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
22 slides from Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB's earnings presentation, Feb 16, 2021
Slide 1: 4Q 2020 Results
Exhibit 3 1Q19 RESULTS 4Q 2020 Results February 15, 2021Exhibit 3 1Q19 RESULTS 4Q 2020 Results February 15, 2021
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: Fourth Quarter and Full Year 2020 Updates
Fourth Quarter and Full Year 2020 Updates ✓ Several typhoons adversely affected the Philippines in 4Q20, impacting economic activity. ✓ Successfully executed major kiln maintenance works in Solid Cement Plant in November 2020, after 21 months of operating without a major kiln shutdown. ✓ Solid Cemen
Slide 4: 2021 Outlook
2021 Outlook ✓ The Philippine government has shifted their approach in responding to the COVID-19 pandemic, opting to focus on risk management, strict implementation of health and safety protocols, and more testing, while utilizing lockdowns on a localized basis. ✓ Approved national budget for infra
Slide 5: Domestic Cement Volumes and Prices
Domestic Cement Volumes and Prices 4Q20 vs. 4Q20 vs. 2020 vs. 2019 4Q19 3Q20 Volume (11%) (9%) (13%) Domestic Cement Price (PHP) (6%) (7%) (5%) Domestic cement volumes decreased by 9% year-over-year during the fourth quarter due to adverse weather conditions, amidst the ongoing pandemic. Sequentiall
Slide 6: Net Sales
Net Sales 1 Net Sales As a result of lower volumes and prices, net sales decreased, year-over-year, by 15% during the fourth quarter and by 16% -16% for 2020. -15% 4Q19 4Q20 2019 2020 6 1 Millions of Philippine Pesos 5,372 4,564 23,596 19,707Net Sales 1 Net Sales As a result of lower volumes and pri
Slide 7: Private Sector Employment in Construction
Private Sector Employment in Construction Activity in the residential sector declined during 4Q20 (K Persons) due to the impact of COVID-19 on spending behavior of households. Remittances have been resilient, but With a job, Full-time Part-time OFW households apportioned lower proceeds for real not
Slide 8: Public Sector Disbursements on Infrastructure and Capital Outlays
Public Sector Disbursements on Infrastructure and Capital Outlays Infrastructure disbursements in October (in PHP billion) and November fell by 40% year-over-year -22.0% to PHP 97.4 billion. The lower performance 2019 2020 during the period is attributed to multiple 704 delays encountered in earlier
Slide 9: Cost of Sales
Cost of Sales Cost of sales, as a percentage of sales, was flat at 59% for 2020. Cost of Sales Fuel and Power Extraordinary benefit in 2020 shutdown (% of net sales) (% of cost of sales) costs due to reduced scope and postponement of APO Cement Plant Fuel major kiln shutdown. 2021 major kiln shutdow
Slide 10: Operating Expenses
Operating Expenses Distribution expenses, as a percentage Distribution Selling and Administrative of sales, was flat at 18% for 2020. (% of net sales) (% of net sales) Total distribution expenses decreased by 17% year-over-year for 2020, driven by initiatives to increase operational and cost efficie
Slide 11: Operating EBITDA and Operating EBITDA Margin
Operating EBITDA and Operating EBITDA Margin 1 Operating EBITDA Variation 20% Operating EBITDA for 2020 decreased 15% by 1% year-over-year. Operating EBITDA margin was at 21% for 2020, as lower volumes and prices were offset by lower costs and our efforts to contain expenses, including maintenance c
Slide 12: Net Income
Net Income Net income was at PHP 985 million for 2020, lower by 23% year- 1 Net Income over-year due to the impact of the COVID-19 pandemic on operating earnings. Income tax for the full year was higher primarily due to the utilization of deferred tax assets (NOLCO credits) during the second half wh
Slide 13: Free Cash Flow & Guidance
FREE CASH FLOW 4Q 2020 1Q19 FREE CASH FLOW & GUIDANCEFREE CASH FLOW 4Q 2020 1Q19 FREE CASH FLOW & GUIDANCE
Slide 14: Free Cash Flow
Free Cash Flow January - December Fourth Quarter Free cash flow after maintenance 2020 2019 % var 2020 2019 % var CAPEX for 2020 was around PHP 2.8 Operating EBITDA 4,172 4,227 (1%) 891 781 14% billion. - Net Financial Expenses 626 1,305 (81) 237 Strategic CAPEX for 2020 was at PHP - Maintenance Cap
Slide 15: Solid Cement Plant Capacity Expansion
Solid Cement Plant Capacity Expansion Works remained ongoing, with strict health and safety protocols, in line with government regulations. Our contractors continue to work on the different buildings and structures of the new line. Installation of various equipment, including the kiln, began last mo
Slide 16: 2021 Guidance
2021 Guidance Cement Volumes 4-6% PHP 5,680 million Solid Cement Plant Expansion CAPEX Capital expenditures PHP 1,350 million Maintenance and Other CAPEX PHP 7,030 million Total CAPEX 162021 Guidance Cement Volumes 4-6% PHP 5,680 million Solid Cement Plant Expansion CAPEX Capital expenditures PHP 1,
Slide 17: Q&A Session
Q&A SESSION 4Q 2020Q&A SESSION 4Q 2020
Slide 18: Appendix
APPENDIX 4Q 2020 1Q19 APPENDIXAPPENDIX 4Q 2020 1Q19 APPENDIX
Slide 19: Debt Maturity Profile
Debt Maturity Profile Leases 5,344 BDO Debt 38 Total Debt: PHP 12,853 1 Avg. life of debt : 4.9 years 2 4,138 Net Debt to EBITDA : 1.6x 124 5,306 4,014 1,365 1,174 38 768 1,327 628 42 22 140 2021 2022 2023 2024 2025 2026≥ 2027 All amounts in millions of Philippine Pesos 1 Based on weighted average l
Slide 20: Additional Debt Information
Additional Debt Information Fourth Quarter Third Quarter 2020 2019 % var 2020 (1)(2) 12,853 20,063 (36%) 13,510 Total debt Short term 6% 9% 6% Long term 94% 91% 94% Cash and cash equivalents 6,139 1,399 339% 6,667 Net debt 6,714 18,664 (64%) 6,843 (3) 3.08 3.47 3.33 Leverage Ratio (3) 5.95 3.73 5.21
Slide 21: Definitions
Definitions 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 other expenses, net, plus depreciation and operating amortization. Free Cash Flow Operati
Slide 22: Contact Information
Contact Information Investor Relations Stock Information In the Philippines PSE: +632 8849 3600 CHP chp.ir@cemex.com 22Contact Information Investor Relations Stock Information In the Philippines PSE: +632 8849 3600 CHP chp.ir@cemex.com 22