CEMEX has posted strong results for the full year 2021 with double-digit EBITDA growth, the highest in more than a decade, coupled with a double-digit increase in sales driven by higher volumes and robust pricing in all core products in all regions.
Despite headwinds in energy and import costs, EBITDA margin increased 0.8% in the year. CO2 emissions declined 4.4%, the largest annual decline the company has ever achieved.
CEMEX’s net sales increased 14% to US$14,548 million in 2021 and 3% to US$3,618 million in the fourth quarter. Operating EBITDA increased 18% to US$2,861 million in 2021 and 3% to US$651 million in the fourth quarter. Consolidated net debt was reduced by US$2,265 billion, achieving the longest average life of debt in more than a decade, at 6.2 years.
CEMEX’s operations in the United States reported net sales of US$4,355 million in 2021, an increase of 9%, and US$1,094 million in the fourth quarter, an increase of 8%. Operating EBITDA increased 2% to US$762 million in 2021 and decreased 7% to US$174 million in Q4 2021.
In the Europe, Middle East, Africa and Asia region, net sales increased by 10% in 2021, to US$4,825 million, and 1% in the fourth quarter, to US$1,197 million. Operating EBITDA was US$676 million in 2021, 8% higher, and US$165 million for the fourth quarter, 4% higher.
“We are very pleased to report exceptional financial and strategic performance during 2021, despite the unprecedented challenges from COVID and cost inflation. I am proud of our efforts, the organisation, and how we responded to the unique circumstances of the year,” said Fernando A. González, CEO of CEMEX. “In 2021, under our Future in Action program, we accelerated our climate action ambition, establishing more aggressive 2030 decarbonisation goals as well as a detailed plant by plant roadmap to reach the targets.
“With our enhanced roadmap in place, we achieved our lowest carbon emission level on record and our largest annual year over year decline. And we pushed the boundaries on innovation – introducing new sustainable products and developing breakthrough decarbonisation technologies. Our performance gives me great confidence that we can reach not only our 2030 climate goal but also our Net Zero ambition.”
