CEMEX Reports Sales Increase, Sustainability Achievements

CEMEX used its highest amount of alternative fuel in 2022 and committed to more ambitious decarbonization targets, reported the company in its Integrated Report for 2022. The report provides an in-depth analysis of its operations, climate action and other achievements. The company also grew in sales sharply during the year, hitting US$15.6 billion

The "Shaping the Future Together," report also presents an outlook on the company’s strategic vision, corporate governance, value creation and operational performance, explained CEMEX via a press release. 

CEMEX also explained that it was among the first companies in the industry to have its 2030 and 2050 targets validated by the Science-Based Targets initiative under the 1.5°C scenario. The company also achieved a 9% carbon emissions reduction in the last two years and a 30% reduction since 1990. CEMEX highlighted that it launched the Vertua lower carbon concrete less than three years ago, which now accounts for 33% of concrete sales.

CEMEX reached its highest level of alternative fuel usage in 2022, which represented 35% of total used fuel. The company highlighted that it consumed 27 million tons of waste or 67 times of what was generated. The company also introduced Regenera, a new business line that offers circularity services, and launched the first fully electric and zero-emission heavy concrete mixer in the world. 

“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. We never lost sight of our strategic priorities: grow EBITDA through margin enhancement, achieve investment grade rating, optimize our portfolio for growth, and advance our sustainability agenda while leading the industry’s transition to a lower carbon and circular economy,” says Fernando González, CEO, CEMEX.

During the year, CEMEX’s net sales grew by 12% to reach US$15.6 billion. The company also reduced its total debt by US$408 million, which stands for a leverage ratio of 2.84x. The objective of the company is to reach an investment-grade rating in the short term, and CEMEX highlights that it is close to achieving this goal.