Rating agency Standard & Poor’s (S&P) announced today that it has upgraded Cemex’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation. “Achieving an investment-grade credit rating from S&P is a very important milestone for Cemex,” said Fernando A. González,...
Full capital market separation and US listing of its North American business Transaction intended to be executed as a spin-off, benefitting all shareholders Creating the leading pure-play North American building solutions company US listing of North American business expected to complete in H1 2025 Holcim post US listing of North America to further strengthen its...
Cemex’s circular waste management business, Regenera, and DP World, a global leader in supply chain solutions, have signed an agreement for circular waste management solutions in the Dominican Republic. Per the agreement, Regenera will convert used tires from DP World Dominicana’s logistics operations into a substitute for fossil fuels, thereby avoiding landfilling and the associated...
Cemex has acquired a mortar plant near Madrid, Spain, as part of its ongoing strategy to increase EBITDA through bolt-on acquisitions, focusing on providing more sustainable alternatives to growing urban centers. The new plant is equipped with the latest technology to enable the production of traditional and specialty mortars with enhanced sustainability attributes. Cemex’s nearby...
Global net revenue totaled R$5.8 billion, an 18% increase compared to 1Q22. Adjusted EBITDA was R$779 million, an increase of 85% over the same period last year, with a positive impact on the EBITDA margin. Leverage, measured by the net debt/adjusted EBITDA ratio, was 1.78x, slightly lower than in the first quarter of 2022;...
At the beginning of May 2023, Cemex reported a 9% growth in Sales and a 6% growth in EBITDA in the first quarter of 2023. The strong results are attributable to pricing, decelerating input cost inflation, and contributions from the company’s growth investments and the Urbanization Solutions business. EBITDA margin showed significant sequential improvement, with...
Adjusted EBITDA was R$4.9 billion, 6% lower than the previous year. EBITDA margin was 19%, five percentage points lower than in 2021. Leverage, measured by the net debt/adjusted EBITDA ratio, was 1.55x, the same as 2021 and the best level in over ten years. Net profit in the year was R$1.1 billion. The company...
Despite the slowdown in the world economy, Votorantim Cimentos continues to operate within solid financial metrics and with high liquidity, maintaining its investment grade status with a stable outlook attributed by the credit rating agencies Moody’s and Fitch. The company’s leverage remained at stable levels and in line with our financial policy. In May, we carried out a transaction in the international market that repurchased the most expensive debt in our portfolio, taking advantage of attractive market rates. And we used funds from debt issuances in the local market with more attractive rates to finance our operation,” said Bianca Nasser, Global CFO of Votorantim Cimentos.
Consolidated net revenue totaled R$22.3 billion in 2021, an increase of 33%. Adjusted EBITDA was R$5.2 billion, up 37% over the previous year. EBITDA margin was 24%, 1 percentage point higher than in 2020. Leverage, measured by the net debt/adjusted EBITDA ratio, dropped from 1.95x to 1.55x, the best level in the last ten years....