Cemex reports double-digit EBITDA growth in FY21

Cemex announced strong results for the FY21 with double-digit EBITDA growth, the highest in more than a decade, coupled with a similar increase in sales, driven by higher volumes and robust pricing in all core products in all regions. EBITDA margin increased 0.8 percentage points in the year, despite headwinds in energy and import costs. CO₂ emissions declined 4.4 percentage points, the largest annual decline the company has ever achieved. 

Net sales increased 14 per cent to US$14,548m in 2021 and by three per cent to US$3618m in FY4Q21. Operating EBITDA increased 18 per cent to US$2861m in 2021 and by three per cent to US$651m in the FY4Q21.  

Cemex advanced significantly on its investment grade goal, reducing its leverage ratio by 1.4x, to 2.73x in 2021. Consolidated net debt fell by US$2265bn (calculated in line with the 2021 Credit Agreement), achieving the longest average life of debt in more than a decade, at 6.2 years.  

Geographical markets FY21 Full Year and 3FY4Q21 
Net sales in Mexico advanced 23 per cent in 2021, to US$3466m, and by one per cent in the fourth quarter, to US$841m. Operating EBITDA increased 25 per cent in 2021 to US$1163m, and decreased nine per cent in the fourth quarter to US$243m. 

Cemex’s operations in the United States reported net sales of US$4355m 2021, an increase of nine per cent, and US$1,094m in the fourth quarter, up of eight per cent. Operating EBITDA advanced two per cent to US$762m in 2021 and decreased seven per cent to US$174m in the fourth quarter.

In the Europe, Middle East, Africa and Asia region, net sales increased by 10 per cent in 2021, to US$4825m, and one per cent in the fourth quarter, to US$1197m. Operating EBITDA was US$676m in 2021, eight per cent higher, and US$165m for the fourth quarter, four per cent up.

Cemex’s operations in the South, Central America and the Caribbean region, reported net sales of US$1567m in 2021, an increase of 16 per cent, and US$391m in fourth quarter, up two per cent. Operating EBITDA advanced by 24 per cent to US$421m in 2021 and edged up by three per cent to US$99m in the fourth quarter.