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 2021 Earnings Presentation
29 slides from Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB's earnings presentation, Apr 29, 2021
Slide 1: First Quarter 2021 Results
First Quarter 2021 Results Exhibit 3
Slide 2: Forward-looking statements
This presentation contains, and the reports we will file in the future may contain, forward-looking statements within the meaning of the U.S. federal securities laws. We intend for these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements within the
Slide 3: Key achievements in 1st Quarter 2021
Net sales increased 9% l-t-l YoY with higher contribution in all regions 28% YoY increase in EBITDA, reaching US$684 M Strong pricing performance with prices up mid-single digit sequentially in local currency terms EBITDA margin at 20.1%, up 2.8pp YoY, to the highest first quarter margin since 2007
Slide 4: Key markets in expansion, after COVID recovery
Key markets in expansion, after COVID recovery MEAA US EUR MEX SCAC CEMEX Cement volumes YoY % change1 1) On an average daily sales Region Cement volumes1 1Q21 vs. 1Q19 US +20% MEX +16% SAC +5% MEAA +6% EUR (8%) CEMEX 9%
Slide 5: Unique footprint with superior supply chain capabilities in production constrained markets
Unique footprint with superior supply chain capabilities in production constrained markets Unique supply chain capabilities throughout our America´s footprint High flexibility to serve production constrained markets CPN plant expected to be ready by 2Q21 to serve incremental demand in western US Cap
Slide 6: EBITDA expansion driven by higher volumes and prices, lower opex and freight
EBITDA expansion driven by higher volumes and prices, lower opex and freight, and higher contribution from urbanization solutions EBITDA variation Millions of U.S. dollars
Slide 7: Advancing materially against our Operation Resilience goals
Advancing materially against our “Operation Resilience” goals 20.1% margin, an increase of 2.8pp YoY ~US$50 M of incremental savings in 2021 ~US$600 M bolt-on investment pipeline expected to contribute US$100 M of incremental EBITDA in 2021 Urbanization Solutions EBITDA grew 41% in 1Q21 Increased to
Slide 8: Fully committed to our global Climate Agenda
Fully committed to our global Climate Agenda Climate and Energy Circular Economy Kg of CO2 per ton of cementitious Alternative fuels as a % of total fuels Blended cement as a % of total cement sold Waste consumption Target 2030 520 kg or 35% reduction vs. 1990 43% 75% 25 million metric tons Performa
Slide 9: Regional Highlights
Regional Highlights I.E. Leticia Arango, Colombia
Slide 10: United States: Achieved 21% increase in EBITDA
United States: Achieved 21% increase in EBITDA, driven by volumes, operational leverage and cost savings Millions of U.S. dollars Growth momentum continued in 1Q21, with all key states, except for Texas, increasing cement volumes at double-digit Unique footprint with superior supply chain capabiliti
Slide 11: Mexico: Strong demand growth brings industry volumes back to 2018 levels
Mexico: Strong demand growth brings industry volumes back to 2018 levels Continued bagged cement momentum supported by government social programs, home improvement activity, higher remittances and pre-electoral spending Gradual recovery in the formal sector with pickup in formal residential and acce
Slide 12: EMEAA: EBITDA growth partially offset by weather impact in Europe
EMEAA: EBITDA growth partially offset by weather impact in Europe Millions of U.S. dollars EMEAA: Europe, Middle East, Africa and Asia region Price (l-t-l) calculated on a volume-weighted average basis at constant foreign-exchange Unfavorable weather throughout Europe, but particularly in Germany, P
Slide 13: SCAC: Highest quarterly cement volumes since 2Q18
Highest quarterly cement volumes since 2Q18, with growth in all countries, except Panama Cement prices up 5% sequentially mainly due to increases in Dominican Republic and Costa Rica, among others, as well as to geographic-mix In Colombia, activity supported by self-construction and 4G highways proj
Slide 14: 1Q21 Results
1Q21 Results Casa Erasto – Mexico City, Mexico
Slide 15: Highest 1st quarter free cash flow since 2016, with record working capital days
Highest 1st quarter free cash flow since 2016, with record working capital days Average working capital days Controlling Interest Net Income US$ M Millions of U.S. dollars Highest quarterly net income since 3rd quarter of 2007
Slide 16: Average life of debt: 6.2 years
Average life of debt: 6.2 years Proforma1 total debt excluding perpetual notes as of March 31, 2021: US$10,085 million 1,337 1,462 345 554 1060 Fixed Income Other bank debt 2017 Facilities Agreement Leases Millions of U.S. dollars 1) Giving proforma effect to the redemption in April of US$321 M Note
Slide 17: Material net debt and leverage reduction
Material net debt and leverage reduction Net Debt plus perpetuals variation Millions of U.S. dollars 1) Includes proceeds from the sale of CO2 allowances and sale of assets in France 2) Other relates to US$87 M of financial fees/bond premiums, US$39 M from a decrease in funding from securitizations
Slide 18: 2021 Outlook
Casa Vargas – Querétaro, Mexico 2021 Outlook
Slide 19: 2021 guidance
2021 guidance1 1) Reflects CEMEX’s current expectations 2) Like-to-like for ongoing operations and assuming FX levels as of March 31st, 2021, for the remaining of the year 3) Including perpetual bonds Operating EBITDA > US$2.9 billion2 Consolidated volume growth 3% to 5% Cement 2% to 4% Ready mix 1%
Slide 20: What to expect
Sustainable growth, tight supply/demand dynamics and operating leverage in key markets Capture growth through unique supply chain capabilities Pricing traction supported by tight supply, CO2 costs, and rising energy and shipping costs With economic reopening, resumption of COVID delayed formal const
Slide 21: Appendix
Appendix Dubai International Airport, Terminal D, United Arab Emirates
Slide 22: Average life of debt: 6.0 years
Average life of debt: 6.0 years Debt maturity profile as of 1Q21 Total debt excluding perpetual notes as of March 31, 2021: US$10,413 million > Fixed Income1 Other bank debt 2017 Facilities Agreement Leases Millions of U.S. dollars 1) During March 2021, CEMEX sent a redemption notice for the 5.7% No
Slide 23: Consolidated volumes and prices
Consolidated volumes and prices Price (l-t-l) calculated on a volume-weighted average basis at constant foreign-exchange rates
Slide 24: Additional information on debt and perpetual notes
Additional information on debt and perpetual notes Currency denomination Interest rate3 Millions of U.S. dollars 1) Includes leases, in accordance with International Financial Reporting Standard (IFRS) 2) Calculated in accordance with our contractual obligations under the 2017 Facilities Agreement,
Slide 25: Additional information on debt
Additional information on debt Total debt1 by instrument Millions of U.S. dollars 1) Includes leases, in accordance with IFRS
Slide 26: 1Q21 volume and price summary: selected countries/region
1Q21 volume and price summary: selected countries/region Price (LC) for Europe calculated on a volume-weighted-average basis at constant foreign-exchange rates
Slide 27: 2021 expected volume outlook: selected countries
2021 expected volume outlook1: selected countries 1) Reflects CEMEX’s current expectations. Volumes on a like-to-like basis CEMENT Ready Mix Aggregates CEMEX +3% to +5% +2% to +4% +1% to +3% Mexico +7% to +9% +8% to +12% +8% to +12% USA +3% to +5% +1% to +3% +1% to +3% Europe (1%) to +1% +1% to +3%
Slide 28: Definitions
Definitions SCAC South, Central America and the Caribbean EMEAA Europe, Middle East, Africa and Asia Cement When providing cement volume variations, refers to domestic gray cement operations (starting in 2Q10, the base for reported cement volumes changed from total domestic cement including clinker
Slide 29: Contact Information
Contact Information Investors Relations In the United States +1 877 7CX NYSE In Mexico +52 81 8888 4292 ir@cemex.com Mecmex Stock Information NYSE (ADS): CX Mexican Stock Exchange: CEMEXCPO Ratio of CEMEXCPO to Cx: 10 to 1