CEMEX announced continued solid top line growth in the 3Q22. Net sales grew by 13 per cent to US$3,956m while net income of reached US$494m. Pricing was the main driver with cement, ready-mix and aggregates, increasing by double digits.
“Our pricing achievements this year have allowed us to more than offset inflationary costs in dollar terms, but stubbornly high inflation and supply chain headwinds have delayed our ability to regain margins. We are fully committed to margin recovery and will continue our efforts in fourth quarter, as well as into 2023,” said Fernando A González, CEO of CEMEX.
EBITDA and EBITDA margin continued to be impacted by persistent inflationary headwinds that outpaced the company’s pricing efforts. Operating EBITDA decreased by six per cent to US$649m, while operating EBITDA margin declined by 3.2 per cent YoY. Free cash flow after maintenance capital expenditures was US$182m.
Net sales in Mexico increased by one per cent to US$948m. Operating EBITDA in Mexico decreased 12 per cent to US$255m. CEMEX’s operations in the United States reported net sales of US$1324m, an increase of 19 per cent. Operating EBITDA increased 10per cent in the USA to US$197m. In the Europe, Middle East, Africa and Asia region, net sales increased 16 per cent to US$1252m. Operating EBITDA was US$186m, eight per cent higher. CEMEX’s operations in the South, Central America, and the Caribbean region reported net sales of US$393m, an increase of two per cent. Operating EBITDA in the region declined 11 per cent to US$90m.
