Cemex 2012 Annual Report Download - page 24
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with the right returns. We are also seizing every oppor-
tunity to drive down costs at both the operating and cor-
porate levels. As a result of our transformation process,
in 2012, we achieved an incremental recurring improve-
ment in our steady-state EBITDA of US$200 million on
top of the US$150 million we achieved last year, reaching
a run rate of US$400 million by the end of the year.
Recruit, retain, and cultivate world-class managers
Our senior management enjoys a strong track record
of operating diverse businesses throughout our indus-
try’s value chain in emerging and developed markets
globally. With this in mind, we will continue to focus
on recruiting, retaining, and developing motivated and
knowledgeable professional managers.
We encourage our managers to regularly review our
processes and practices and to identify innovative
management and business approaches to improve our
operations. By rotating our managers from one coun-
try to another and from one area of our operations to
another, we increase their diversity of experience and
knowledge of our business.
Foster our sustainable development
At CEMEX, sustainability is incorporated in our
strategy and our day-to-day operations. Our goal is
to provide building solutions that meet the needs of a
resource-constrained world, to minimize the ecologi-
cal footprint of our operations, and to foster closer
relationships with all of our relevant stakeholders.
Among our priorities, we look to take the lead in
sustainable construction through the development
of products, services, and building solutions for a
low-carbon economy. We also actively participate in
low-income housing programs and high-scale infra-
structure projects.
We have now reduced the amount of debt maturing
through March 2015 to approximately US$750 mil-
lion and addressed all of our required amortizations
under the new Facilities Agreement until February
2017. We have also increased the average life of our
debt to 5.0 years, from 3.8 years at the beginning of
2012, with no significant change in yearly interest
expense. We have further maintained more than ad-
equate liquidity to support our operations and contin-
ued to comply with our financial obligations.
Maximize our operating eciency
We constantly look for ways to reduce our costs and
maximize our operating eciency. In a rapidly changing,
challenging global business environment, we continually
adapt our global operations network to meet current mar-
ket dynamics. We are reshaping our portfolio to assure
that we are in the right businesses in the right markets
We will continue to focus
on recruiting, retaining, and
developing motivated and
knowledgeable professional
managers.
Arco Norte Highway, Mexico
24
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