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News Cemex increases nine-month 2022 sales and income

Cemex increases nine-month 2022 sales and income

Written by Global Cement staff 27 October 2022
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Mexico: Cemex sold 47.8Mt of cement in the first nine months of 2022, down by 5.3% year-on-year from 40.5Mt in the same period of 2021. Despite this, its consolidated revenues rose by 8%, to US$11.7bn from US$10.8bn. The group's cost of sales grew by 12% to US$8.09bn from US$7.25bn, and its operating earnings before interest, depreciation, taxation, depreciation and amortisation (EBITDA) dropped by 6.6%. Nonetheless, contributions from discontinued operations led to net income growth of 72%, to US$987m from US$574m.

Cemex said that higher prices in local currency terms drove sales growth across all of its regions. As a percentage of sales, costs grew to 70% from 68%, mainly on account of energy price rises. Operating EBITDA fell across all regions apart from Europe, the Middle East, Africa and Asia (EMEAA), where it rose by 2.5% to US$524m from US$511m. Cemex noted Europe's 'remarkable resilience' in implementing 'double-digit' price increases to increase earnings, while also crossing a threshold of 40% in CO2 emissions reduction from its 1990 baseline.

Last modified on 02 November 2022
Published in Global Cement News
Tagged under
  • Cemex
  • Mexico
  • Results
  • costs
  • currency
  • economy
  • Sustainability
  • CO2
  • reduction
  • Emissions
  • Europe
  • Price
  • GCW581

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