Cemex 2012 Annual Report Download - page 5
Download and view the complete annual report
Please find page 5 of the 2012 Cemex annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2 -
3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
14 -
15 -
16 -
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
 |
 |
After six consecutive quarters of year-over-year growth,
our operating EBITDA rose 10% to US$2.6 billion in
2012, despite a 2% decline in our consolidated net sales
to US$15.0 billion. This is our highest operating EBITDA
generation since 2009. Improved pricing and volume in
the Americas and Asia, as well as continued cost-reduc-
tion efforts, led to our highest operating EBITDA margin
in three years. Nonetheless, our operating free cash
flow after maintenance capital expenditures decreased
11% to US$169 million for the year.
Our portfolio is well positioned for profitable growth.
During 2012, we were able to more than offset the
weakness that we experienced in our Northern Europe
and Mediterranean regions with the favorable market
dynamics and strong operating leverage in the rest of
our portfolio. Indeed, the anticipated, continued recov-
ery of our most important markets should continue to
drive consolidated volume growth, while improving our
return on invested capital.
Dear stockholders: 2012 was a year of recovery for
CEMEX. We made considerable prog-
ress in our efforts to transform your
company into a more agile, flexible,
and competitive organization. I am
pleased to report that we produced
significant, positive results for our
customers, communities, employees,
and stockholders.
From left to right, standing: Joaquín
Estrada, Fernando A. González, Ignacio
Madridejos, Lorenzo H. Zambrano, Jaime
Elizondo, and Jaime Muguiro.
Seated: Juan Pablo San Agustín, Juan
Romero, Karl Watson, Jr., and Luis
Hernández.
5
< I I >