Strong first quarter for CEMEX
CEMEX report double-digit growth in sales and increase in EBITDA for first three months of 2022
CEMEX have announced strong results for the first quarter of 2022, with consolidated net sales and EBITDA growing 13% to US$3,770 million, and 3% to US$691 million, respectively, on a year-over-year basis, despite a challenging cost environment.
The growth was led by a 12% increase in cement prices (like-for-like), 8% in ready-mixed concrete, and 7% in aggregates, with all regions contributing to pricing gains.
In the Europe, Middle East, Africa and Asia region, net sales increased 14% in the first quarter, to US$1,185 million. Operating EBITDA was US$145 million for the quarter, 33% higher.
CEMEX’s operations in the US reported net sales of US$1,196 million in the first quarter, an increase of 18%, whilst operating EBITDA increased 2% to US$200 million.
Net sales in Mexico increased 5% in the quarter, to US$881 million, whilst operating EBITDA decreased 6%, to US$286 million.
CEMEX’s operations in the South America, Central America, and Caribbean region reported net sales of US$416 million in the first quarter, an increase of 9%, whilst operating EBITDA decreased 3% to US$109 million.
‘We are quite pleased with our first-quarter performance despite the unprecedented global macro challenges. Against the backdrop of the worst inflation headwinds in more than 40 years, we achieved strong pricing traction across our products,’ said Fernando A. González, chief executive officer of CEMEX.
‘Given the tight supply/demand dynamics in most of our markets, we are optimistic that we can recover input cost inflation. In addition, our diversified energy, supply chain, and Climate Action strategies are paying off and helping us respond to energy cost pressures.’