Cemex

At New York Climate Week, I joined leaders from industry, finance, policy, investment, innovation, and research for a discussion hosted by Cemex and HSBC titled “It takes a village” on how to accelerate the decarbonization of cement while preserving competitiveness, affordability, and performance. Cement and concrete are essential to modern society. They are part of the homes we live in, the infrastructure that connects us, and the cities we continue to build. Our industry also has a clear responsibility to reduce emissions and scale the solutions that can make the greatest impact. At Cemex, we believe in smart decarbonization: reducing emissions while continuing to deliver the durability, resilience, affordability, and performance our customers expect. We are making progress through energy and operational efficiency, alternative fuels and materials, lower clinker content, and a growing portfolio of lower-carbon cement and concrete solutions. This transition cannot be delivered by industry alone. It requires collaboration across the full ecosystem, including modernized building codes and standards, supportive regulatory frameworks, access to competitively priced clean energy, financing, and stronger demand for lower-carbon materials. One message from today’s discussion was clear: progress depends on using every responsible lever available today while creating the conditions for the next generation of technologies to scale. Thank you to HSBC, to our panelists Natalie Blyth, Lee Beck, David L., Randolph Kirchain, to our moderator Thomas Guillot, and to everyone in attendance. #ClimateWeekNYC #SustainableConstruction #Decarbonization #Cement #Concrete

Today we reported second-quarter results that reflect the continued progress of Cemex’s transformation. Our performance shows that the actions we are taking to build a stronger, more efficient, and more focused company are delivering results. Project Cutting Edge continues to contribute to this progress by strengthening our cost structure and reinforcing greater discipline across the business. These results are also supported by solid execution across our regions, resilient demand in key markets, and the commitment of our teams to serve our customers while improving the quality of our earnings. We remain focused on carrying this momentum forward and continuing to create value for our customers, employees, shareholders, and all our communities. Thank you to the Cemex team for your commitment, and for the results achieved and progress made in advancing our transformation.

Today Cemex launched its updated Code of Ethics and Business Conduct. How we do business matters. Our Code helps guide the decisions we make every day, from how we work with customers and suppliers to how we meet our responsibilities to our people, our communities, and all our stakeholders. The Code is grounded in our values and in the standards we expect across Cemex: acting with integrity, protecting Health and Safety, respecting the law, and doing what is right even when the situation is complex. It is organized around three clear commitments: we adhere, we report, we inspire. We adhere by following the rules and applying our standards consistently. We report by speaking up when something is not right, knowing that Cemex protects those who raise concerns in good faith. We inspire by leading through our actions and setting the example for others. A strong culture of integrity is built through daily decisions. It depends on each of us acting with accountability, transparency, and respect in every part of our business. Thank you to our teams around the world for continuing to uphold the values and standards that define Cemex.

Cemex has a proud history of serving the UK construction industry, and today I was honored to visit the people who make it happen. During my visit to our UK Head Office, Tilbury, and Rugby Cement Plant, I had the opportunity to see the breadth of our business in the country. From the teams who support our customers and coordinate our operations, to the facilities that help keep essential building materials moving, Cemex UK plays an important role in supporting construction across the country. These visits are also an opportunity to listen. I was encouraged by the energy of our colleagues, their focus on the changes underway across Cemex, and their commitment to strengthening how we operate in a dynamic market. Across every part of our business, our priorities remain clear: Health and Safety, operational discipline, customer focus, and continuous improvement. These fundamentals are essential to building a stronger, more efficient, and more resilient Cemex. Thank you to our CEMEX UK team for the warm welcome.

At Cemex, Health and Safety comes first. It defines how we operate and how we hold ourselves accountable every day. On this World Day for Safety and Health at Work, we reaffirm our number one value. It shapes our decisions, our actions, and the way we lead across the company. This commitment goes beyond compliance. It is embedded in our culture and reinforced through strong management systems, continuous training, and leadership accountability at every level. From our Health and Safety Management System aligned with ISO 45001 to our Visible Felt Leadership program and our Zero4Life commitment, we are building a safer, more resilient company. We continue to make progress across key safety metrics, including a lost time injury frequency rate of 0.3 and 97% of our operations achieving zero injuries. These results reflect discipline, consistency, and the daily commitment of our teams around the world. Our responsibility is clear. Maintain focus and enforce our standard so that every person who works with us goes home safe every day!

Today we reported our first-quarter results, reflecting continued progress in strengthening Cemex. We delivered record EBITDA, driven by operating efficiencies, disciplined pricing, and the ongoing impact of Project Cutting Edge. Margin expansion and a meaningful improvement in free cash flow point to a business that is becoming leaner and more resilient. Execution across our regions remains strong. Mexico delivered solid growth supported by volume recovery and Project Cutting Edge savings. EMEA and our South, Central America and the Caribbean region both contributed double-digit EBITDA growth. The United States showed resilience despite adverse weather, with continued progress in ready-mix and aggregates. Project Cutting Edge continues to play a central role. It is driving structural improvements in how we operate, simplifying the organization, and reinforcing a more efficient and performance-driven culture. We are also advancing our portfolio, taking steps to exit lower-return assets while strengthening our position in more attractive markets, including our recent acquisition of Omega, a leading mortars and stucco company in the western United States. At the same time, we remain focused on increasing shareholder return, with share buybacks during the quarter and a meaningful increase in our dividend approved at our annual shareholders’ meeting in March. While the global environment remains uncertain, our direction is clear. We are building a more efficient, more focused, and more resilient Cemex, with a stronger earnings profile and clear momentum.