English

Cemex projects an EBITDA of US $ 3,100 million in 2021

Cemex projected that it will reach an EBITDA of 3.1 billion dollars in 2021 and that this indicator will grow in double digits in 2022.

The company is confident it will achieve an investment grade capital structure with three times leverage by the end of this month.

As a result of the above, Cemex has established a new leverage objective within its Operation Resilience goals, which consists of recovering an investment grade credit rating.

Due to significant year-on-year growth over the past three quarters, coupled with a favorable medium-term outlook, Cemex is raising its EBITDA guidance for 2021 to $ 3.1 billion, an increase of 26% over the prior year.

At the same time, the company expects to generate approximately $ 400 million of annual EBITDA in 2023 from its complementary investments, its margin improvement projects, as well as its 10 million metric tons of new cement capacity.

These new additions, which are expected to be completed by 2023, include 5 million metric tons of cement capacity in Mexico; 1 million in Europe; 2.3 million in the South and Central America and the Caribbean region; and 1.5 million in the Philippines.

These additions will be structured to take into consideration the company’s climate action priority.

Cemex

The company is an operating and holding company that, in general, operates its business through subsidiaries which, in turn, have interests in Cemex’s cement and ready-mix concrete operating companies, as well as in other businesses.

Cemex is one of the largest cement companies in the world, according to annual installed cement production capacity.

As of December 31, 2020, the company had 91.5 million tons of annual installed cement production capacity, and its cement sales volumes in 2020 were 63.8 million tons.

The company estimates that it is one of the largest ready-mix concrete and aggregates companies in the world, with annual sales volumes of 47.0 million cubic meters and 132.8 million tons respectively, in each case based on its annual sales volumes in 2020.

The company is also one of the largest cement and clinker trading companies in the world, having sold 10 million tons of cement and clinker in 2020