Cemex’s earnings have been hurt by rising inflation rates. During the third quarter of the year, the company was impacted by high rates and complications in supply chains, which has “delayed our ability to recover margins,” said Fernando González Olivieri, CEO of Cemex.
The results, which highlight worldwide an operating flow 6% lower compared to last year and 3.2 percentage points lower, occurs despite the fact that a strategy of increasing the prices of its products was deployed, which has overcompensated inflation in terms dollars and that brought a 13% increase in sales.
The net income reported by the company was 494 million dollars.
The worst markets for Cemex regarding operating flow were Mexico and Central, South America and the Caribbean, since despite reporting growth in sales of 9% and 2% respectively, the indicator fell 12% and 11%. While in the United States 19% more was sold and there was a 10% higher operating flow. In Europe, the Middle East, Asia and Africa, the figures were 16% and 8% higher.
Sustainability becomes the strong point
During 3Q22, the company reaped results from implementing its “green” strategies, since it reported a reduction in carbon emissions of 8% since the implementation of its Future in Action program; “This achievement was driven by record levels of alternative fuel use and clinker factor substitution. Our success to date gives us confidence to make a more accelerated route towards 2030”, said González Olivieri.