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 — Q2 2021 Earnings Presentation
33 slides from Cemex SAB de CV Cert Part Ord Repr 2 ShsA & 1 ShsB's earnings presentation, Jul 29, 2021
Slide 1: Second Quarter 2021 Results
Second Quarter 2021 Results MERSEY GATEWAY, UNITED KINGDOM 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 2nd Quarter 2021
Net sales increased 25% l-t-l YoY, with higher contributions in all regions 39% YoY increase in EBITDA, reaching $818 M, highest amount for a 2Q since 2007 Second quarter cement volumes grew 22% YoY, with levels 10% higher vs 2Q19 Cement prices up 4% YoY and 2% QoQ in local currency terms, with all
Slide 4: Growth accelerates in 2nd quarter
Growth accelerates in 2nd quarter MEAA US EUR MEX SCAC CEMEX Cement volumes YoY % change1 1) On an average daily sales Region Cement volumes1 2Q21 vs. 2Q19 US +14% MEX +19% SCAC +1% MEAA (2%) EUR 10% CEMEX 10%
Slide 5: Unique footprint with superior supply chain capabilities
Unique footprint with superior supply chain capabilities in production constrained markets Most markets in the Americas operating at very high capacity utilization Shipping rates have escalated significantly Our unique supply chain in the Americas is a competitive advantage under this environment Hi
Slide 6: Growth strategy pays off with expected ~$400 M in EBITDA in 2023
Growth strategy pays off with expected ~$400 M in EBITDA in 2023 Cement projects for ~10 M Tons1 Cement Aggregates Ready Mix Urbanization Solutions ~$500 M investment pipeline ~$425 M in 2021-2023 CAPEX Bolt-on & Margin enhancement projects Vs. 1990 baseline 10 M MT in incremental cement capacity ar
Slide 7: EBITDA expansion driven by higher volumes
EBITDA expansion driven by higher volumes EBITDA variation Millions of U.S. dollars
Slide 8: Reset Operation Resilience pillars to more ambitious targets
Reset Operation Resilience pillars to more ambitious targets Operation Resilience pillars Targets 2Q Progress EBITDA growth through margin enhancement ≥20% margin 21.2% in 2Q21 20.7% in 1H21 Achieve investment grade capital structure Investment grade rating 2.85x leverage as of 2Q21 Optimize our por
Slide 9: Announced industry leading climate action goals
Announced industry leading climate action goals New Target 2025 New Target 2030 Performance 2020 Performance 1H21 Climate and Energy Kg of CO2 per ton of cementitious1 520 kg, or 35% reduction <475 kg, or >40% reduction 620 kg, or 22.6% reduction 604 kg, or 24.5% reduction Alternative fuels as a % o
Slide 10: Applying digital innovation in all that we do
Applying digital innovation in all that we do Commercial: CX Go, the first digital global platform in industry End-to-end integrated platform covering the full customer journey +60% of global sales processed through CEMEX Go Latest innovations: Completely paperless experience, RMX Go App, direct rea
Slide 11: MACddaate ty
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Slide 12: United States: Expansion continues but partially offset by rising cost pressures
United States: Expansion continues but partially offset by rising cost pressures Millions of U.S. dollars Strong volume performance across all products, despite heavy rains in Texas Residential sector driving demand Sequential prices for cement rising 3%, reflecting successful April pricing increase
Slide 13: Mexico: ~60% increase in 2Q21 EBITDA driven by volume recovery
Mexico: ~60% increase in 2Q21 EBITDA driven by volume recovery Bagged cement growing double-digit, supported by government social programs, home improvement activity, higher remittances and pre-electoral spending Bulk cement and ready mix year-over-year volume growth reflects continued formal sector
Slide 14: EMEA: Double-digit EBITDA growth driven by better volumes and prices
EMEA: Double-digit EBITDA growth driven by better volumes and prices Millions of U.S. dollars EMEA: Europe, Middle East, Africa and Asia region Price (l-t-l) calculated on a volume-weighted average basis at constant foreign-exchange Strong volume growth in Europe and the Philippines, two geographies
Slide 15: SCAC: Strong operating performance despite regional disruptions
SCAC: Strong operating performance despite regional disruptions Millions of U.S. dollars SCAC: South, Central America and the Caribbean region Price (l-t-l) calculated on a volume-weighted average basis at constant foreign-exchange rates 1Q21 Results Strong volume performance supported by easy compa
Slide 16: 2Q21 Results
2Q21 Results Casa Erasto – Mexico City, Mexico EC RESIDENCE, COSTA RICA
Slide 17: Highest FCF after maintenance capex in a second quarter since 2016
Highest FCF after maintenance capex in a second quarter since 2016 Average working capital days Controlling Interest Net Income US$ M Millions of U.S. dollars January - June Second Quarter Validación 2021 2020 % var 2021 2020 % var Flujo de operación TRUE TRUE TRUE TRUE TRUE TRUE Operating EBITDA 15
Slide 18: Average life of debt: 6.3 years
Average life of debt: 6.3 years1 Proforma1 total debt as of June 30, 2021: $9,123 million Fixed Income Other bank debt 2017 Facilities Agreement Leases Millions of U.S. dollars 1) Giving proforma effect to the redemption in July of $542 M Notes due 2024 with a 2.75% coupon The best runway to next ma
Slide 19: Accelerating our path towards investment-grade rating
Accelerating our path towards investment-grade rating Net Debt variation Millions of U.S. dollars 1) Includes the net effect of the issuance of $1.0 B subordinated notes which are considered equity under IFRS and therefore not included in net debt, and the repayment of $447 M of perpetual debentures
Slide 20: 2021 Outlook
2021 Outlook
Slide 21: 2021 guidance
2021 guidance1 1) Reflects CEMEX’s current expectations 2) Like-to-like for ongoing operations and assuming FX levels as of June 30th, 2021, for the remaining of the year 3) Including perpetual bonds and subordinated notes Operating EBITDA ~$3.1 billion2 Consolidated volume growth 5% to 7% Cement 3%
Slide 22: Volume growth in most regions, but at moderated pace
As we move beyond favorable base effects, volume growth in most regions, but at moderated pace Isolated flareups of COVID, but with minimal disruptions to our business With most of our regions at a favorable point in the cycle and positive GDP outlook, a sustainable growth trajectory Unprecedented a
Slide 23: Second Quarter 2021 Results - Q&A session
Second Quarter 2021 Results MERSEY GATEWAY, UNITED KINGDOM Q&A session
Slide 24: Appendix
OYAMEL RESIDENCE, MEXICO Appendix
Slide 25: Average life of debt: 5.9 years
Average life of debt: 5.9 years Debt maturity profile as of 2Q21 Total debt as of June 30, 2021: $9,665 million > Fixed Income1 Other bank debt 2017 Facilities Agreement Leases Millions of U.S. dollars 1) During June 2021, CEMEX sent a redemption notice for the 2.75% Notes due 2024 to partially rede
Slide 26: Consolidated volumes and prices
Consolidated volumes and prices Price (l-t-l) calculated on a volume-weighted average basis at constant foreign-exchange rates 6M21 vs. 6M20 2T21 vs. 2T20 2T21 vs. 1T21 Cemento gris doméstico Volumen (comp) 0.13568596172369274 0.21563873756315299 0.10765453530148927 Precio (USD) 7.2745084942273927E-
Slide 27: Additional information on debt
Additional information on debt 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, as amended and resta
Slide 28: Additional information on debt by instrument
Additional information on debt Total debt1 by instrument Millions of U.S. dollars 1) Includes leases, in accordance with IFRS Second Quarter First Quarter 2021 % of total 2021 % of total Fixed Income 6127.6428999999998 0.63400011103925769 6431.3998168658836 0.61763428227638828 2017 Facilities Agreem
Slide 29: 2Q21 volume and price summary: selected countries/regions
2Q21 volume and price summary: selected countries/regions Price (LC) for Europe calculated on a volume-weighted-average basis at constant foreign-exchange rates Domestic gray cement Ready mix Aggregates 2Q21 vs. 2Q20 2Q21 vs. 2Q20 2Q21 vs. 2Q20 Volume Price (USD) Price (LC) Volume Price (USD) Price
Slide 30: 6M21 volume and price summary: selected countries/regions
6M21 volume and price summary: selected countries/regions Price (LC) for Europe calculated on a volume-weighted-average basis at constant foreign-exchange rates Domestic gray cement Ready mix Aggregates 6M21 vs. 6M20 6M21 vs. 6M20 6M21 vs. 6M20 Volume Price (USD) Price (LC) Volume Price (USD) Price
Slide 31: 2021 expected volume outlook: selected countries/regions
2021 expected volume outlook1: selected countries/regions 1) Reflects CEMEX’s current expectations. Volumes on a like-to-like basis CEMENT Ready Mix Aggregates CEMEX +5% to +7% +3% to +5% +2% to +4% Mexico +10% to +12% +8% to +12% +8% to +12% USA +4% to +6% +4% to +6% +1% to +3% Europe +2% to +4% +3
Slide 32: Definitions
Definitions SCAC South, Central America and the Caribbean EMEA 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 t
Slide 33: Contact Information
Contact Information Investors Relations In the United States +1 877 7CX NYSE In Mexico +52 81 8888 4292 ir@cemex.com Macmcx puking beter ro Stock Information NYSE (ADS): CX Mexican Stock Exchange: CEMEXCPO Ratio of CEMEXCPO to Cx: 10 to 1