Cemex, S.A.B. de C.V. announced strong financial results for the third quarter of 2025, achieving double-digit consolidated EBITDA growth and the highest third-quarter EBITDA margin since 2020, with all operating regions contributing to the improvement.
Strong Operational and Financial Performance
Net sales increased by 5% year-over-year, while EBITDA rose at a double-digit rate, driven by higher consolidated prices and continued operational efficiencies across markets. The EBITDA margin expanded by 2.5 percentage points, marking a notable milestone in Cemex’s ongoing transformation.
The U.S. and EMEA regions delivered record third-quarter margins, while Mexico and South, Central America, and the Caribbean achieved multi-year highs, reflecting balanced growth across the portfolio.
Transformation Under Project Cutting Edge
Cemex’s transformation program, Project Cutting Edge, continued to deliver tangible results, generating approximately US$90 million in EBITDA savings in the third quarter alone. The company reaffirmed its full-year target of US$200 million in savings for 2025.
“Six months ago, we set out to make Cemex a best-in-class operator and deliver superior shareholder returns,” said Jaime Muguiro, CEO of Cemex. “Our achievements in the quarter confirm that we are setting a strong foundation to position Cemex as a more focused, agile, and high-performing company.”
Robust Cash Generation and Portfolio Optimization
Free Cash Flow from Operations increased significantly, supported by higher EBITDA, lower interest expense, and reduced cash taxes, achieving a 61% conversion rate for the quarter.
Cemex also advanced its portfolio rebalancing strategy, completing the divestment of its operations in Panama and acquiring a majority stake in Couch Aggregates, a leading aggregates producer in the southeastern United States. This acquisition strengthens Cemex’s footprint in a key high-growth market.
Decarbonization and Sustainability Leadership
Cemex’s European operations remain at the forefront of the company’s climate action strategy, already exceeding the European Cement Association’s 2030 CO₂ emissions target on a per-ton-of-cement-equivalent basis. This milestone underscores Cemex’s commitment to advancing decarbonization in the building materials industry.
