CEMEX to reach an investment-grade capital structure of 3 times
Cement

CEMEX to reach an investment-grade capital structure of 3 times

CEMEX revealed that its execution of strategic objectives under its operation resilience programme more speedily than expected earlier, a consequence of crucial management, including stable market performance.

The group is confident that it would accomplish an investment-grade capital structure of 3 times leverage by this month-end.

Currently, CEMEX has set up a new leverage target within its Operation Resilience goals, including regaining an investment-grade credit rating. However, due to the significant year-over-year growth over the last three quarters, coupled with a favourable medium-term outlook, the company is increasing its 2021 EBITDA guidance to $3.1 billion, a 26% jump from the previous year and now expects double-digit EBITDA growth in 2022.

CEMEX anticipates producing nearly $400 million of annual EBITDA in 2023 of its bolt-on purchases, margin improvement projects, as well as its 10 million metric tons of latest cement capacity.

These new additions are expected to be finished by 2023, with 5 million metric tonnes (mt) of cement capacity in Mexico, 2.3 million in the South, Central America and the Caribbean region, 1.5 million in the Philippines, and 1 million in Europe.

All these additions would be structured to take into consideration CEMEX's climate action priority.

Fernando A Gonzalez, the CEMEX CEO, told the media the company is reaching its long-awaited goal of an investment-grade capital structure by the end-month. Moreover, he said we are beginning a period of sustainable growth and have the best market outlook in years.

Image Source


Also read: Adani Enterprises enters cement market, forms Adani Cement

Also read: JSW cement forays into ready mix concrete business

CEMEX revealed that its execution of strategic objectives under its operation resilience programme more speedily than expected earlier, a consequence of crucial management, including stable market performance. The group is confident that it would accomplish an investment-grade capital structure of 3 times leverage by this month-end. Currently, CEMEX has set up a new leverage target within its Operation Resilience goals, including regaining an investment-grade credit rating. However, due to the significant year-over-year growth over the last three quarters, coupled with a favourable medium-term outlook, the company is increasing its 2021 EBITDA guidance to $3.1 billion, a 26% jump from the previous year and now expects double-digit EBITDA growth in 2022. CEMEX anticipates producing nearly $400 million of annual EBITDA in 2023 of its bolt-on purchases, margin improvement projects, as well as its 10 million metric tons of latest cement capacity. These new additions are expected to be finished by 2023, with 5 million metric tonnes (mt) of cement capacity in Mexico, 2.3 million in the South, Central America and the Caribbean region, 1.5 million in the Philippines, and 1 million in Europe. All these additions would be structured to take into consideration CEMEX's climate action priority. Fernando A Gonzalez, the CEMEX CEO, told the media the company is reaching its long-awaited goal of an investment-grade capital structure by the end-month. Moreover, he said we are beginning a period of sustainable growth and have the best market outlook in years. Image Source Also read: Adani Enterprises enters cement market, forms Adani Cement Also read: JSW cement forays into ready mix concrete business

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?