Setting the pace

In 2023, Cemex not only achieved record EBITDA growth and set the stage for returning to investment grade but also made substantial progress in its decarbonisation commitments, reducing Scope 1 and 2 specific CO₂ emissions by 13% and 12%, respectively, since 2020. Cemex also launched its Regenera waste management business worldwide as part of the expansion of its profitable Urbanisation Solutions portfolio.

“Our performance is a testament to the focus and commitment of our employees worldwide”, said Fernando A. González, CEO of Cemex. “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.”

Some of the main accomplishments presented in Cemex's 2023 Integrated Report are:

Future in Action:

• From 2020, Cemex reduced Scope 1 and 2 specific CO₂ emissions by 13% and 12%, respectively, a pace that would have taken 15 years to accomplish previously.
• First company in the industry to provide validated environmental impact disclosure for 100% of cement products.
• Vertua products account for 56% of total cement sales, with an average 45% CO₂ reduction.
• Vertua is now a US$7.2 billion global brand.
• Increased alternative fuel usage to 37%, the highest level in Cemex’s history.
• Decreased clinker factor to 72%, a record for the company’s cement operations.
• Repurposed close to 28 million t of waste and byproducts through the Regenera business line.
• Implemented water optimisation plans in 30% of its sites located in water-stressed areas.

Financial:

• Full-year EBITDA grew 25%, reaching a record US$3.35 billion.
• Free cash flow more than doubled to US$1.2 billion, reaching a six-year high.
• Consolidated net sales reached US$17.4 billion, an increase of 12%.
• EBITDA margin expanded 2 percentage points, recovering 2021 margins.
• Urbanisation Solutions business grew 31%.

Stakeholder Engagement:

• Achieved a Net Promoter Score of 70, surpassing the industry customer loyalty benchmark.
• More than 60 000 customers globally have been onboarded in the Cemex Go digital platform.
• Processed approximately 60% of global orders through Cemex Go.
• Celebrated 25 years of its flagship social programme Patrimonio Hoy which has benefitted 665 000 families and improved the living conditions of over 3 million people to date.