Cemex has published its 2023 Integrated Report, titled Setting the Pace, which analyses its strategic vision, operational performance, and value creation in a year in which it continued to set EBITDA and decarbonisation records.
In 2023, Cemex achieved record EBITDA growth and set the stage for returning to investment grade. It 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 to expand 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 nearly 28 million tons 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 two 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 program Patrimonio Hoy which has benefitted 665,000 families and improved the living conditions of over 3 million people to date.
