CEMEX (CEMEXCPO) Investor Presentation summary

Strategic direction and leadership

• New CEO Jaime Muguiro to begin tenure in April 2025, bringing extensive experience across global operations and business lines.

• Strategy focuses on operational excellence, shareholder returns, and a comprehensive transformation framework.

• Emphasis on increasing profitability, reducing overhead, and shifting growth strategy to small/mid-size M&A, especially in the U.S.

Financial performance and guidance

• 2Q25 results aligned with guidance: net sales down 4% YoY, EBITDA down 9%, but free cash flow from operations up 38%.

• Project Cutting Edge aims for $200M EBITDA savings in 2025, with a run-rate of $400M by 2027.

• Net debt as of June 2025 stands at $5.76B, with a debt maturity profile averaging 3.8 years.

• 2025 outlook expects flat EBITDA with potential upside, high single-digit decrease in energy cost per ton, and $1.4B in total capex.

Regional highlights

• Mexico: Margin recovery trend continues, with optimism for 2H25 as construction activity is expected to pick up.

• U.S.: Margins remain near record highs due to operational efficiency and higher prices, despite volume declines.

• EMEA: Record first-half EBITDA, driven by strong demand, higher prices, and lower power costs; continued decarbonization progress.

• SCAC: Positive pricing and capacity expansion, with temporary margin impact from increased imports in Jamaica.