Global building materials company Cemex has reported robust third-quarter 2025 results, achieving double-digit EBITDA growth and a 2.5-percentage-point margin expansion, the company’s highest third-quarter EBITDA margin since 2020.
Net sales rose 5% year-over-year, driven by operational efficiencies, strong pricing, and disciplined cost management across all regions. The U.S. and EMEA businesses posted record third-quarter margins, while Mexico and South, Central America, and the Caribbean achieved multi-year highs.
Transformation Underway: Project Cutting Edge
Cemex’s transformation program, Project Cutting Edge, continues to deliver substantial benefits. The initiative contributed approximately US$90 million in EBITDA savings during the quarter, with the company on track to meet its full-year savings target of US$200 million in 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.”
Financial Highlights
- Consolidated EBITDA: Grew at a double-digit rate year-over-year.
- EBITDA Margin: Expanded by 2.5 percentage points, reaching its highest Q3 level since 2020.
- Net Income (adjusted for discontinued operations): Increased by 8% in Q3 2025.
- Free Cash Flow from Operations: Improved due to higher EBITDA, lower interest expense, and reduced cash taxes, achieving a 61% conversion rate for the quarter.
Strategic Portfolio Rebalancing
Cemex advanced its portfolio optimization strategy, completing the divestment of its Panama operations and acquiring a majority stake in Couch Aggregates, a leading U.S. aggregates producer in the Southeast. The acquisition strengthens Cemex’s footprint in a key growth market while supporting long-term profitability and regional integration.
Progress in Decarbonization Leadership
Cemex’s European operations continue to lead the company’s decarbonization agenda. The region is already ahead of the European Cement Association’s 2030 CO₂ emissions target, on a per-ton-of-cement-equivalent basis, underscoring Cemex’s commitment to sustainability and climate action.
