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CEMEX Reports Fourth-Quarter And Full-Year 2012 Results

CEMEX, S.A.B. de C.V. ("CEMEX") (NYSE: CX), announced today that for the full year 2012, operating EBITDA increased by 10% to US$2.6 billion, with net sales reaching US$15.0 billion a decline of 2% on a year-over-year basis. During the fourth quarter, operating EBITDA increased by 13% to US$611 million while net sales were stable at US$3.7 billion.

CEMEX’s Consolidated Fourth-Quarter and Full-Year 2012 Financial and Operational Highlights

  • The infrastructure and residential sectors were the main drivers of demand in most of our markets.
  • Operating earnings before other expenses, net, in the fourth quarter increased by 26%, to US$285 million, from the comparable period in 2011 and increased by 35%, to US$1.3 billion, for the full-year 2012.
  • Operating EBITDA increased during the fourth quarter by 13% and increased 10% for the full-year 2012.
  • Operating EBITDA margin grew by 1.9 and 2.0 percentage points during the quarter and the full year 2012, respectively, on a year-over-year basis.
  • Free cash flow after maintenance capital expenditures for the quarter was US$228 million, down 40% compared with US$379 million in the same quarter of 2011.

Fernando A. González, Executive Vice President of Finance and Administration, said: “2012 was a year of recovery for CEMEX. During the year, we achieved the highest EBITDA generation and operating EBITDA margin since 2009 and the fourth quarter was the sixth consecutive quarter with a year-over-year EBITDA increase. We are particularly pleased with the quarterly performance of our operations in the United States, and the South, Central America and Caribbean and Asia regions. In the case of the U.S., we were EBITDA-profitable again for the first time since 2009. In addition, we had record-high cement volumes in Colombia, Panama, Nicaragua and the Philippines.

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