Cemex reports strong third-quarter EBITDA growth and continued progress in its transformation strategy.
The Monterey, Mexico-headquartered global building materials giant’s Q3 2025 net sales increased by 5% year-on-year to US$4.245 billion ($4.055bn), while consolidated EBITDA grew at a double-digit rate (19%) to $882 million ($743mn in Q3 2024), supported by operational efficiencies and higher consolidated prices.
EBITDA margin expanded by 2.5 percentage points year-over-year to 20.8%, reaching its highest third-quarter level since 2020. The U.S. and EMEA achieved record third-quarter margins, while Mexico and the South, Central America and the Caribbean region posted multi-year EBITDA margin highs.
Cemex made significant headway in the rollout of Project Cutting Edge, capturing approximately US$90 million in EBITDA savings in the third quarter and expects to meet its full-year goal of US$200 million in 2025.
“Six months ago, we set out to make Cemex a best-in-class operator and deliver superior shareholder returns,” said Jaime Muguiro, CEO of Cemex. “Our achievements in the quarter confirm that we are setting a strong foundation to position Cemex as a more focused, agile and high-performing company.”
Free Cash Flow from operations improved on higher EBITDA, lower interest expense, and reduced cash taxes. Free Cash Flow from Operations conversion rate reached 61% in the quarter.
Cemex also advanced on its portfolio rebalancing strategy by completing the divestment of its operations in Panama and acquiring a majority stake in Couch Aggregates, a leading aggregates producer in the southeastern United States, strengthening its position in a key growth market.
Cemex’s operations in Europe remain at the forefront of its decarbonisation efforts, already ahead of the European Cement Association’s 2030 CO₂ emissions target, on a per ton of cement equivalent basis, reflecting the Company’s climate action leadership.
