated volumes 2016 4Q16 3Q17 for cement and ready-mix Domestic Volume 0% -2% -5% declined by 2% in 4Q17, while our aggregates volumes grew by gray Price (USD) -8% -4% 0%2%, on a year-over-year basis cement Price (LtL1) -8% -4% 1%O
Slide 5: EBITDA Variation 2017
||EBITDA Variation 2017-27%424 -17-9915 -6 -7 1 310EBITDA Vol Price O. Costs Dist SG&A Fx EBITDA 2016 201732.2% 25.0%- 7.2ppEBITDA EBITDA Margin Margin 2016 2017 5
Slide 6: Regional Highlights
REGIONAL HIGHLIGHTS Results 4Q17
Slide 7: Results Highlights Colombia
Results Highlights Colombia
Slide 8: Colombia – Results Highlights
||Colombia –Results Highlights2017 2016 % var 4Q17 4Q16 % var National cement dispatches Net Sales 566 665 -15% 134 153 -13% remain subdued. Financial We estimate that national cement Summary Op. EBITDA 113 214 -47% 30 38 -20% demand decreased by 2.9% and 2.7%, US$ Millionas % net in 4Q17 and 2017,
Slide 9: Colombia – 2018 sector expectations
||Colombia –2018 sector expectations Flat national cement consumption scenario considers:—Unfavorable comparison base in social—13% decrease in investment budget of the interest housing Central Government for transport infrastructure —Political uncertainty and low levels of—Constraints in public spe
Slide 10: Colombia – Potential demand for our products in Bogota
||Colombia –Potential demand for our products in Bogota BOGOTA METRO 01 Most ambitious infrastructure project in the recent history of Colombia. Estimated investment of ~US$4 B, construction expected to start in 2H19 ROAD ENHANCEMENTS AND URBAN RENOVATION 02 Construction and improvement of roads, su
Slide 11: Results Highlights Panama
Results Highlights Panama
Slide 12: Panama – Results Highlights
||Panama –Results Highlights 2017 2016 % var 4Q17 4Q16 % var Despite the decline in volumes of Net Sales 266 256 4% 54 57 -4% our three core products in 4Q17, Financial they increased during the year, Summary Op. EBITDA 108 116 -7% 21 26 -18% US$ Million vs. those of the same periods in 2016 as % ne
Slide 13: Panama – Sector Highlights
|| Panama –Sector Highlights Competitive dynamics in Panama could be more challenging in 2018 National cement demand expected to remain subdued in 1H18, while construction of new infrastructure projects begins Public works should be supported in the mid-term by Government accounts. Strong pipeline o
Slide 14: Results Highlights Costa Rica
Results Highlights Costa Rica
Slide 15: Costa Rica – Results Highlights
||Costa Rica –Results Highlights 2017 2016 % var 4Q17 4Q16 % var Third consecutive quarter with Net Sales 149 151 -2% 35 32 10% growth in daily cement sales, Financial on a year-over-year basis Summary Op. EBITDA 53 61 -12% 13 12 9% US$ Million as % net sales 35.7% 40.1% (4.4pp) 37.2% 37.8% (0.6pp)
Slide 16: Costa Rica – Sector Highlights
|| Costa Rica– Sector Highlights Demand for our products in upcoming quarters should be driven by the execution of :—Oxígeno project—Hotels and warehouses—Works in public universities—Residential developments Despite the delays in execution in 2017, we expect demand from public works to decline in 2
Slide 17: Results Highlights Rest of CLH
Results Highlights Rest of CLH
Slide 18: Rest of CLH – Results Highlights
||Rest of CLH –Results Highlights 2017 2016 % var 4Q17 4Q16 % var New historic record in net sales Net Sales 286 263 8% 70 66 6% and EBITDA in 2017 Financial Summary Op. EBITDA 85 84 0% 19 20 -2% Our cement volumes grew for US$ Million as % net sales 29.7% 32.0% (2.3pp) 27.4% 29.7% (2.3pp) 10th cons
Slide 19: Rest of CLH – Nicaragua highlights
||Rest of CLH –Nicaragua highlights Our cement volumes increased for fifth consecutive year in 2017 Our ready-mix and aggregates volumes more than doubled during 2017, on a year-over-year basis The growth rate of national cement consumption could slow down this year, since construction works for new
Slide 20: Rest of CLH – Guatemala highlights
||Rest of CLH –Guatemala highlights In 2017 we were able to maintain our EBITDA level despite lower volumes of our three core products, on a year-over-year basis Residential, and industrial and commercial works continue to drive cement demand, whereas consumption from public works remains dull We st
Slide 21: Free Cash Flow
FREE CASH FLOW 4 Q 1 7 R e s u l t s
Slide 22: Free Cash Flow
||Free Cash Flow US$ Million 2017 2016 % var 4Q17 4Q16 % var Free cash flow after strategic Operating Op. EBITDA EBITDA 310 424 -27% 72 84 -15% Capex decreased to US$45 M in 2017—Net Financial Expense 63 64 17 15—Maintenance Capex 51 56 15 24—Change in Working Cap 17 -38 23 -21 The negative effect f
Slide 23: Guidance
GUIDANCE 4 Q 1 7 R e s u l t s
Slide 24: 2018 Guidance
||2018 Guidance Volume YoY% Consolidated volumes in 2018 Cement Ready—Mix Aggregates expected to: Colombia 0% 1% 0%—Remain flat in cement—Grow by 2% in ready-mix and aggregates Cement Ready—Mix Aggregates Panama Maintenance and Strategic 1% 7% 8% Capex in 2018 are expected to be about US$50 M and US
Slide 25: Consolidated debt maturity profile
||Consolidated debt maturity profile US $927 Million 585 Total debt as of December 31, 2017 2.8x Net Debt/EBITDA US$ Million as of December 31, 2017 342 2018 2023 25
Slide 26: Results 4Q17
RESULTS 4Q17 F e b r u a r y 8 , 2 0 1 8