CEMEX has released its Integrated Report, entitled 'Setting the Pace', which outlines the company’s strategic vision, operational performance, and value creation in 2023. Last year saw CEMEX achieve record growth in EBITDA and make significant progress in its decarbonisation efforts, reducing Scope 1 and 2 CO₂ emissions by 13 and 12 per cent, respectively, since 2020. This comes as the company launches its ‘Regenera’ waste management business globally, as part of its Urbanisation Solutions’ portfolio expansion.

Fernando A González, CEO of CEMEX, announced, “Our performance is a testament to the focus and commitment of our employees worldwide. Their relentless innovation, unwavering dedication, and steadfast perseverance are creating a more resilient future for generations to come as well as a profitable future for CEMEX.”

Future in Action

CEMEX has become the first company in the cement industry to produce validated environmental impact reporting for 100 per cent of its cement products. Vertua, CEMEX’s range of low-carbon construction solutions, now accounts for 56 per cent of total cement sales, with an average CO₂ reduction of 45 per cent. The Vertua brand is now worth US$7.2bn globally. 

CEMEX’s use of alternative fuels now stands at 37 per cent, the highest level in the company’s history. Furthermore, the report states that in 2023 the company reduced its clinker factor to 72 per cent and repurposed almost 28Mt of waste and byproducts through Regenera, the business’s circular production arm. CEMEX also outlined plans to optimise water usage at 30 per cent of its sites located in water-stressed areas.

Financial

In 2023 the company’s full-year EBITDA rose 25 per cent, from US$2.7bn in 2022 to a record US$3.4bn. Consolidated net sales increased 12 per cent YoY to US$17.4bn. This growth in sales was accompanied by an EBITDA margin expansion of two per cent. Free cash flow reached a six-year high, as it more than doubled to US$1.2bn over the same period. 

CEMEX’s Urbanisation Solutions business experienced 31 per cent growth in 2023.

Stakeholder engagement

CEMEX achieved a Net Promoter Score (a metric used to quantify customer experience and loyalty to a brand or company) of 70, exceeding the industry benchmark. It is also stated in the report, that more than 60,000 global customers have onboarded in the company’s ‘CEMEX Go’ digital platform, through which 60 per cent of global orders were processed. 

CEMEX also celebrated 25 years since the start of its flagship CSR initiative ‘Patrimonio Hoy’, which aims to provide affordable housing solutions to low-income families in Mexico, and other countries where the company operates. So far, the programme has benefitted 665,000 families and has improved the living conditions of over 3m people.

Published under Cement News