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 — Q1 2018 Earnings Presentation
20 slides from Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB's earnings presentation, Apr 27, 2018
Slide 1: 1Q 2018 Results
1Q 2018 RESULTS April 27, 2018 01
Slide 2: Forward-looking statements
This 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 other similar words. These forw
Slide 3: First Quarter 2018 Achievements
First Quarter 2018 Achievements All-time highest quarterly sales volume All-time highest monthly sales volume in March Record cement production for Solid Plant and APO Plant in March Record bagging output for Solid Plant in March Record dispatch for Solid Plant in March Initial progress from debottl
Slide 4: Domestic Cement Volumes and Prices
Domestic Cement Volumes and Prices 3M18 vs. 1Q18 vs. 1Q18 vs. 3M17 1Q17 4Q17 Volume 16% 16% 11% Domestic Price (USD) (8%) (8%) 0% Cement Price (PHP) (5%) (5%) 2% Net Sales1 +10% 5,362 5,891 Domestic cement volumes increased 16% year-over-year during the first quarter. 5,362 Supported by 19% increase
Slide 5: Residential Sector
Residential Sector The residential sector appears to have picked up in the first quarter of 2018. The sector’s growth will be supported by remittances from overseas Filipino workers, demand from the growing middle class and foreign markets, and the government’s emphasis on low-income/socialized hous
Slide 6: Industrial-and-Commercial Sector
Industrial-and-Commercial Sector Industrial and commercial activity grew in the first quarter compared to the same period last year. Take-up from the business process outsourcing sector recovered in the first quarter, and supplemented demand from the offshore gaming and traditional companies.1 In 20
Slide 7: Infrastructure Sector
Infrastructure Sector 2017 National Government Disbursement on Infrastructure and Capital Outlay Year-on-Year Growth1 33.7% 26.0% 15.4% 12.2% 5.9% 1Q17 2Q17 3Q17 4Q171Q18 1 Source: Department of Budget and Management; (DBM) Infrastructure construction surged in the first quarter as the government ac
Slide 8: Cost of Sales
Cost of Sales Millions of Percentage Philippine Pesos of Net Sales -6pp -24% 52% 58% 2,790 3,445 1Q17 1Q18 1Q17 1Q18 Cost of sales, as a percentage to sales, increased 6 pp year-over-year during the first quarter. Fuel costs accounted for 26% of cost of sales vs. 19% same period last year. Increase
Slide 9: Operating Expenses
Operating Expenses Distribution1 Selling and Administrative1 -9% +1% 1,142 1,049 756 747 1Q17 1Q18 1Q17 1Q18 % of 20% 19% 14% 13% Net Sales 1 Millions of Philippine Pesos Distribution expenses increased by 9% year-over-year. On a unitary basis, distribution expenses decreased by 6% year-over-year an
Slide 10: Operating EBITDA and Operating EBITDA Margin
Operating EBITDA and Operating EBITDA Margin Operating EBITDA1 -17% 1,071 753 803886 628 1Q17 2Q17 3Q174Q171Q18 % of Net Sales 20% 13%14%12%15% 1 Millions of Philippine Pesos First quarter Operating EBITDA and Operating EBITDA margin highest in the last four quarters (or since the second quarter of
Slide 11: Net Income
Net Income Net Income1 Like-to-like Net Income2 -71% -20% 438 348 178230 350 350 137202-29100 100 -120 1Q17 1Q18 1Q172Q173Q174Q171Q18 Net income during the first quarter decreased by 71% mainly due to lower operating earnings before other expenses and higher unrealized foreign exchange losses. These
Slide 12: 1Q 2018 Free Cash Flow & Guidance
1Q 2018 FREE CASH FLOW & GUIDANCE 012
Slide 13: Free Cash Flow
Free Cash Flow January—March First Quarter 2018 2017 20182017 % var % var Operating EBITDA 886 1,071(17%)8861,071(17%) - Net Financial Expenses 208 258208258 - Maintenance Capex 80 498049 - Change in Working Capital (223) 920(223)920 - Taxes Paid 104 102104102 - Other Cash Items (net) (2) (19)(2)(19
Slide 14: Solid Plant Capacity Expansion
Solid Plant Capacity Expansion Expected total investment: US$ 225 million New line expected to start operations in the first quarter of 2020. 014
Slide 15: 2018 Guidance
2018 Guidance Cement volumes 8-12% PHP 700 million Maintenance CAPEX PHP 3,000 million Solid Plant Expansion CAPEX Capital expenditures PHP 40 million Other Strategic CAPEX PHP 3,740 million Total CAPEX Working capital Reduction of approximately PHP 1,500 -2,000 million 015
Slide 16: Q&A Session 1Q 2018 Results
Q&A SESSION 1Q 2018 RESULTS 016
Slide 17: 1Q 2018 Appendix
1Q 2018 APPENDIX 017
Slide 18: Debt Information
Debt Information Maturity Profile1 Related Party Loans2 BDO Debt Total Debt: PHP 15,327 Avg. life of debt: 4.5 years Net Debt to EBITDA3: 4.4x 1,664 1,214 486 381 1,074140140 105 140 2018 201920202021202220232024 6,656 5,027 1 Millions of Philippine Pesos 2 Pertains to loans with CEMEX Asia B.V. 3 L
Slide 19: Definitions
Definitions 3M18 / 3M17 Results for the first three months of the years 2018 and 2017, respectively PHP Philippine Pesos Pp Percentage points Prices All references to pricing initiatives, price increases or decreases, refer to our prices for our products. Operating EBITDA Operating earnings before o
Slide 20: Contact Information
Contact Information Investor Relations Stock Information In the Philippines PSE: +632 849 3600 CHP chp.ir@cemex.com 020