Cemex experienced a fruitful second year of the pandemic with broken internal records. It had its highest operating cash flow growth figure in a decade with 18% more during 2021, due to higher volumes in net sales with 14% more, as well as a 5% growth in the cost of products, the highest rise since 2016.
This brought with it the development of other indicators, such as the operating flow margin that grew from 0.8 pp to 19.7% and the Free Cash Flow after Investments in Maintenance Fixed Assets with 15% more.
The Mexican cement company also highlighted its performance in sustainable matters, one of its pillars during the past year and which motivated them to launch their Vertua line, made with fewer emissions of harmful gases into the atmosphere.
“With our enhanced roadmap in place, we achieved our lowest carbon emission level on record and our largest annual decline. And we also push the limits of innovation: we present new sustainable products and develop innovative decarbonization technologies”, said Fernando González Olivieri, CEO of Cemex.
In Mexico in particular, the results of Cemex were also positive. Net sales grew 23% compared to the previous year to 3,466 million dollars, with an operating cash flow greater than 25%.
“Sales growth was driven by high-single-digit volumes and higher cement and ready-mix prices. During the year, bagged cement grew by double digits, supported by government social programs and record levels of remittances. Bagged volumes moderated during the second half of the year due to a more difficult comparative basis and the end of the mid-term elections.
Comparing quarter to quarter, the last of 2021 showed growth in net sales globally with 3% reaching 3,618 million dollars, and Operating EBITDA 3% to 651 million dollars. However, the EBITDA margin fell 0.1pp.
