"2022 was a year of unexpected challenges for many businesses as inflation spiked to 40-year highs. We are pleased with how we responded to these challenges and expect to continue to see the benefits of our actions in 2023," said Fernando A. González, CEO of Cemex. "We never lost sight of our strategic priorities: grow EBITDA through margin enhancement, achieve investment grade rating, optimise our portfolio for growth, and advance our sustainability agenda while leading the industry's transition to a lower carbon and circular economy."
Some of the main accomplishments presented in Cemex's 2022 Integrated Report are:
Future in Action:
• Cemex committed to more ambitious decarbonisation targets and was among the first in the industry to have its 2030 and 2050 targets validated by the Science-Based Targets initiative under the 1.5°C scenario.
• Achieved a record 9% reduction in specific carbon emissions over the last two years, reaching a 30% cumulative reduction vs. its 1990 baseline.
• Vertua lower carbon concrete, launched less than 3 years ago, now accounting for 33% of concrete sales.
• Increased alternative fuel usage to 35%, the highest level in Cemex's history.
• Clinker factor decreased to 73.7%, a record for Cemex's cement operations.
• Presented Regenera, a new Cemex business offering circularity services. In 2022, Cemex consumed 27 million tons of waste, 67 times the non-recyclable waste we generated.
• Launched the world's first fully electric and zero-emission heavy concrete mixer.
• Implemented water optimisation plans in 20% of our sites located in high-water stress areas.
• Invested over US$1 billion in strategic projects since 2020, advancing CO2 reduction goals, increasing production capacity, and driving growth in Urbanization Solutions.
Financial:
• Net sales grew 12% to US$15.6 billion.
• Reduced total debt by US$408 million, achieving a leverage ratio of 2.84x.
• Focused on achieving an investment-grade rating in the short term, currently one notch away.
• Progressed significantly in optimising the portfolio for growth.
Digital Strategy:
• The Cemex Go end-to-end digital platform is being used by over 53,000 customers in 21 countries.
• Launched Cemex Go Acceleration initiative to evolve the platform into a fully automated, data-powered experience with an increased focus on CO2 reduction in the supply chain of our products.
• Working Smarter digital transformation initiative is leveraging digital technologies, operative models, and innovation from leading service suppliers to reshape business management services.
To read Cemex's 2022 Integrated Report, visit: www.cemex.com/IntegratedReport2022
