CEMEX announced double-digit top-line growth for 2022 and fourth quarter 2022 driven by a robust pricing strategy designed to recover margins. Net sales increased 12% to $15,577 million in 2022, and 12% to $3,869 million in fourth quarter 2022.
- CEMEX’s operations in the United States reported net sales of $5,038 million in 2022, an increase of 16%, and $1,221 million in fourth quarter 2022, an increase of 12%. Operating EBITDA remained flat at $762 million in 2022 and increased 16% to $202 million in fourth quarter 2022.
- Net sales in Mexico increased 9% in 2022, to $3,842 million, and 13% in fourth quarter 2022, to $1,016 million. Operating EBITDA decreased 5% in 2022, to $1,133 million, and increased 4% in fourth quarter 2022, to $271 million.
- In the Europe, Middle East, Africa and Asia region, net sales increased by 14% in 2022, to $4,930 million, and 14% in fourth quarter 2022, to $1,199 million. Operating EBITDA was $670 million in 2022, 11% higher, and $146 million for fourth quarter 2022, 2% higher.
- CEMEX’s operations in the South, Central America and the Caribbean region, reported net sales of $1,605 million in 2022, an increase of 6%, and $377 million in fourth quarter 2022 an increase of 2%. Operating EBITDA decreased by 8% to $382 million in 2022 and decreased 13% to $84 million in the fourth quarter 2022.
“2022 was a year of unique challenges as inflation spiked to 40-year highs, but I am pleased by how we responded and expect to continue to see the benefits of our strategy play out in 2023,” said Fernando A. González, CEO of CEMEX. “Importantly, after several quarters in which we have been able to offset inflation in dollar terms, I am seeing growing evidence that actual margin recovery is underway. While EBITDA margin declined in fourth quarter 2022, the contraction was the lowest of the year, and sequential margins stabilized in a quarter where we historically see a significant decline due to seasonality. We also continued to achieve record-breaking reductions in CO2 emissions. Since the introduction of our Future in Action program in 2020, we have reduced emissions by approximately 9%, a reduction that in the past took us more than a decade to achieve.”