EX-3 4 d912924dex3.htm EX-3

EX-3

2015

First Quarter Results

Exhibit 3

2

This presentation contains forward-looking statements within the meaning of the U.S. federal securities laws.

CEMEX, S.A.B. de C.V. and its direct and indirect subsidiaries (“CEMEX”) intends these forward-looking statements

to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. In

some

cases,

these

statements

can

be

identified

by

the

use

of

forward-looking

words

such

as

“may,”

“should,”

“could,”

“anticipate,”

“estimate,”

“expect,”

“plan,”

“believe,”

“predict,”

“potential”

and “intend”

or other similar

words. These forward-looking statements reflect CEMEX’s current expectations and projections about future events

based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events. These

statements necessarily involve risks and uncertainties that could cause actual results to differ materially from

CEMEX’s expectations. Some of the risks, uncertainties and other important factors that could cause results to

differ, or that otherwise could have an impact on CEMEX or its subsidiaries, include the cyclical activity of the

construction sector; CEMEX’s exposure to other sectors that impact CEMEX’s business, such as the energy sector;

competition; general political, economic and business conditions

in the markets in which CEMEX operates; the

regulatory environment, including environmental, tax, antitrust and acquisition-related rules and regulations;

CEMEX’s

ability

to

satisfy

CEMEX’s

obligations

under

its

material

debt

agreements,

the

indentures

that

govern

CEMEX’s senior secured notes and CEMEX’s other debt instruments; the impact of CEMEX’s below investment

grade debt rating on CEMEX’s cost of capital; CEMEX’s ability to consummate asset sales, fully integrate newly

acquired businesses, achieve cost-savings from CEMEX’s cost-reduction initiatives and implement CEMEX’s global

pricing initiatives for CEMEX’s products; the increasing reliance on information technology infrastructure for

CEMEX’s invoicing, procurement, financial statements and other processes that can adversely affect operations in

the event that the infrastructure does not work as intended, experiences technical difficulties or is subjected to

cyber-attacks; weather conditions; natural disasters and other unforeseen events; and the other risks and

uncertainties described in CEMEX’s public filings. Readers are urged to read these presentations and carefully

consider the risks, uncertainties and other factors that affect CEMEX’s business. The information contained in these

presentations is subject to change without notice, and CEMEX is not obligated to publicly update or revise forward-

looking statements. Readers should review future reports filed by CEMEX with the U.S. Securities and Exchange

Commission. Unless the context indicates otherwise, all references to pricing initiatives, price increases or

decreases, refer to CEMEX’s prices for CEMEX’s products.

UNLESS OTHERWISE NOTED, ALL FIGURES ARE PRESENTED IN DOLLARS,

BASED ON INTERNATIONAL FINANCIAL REPORTING STANDARDS, AS APPLICABLE

Copyright CEMEX, S.A.B. de C.V. and its subsidiaries

3

1Q15 results highlights

During the quarter, operating EBITDA increased by 14% on a like-to-like basis mainly due to

higher contributions from the U.S., Mexico, and the Northern Europe and Asia regions

Millions of US dollars

2015

2014

% var

l-t-l   %

var 

2015

2014

% var

l-t-l %

var 

Net sales

3,400

3,591

(5%)

7%

3,400

3,591

(5%)

7%

Gross profit

1,033

986

5%

15%

1,033

986

5%

15%

Operating earnings before

other expenses, net

335

268

25%

33%

335

268

25%

33%

Operating EBITDA

569

535

6%

14%

569

535

6%

14%

Free cash flow after

maintenance capex

(281)

(454)

38%

(281)

(454)

38%

January - March

First Quarter

Highest 1Q operating EBITDA since 2008

Highest 1Q operating EBITDA margin since 2010, due in part to our continued cost-

reduction initiatives

Highest consolidated 1Q cement and ready-mix volumes in 7 and 6 years,

respectively

Consolidated prices in local-currency terms for cement, ready mix and aggregates

increased year-over-year by 3%, 3% and 5%, respectively, during the quarter

Record-low level of working capital days during the quarter

Successfully completed our three transactions with Holcim in the

Czech Republic,

Germany and Spain during January 2015

Issuance of  about approximately US$1.35 billion in senior secured notes,

improving our debt maturity profile, reducing our interest expense and

strengthening our capital structure

4

1Q15 achievements

5

Consolidated volumes and prices

1

Like-to-like volumes adjusted for investments/divestments and, in the case of prices, foreign-exchange fluctuations

Cement and ready-mix volumes increased by 4% and 5%, respectively, reflecting higher volumes

mainly in Mexico, the U.S. and the Asia region

Record-high, first-quarter cement volumes in the Philippines and Nicaragua and ready-mix volumes

in Colombia, Nicaragua, Poland, Egypt and Croatia achieved during the quarter

Quarterly year-over-year

and sequential increases in consolidated prices for our three core

products on a like-to-like basis

3M15 vs. 3M14

1Q15 vs. 1Q14

1Q15 vs. 4Q14

Volume (l-t-l

1

)

4%

4%

(4%)

Price (USD)

(6%)

(6%)

(3%)

Price (l-t-l

1

)

3%

3%

1%

Volume (l-t-l

1

)

5%

5%

(7%)

Price (USD)

(6%)

(6%)

(2%)

Price (l-t-l

1

)

3%

3%

3%

Volume (l-t-l

1

)

(0%)

(0%)

(11%)

Price (USD)

(4%)

(4%)

1%

Price (l-t-l

1

)

5%

5%

5%

Aggregates

Domestic gray

cement

Ready mix

First Quarter 2015

Regional Highlights

7

Mexico

Millions of

US dollars

Net Sales

766

737

4%

18%

766

737

4%

18%

Op. EBITDA

262

250

4%

18%

262

250

4%

18%

as % net sales

34.2%

34.0%

0.2pp

34.2%

34.0%

0.2pp

1Q15

1Q14

% var

l-t-l % var

3M15

3M14

% var

l-t-l % var  

Increase in year-over-year volumes in our three

core products, with double-digit growth in

cement

Quarterly prices for our three products in local-

currency terms higher both sequentially and on

a year-over-year basis

The formal residential sector was the main

driver of demand during the quarter, favored

by increased subsidies from the CONAVI and

INFONAVIT mortgages

In the infrastructure sector, we have a healthy

pipeline of projects for the rest of the year

Volume

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

13%

13%

(0%)

Ready mix

9%

9%

(5%)

Aggregates

7%

7%

(11%)

Price (LC)

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

5%

5%

4%

Ready mix

6%

6%

2%

Aggregates

9%

9%

4%

8

United States

Millions of

US dollars

Net Sales

868

792

10%

10%

868

792

10%

10%

Op. EBITDA

64

28

129%

129%

64

28

129%

129%

as % net sales

7.4%

3.5%

3.9pp

7.4%

3.5%

3.9pp

1Q15

1Q14

% var

l-t-l % var

3M15

3M14

% var

l-t-l % var  

Ready-mix and aggregates volumes grew on a year-

over-year basis during the quarter; cement

volumes were flat

Cement volumes, excluding oil-well cement and

related activity, grew by 4%

Year-over-year price growth for our three core

products; sequential price increases for cement

and ready mix

Construction spending in the industrial-and-

commercial sector continued strong during the

quarter

Activity in the residential sector continues to be

strong; housing permits in our four key states—TX,

FL, CA and AZ—grew

12% year-to-date February,

compared with an 8% increase at the national level

Volume

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

0%

0%

(11%)

Ready mix

15%

15%

4%

Aggregates

3%

3%

2%

Price (LC)

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

9%

9%

2%

Ready mix

7%

7%

2%

Aggregates

3%

3%

(1%)

9

Northern Europe

Millions of

US dollars

Net Sales

701

912

(23%)

0%

701

912

(23%)

0%

Op. EBITDA

36

13

180%

80%

36

13

180%

80%

as % net sales

5.1%

1.4%

3.7pp

5.1%

1.4%

3.7pp

1Q15

1Q14

% var

l-t-l % var

3M15

3M14

% var

l-t-l % var  

Pro-forma cement volumes, adjusting for the

transactions with Holcim, improved by 18% while

ready-mix and aggregates volumes declined by

4% and 1%, respectively

In Germany, pro-forma cement volumes

increased by 5% while ready-mix and aggregates

volumes declined by 8% and 10%, respectively;

pro-forma cement prices remained flat

sequentially

In Poland, our domestic gray cement volumes

increased by 32%, reflecting improved weather

conditions as well as a considerably stronger

weight of volumes to our ready-mix operations

In the UK, double-digit growth in cement

volumes during the quarter

1

Volume-weighted, local-currency average prices

Volume

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

2%

2%

(25%)

Ready mix

(15%)

(15%)

(27%)

Aggregates

(19%)

(19%)

(33%)

Price (LC)

1

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

2%

2%

5%

Ready mix

2%

2%

6%

Aggregates

12%

12%

17%

10

Mediterranean

Millions of

US dollars

Net Sales

375

412

(9%)

2%

375

412

(9%)

2%

Op. EBITDA

73

81

(11%)

(3%)

73

81

(11%)

(3%)

as % net sales

19.4%

19.7%

(0.3pp)

19.4%

19.7%

(0.3pp)

1Q15

1Q14

% var

l-t-l % var

3M15

3M14

% var

l-t-l % var  

Regional pro-forma cement volumes, adjusted for

the acquisition of cement assets from Holcim in

Spain, decreased by 10% during the quarter

In Egypt, unusual rainy and cold weather during

the quarter affected our cement volumes

In Spain, pro-forma cement volumes, adjusting for

the acquisition of assets from Holcim, declined by

8% during the quarter, reflecting a strong 1Q14 in

which high volumes resulted from pricing

dynamics

In Spain, pro-forma cement prices, increased by

7% on a sequential basis in local-currency terms

1

Volume-weighted, local-currency average prices

Volume

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

(4%)

(4%)

(0%)

Ready mix

2%

2%

(1%)

Aggregates

(16%)

(16%)

(5%)

Price (LC)

1

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

8%

8%

(2%)

Ready mix

1%

1%

1%

Aggregates

4%

4%

2%

11

South, Central America and the Caribbean

1

Volume-weighted, local-currency average prices

Millions of

US dollars

Net Sales

468

538

(13%)

(4%)

468

538

(13%)

(4%)

Op. EBITDA

148

187

(21%)

(13%)

148

187

(21%)

(13%)

as % net sales

31.6%

34.7%

(3.1pp)

31.6%

34.7%

(3.1pp)

1Q15

1Q14

% var

l-t-l % var

3M15

3M14

% var

l-t-l % var  

Increase in regional ready-mix and aggregates

volumes, on a year-over-year basis; in cement,

favorable dynamics in Puerto Rico, Panama, the

Dominican Republic, Costa Rica, and Nicaragua

were offset by the decline mainly in Colombia

In Colombia, cement volumes decline during the

quarter mainly from a strong comparison in

1Q14 and our price increase during January that

resulted in a decline in market share

In Panama, increase in cement volumes relates

mainly to higher sales to the Panama Canal

project during the quarter, compared to the

same period last year where stoppages in the

project resulted in lower consumption

Volume

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

(5%)

(5%)

(6%)

Ready mix

3%

3%

(3%)

Aggregates

5%

5%

(5%)

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

(1%)

(1%)

1%

Ready mix

2%

2%

2%

Aggregates

0%

0%

(1%)

Price

(LC)

1

12

Asia

1

Volume-weighted, local-currency average prices

Millions of

US dollars

Net Sales

164

146

13%

13%

164

146

13%

13%

Op. EBITDA

37

26

43%

42%

37

26

43%

42%

as % net sales

22.6%

17.7%

4.9pp

22.6%

17.7%

4.9pp

1Q15

1Q14

% var

l-t-l % var

3M15

3M14

% var

l-t-l % var  

Regional cement volumes increase during the

quarter reflects positive performance from our

operations in the Philippines

During the quarter, year-over-year growth in

regional cement and ready-mix prices, in local-

currency terms

In the Philippines, double-digit growth in cement

volumes during the quarter was mainly driven by

the industrial-and-commercial sector and activity

from the new grinding mill introduced in 2Q14

Volume

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

16%

16%

10%

Ready mix

(7%)

(7%)

(7%)

Aggregates

(49%)

(49%)

9%

Price (LC)

1

3M15 vs.

3M14

1Q15 vs.

1Q14

1Q15 vs.

4Q14

Cement

2%

2%

0%

Ready mix

3%

3%

1%

Aggregates

(14%)

(14%)

(2%)

1Q15 Results

14

Operating EBITDA, cost of sales and operating expenses

Millions of US dollars

2015

2014

% var

l-t-l

% var  

2015

2014

% var

l-t-l

% var

Net sales

3,400

3,591

(5%)

7%

3,400

3,591

(5%)

7%

Operating EBITDA

569

535

6%

14%

569

535

6%

14%

as % net sales

16.7%

14.9%

1.8pp

16.7%

14.9%

1.8pp

Cost of sales

2,367

2,605

9%

2,367

2,605

9%

as % net sales

69.6%

72.5%

2.9pp

69.6%

72.5%

2.9pp

Operating expenses

697

718

3%

697

718

3%

as % net sales

20.5%

20.0%

(0.5pp)

20.5%

20.0%

(0.5pp)

January - March

First Quarter

Operating EBITDA increased by 14% on a like-to-like basis mainly due to higher contributions

from the U.S., Mexico, and the Northern Europe and Asia regions

Cost of sales, as a percentage of net sales, decreased by 2.9pp during the quarter mainly driven

by our cost-reduction initiatives

Operating expenses, as a percentage of net sales, increased by 0.5pp mainly due to higher

distribution expenses during the quarter

15

Free cash flow

Millions of US dollars

2015

2014

% var

2015

2014

% var

Operating EBITDA

569

535

6%

569

535

6%

- Net Financial Expense

316

350

316

350

- Maintenance Capex

76

69

76

69

- Change in Working Cap

297

304

297

304

- Taxes Paid

160

227

160

227

- Other Cash Items (net)

(1)

39

(1)

39

Free Cash Flow after Maint. Capex

(281)

(454)

38%

(281)

(454)

38%

- Strategic Capex

76

23

76

23

Free Cash Flow

(357)

(477)

25%

(357)

(477)

25%

January - March

First Quarter

Working capital days decreased to 24, from 29 days during the same period in 2014

Foreign-exchange gain of US$59 million resulting primarily from the fluctuation of the

Mexican peso and the Euro versus the U.S. dollar

Loss

on

financial

instruments

of

US$59

million

related

mainly

to

CEMEX

shares

Controlling interest net loss of US$149 million, versus a loss of US$293 in 1Q14, mainly

reflects higher operating earnings before other expenses, lower financial expenses, higher

foreign-exchange gain, and lower income tax, partially offset by a higher loss on financial

instruments and a higher equity in loss of associates

16

Other income statement items

First Quarter 2015

Debt Information

Issuance of US$750 million of 6.125% senior secured notes maturing in 2025 and €550 million

of 4.375% senior secured notes maturing in 2023 during the quarter

During the quarter, total debt plus perpetual securities increased by US$417 million

Issuance

of

US$200

million

of

convertible

subordinated

notes

due

2020

used

to

refinance the

convertible subordinated notes that matured on March 13, 2015

18

Debt-related information

Positive conversion effect during the quarter of US$208 million

19

Consolidated debt maturity profile

972

2,922

2,179

1,434

2,065

195

Millions of

US dollars

1,938

964

2,003

991

Avg. life of debt: 5.1 years

Fixed Income

Facilities Agreement

Other bank / WC debt / Certificados

Bursátiles

Convertible

Subordinated

Notes

2

New Syndicated-Bank Loan Facility

Total debt excluding perpetual notes

1

as of March 31, 2015

US$ 16,250 million

1

CEMEX has perpetual debentures totaling US$458 million

2

Convertible Subordinated Notes include only the debt component of US$1,732 million; total notional amount is about US$1,868 million

3

As per IFRS, 2015 includes US$222 million of debt due in 2020 (9.250% senior secured notes) re-classified as short term debt due to the

exercise from CEMEX of a redemption option (effective May 12, 2015)

3

586

0

1,000

2,000

3,000

4,000

5,000

6,000

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

20

Consolidated

debt

maturity

profile

–

pro

forma

1

972

3,221

2,179

1,434

2,146

195

1,938

964

2,003

24

Fixed Income

Facilities Agreement

Other bank / WC debt / Certificados

Bursátiles

New Syndicated-Bank Loan Facility

Total debt excluding perpetual notes

2

as of March 31, 2015

US$ 15,662 million

1

Pro

forma

includes:

(a)

full

redemption

of

US$222

million

9.250%

senior

secured

notes

due

2020

and

US$746

million

floating

rate

senior

secured notes due 2015; (b) US$379 million withdrawn from the Facility B of the New Syndicated-Bank Loan Facility signed in October 2014

and use of cash reserve of US$588 million created with senior secured notes issued on March 2015

2

CEMEX has perpetual debentures totaling US$458 million

3

Convertible Subordinated Notes include only the debt component of US$1,732 million; total notional amount is about US$1,868 million

586

Millions of

US dollars

Avg. life of debt: 5.3 years

0

1,000

2,000

3,000

4,000

5,000

6,000

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Convertible

Subordinated

Notes

3

2015 Outlook

We expect mid-single-digit increases in consolidated volumes for cement, mid to high-single-

digit increases for ready mix, and low to mid-single-digit increases for aggregates

Cost of energy, on a per ton of cement produced basis, expected to decline slightly from last

year’s level

Total capital expenditures expected to be about US$800 million, US$500 million in

maintenance capex and US$300 million in strategic capex

We expect

working

capital

investment

during

the

year

to

be

about

US$50

million

We expect cash taxes to reach levels of between US$550 and US$600 million

We expect a reduction in our cost of debt of US$100 million, including our perpetual and

convertible securities

22

2015 guidance

Appendix

24

Additional information on debt and perpetual notes

Interest rate

Fixed

73%

Variable

27%

Currency denomination

U.S. dollar

86%

Euro

12%

Mexican peso

1%

1

Includes convertible notes and capital leases, in accordance with IFRS

2

Consolidated Funded Debt as of March 31, 2015 was US$14,183 million, in accordance with our contractual obligations under the

Facilities Agreement

3

EBITDA calculated in accordance with IFRS

4

Interest expense in accordance with our contractual obligations under the Facilities Agreement

Fourth Quarter

2015

2014

% Var.

2014

Total debt

1

16,250

16,693

(3%)

15,825

Short-term

12%

6%

8%

Long-term

88%

94%

92%

Perpetual notes

458

477

(4%)

466

Cash and cash equivalents

939

845

11%

852

Net debt plus perpetual notes

15,769

16,325

(3%)

15,440

Consolidated Funded Debt

2

/ EBITDA

3

5.11

5.54

5.19

Interest coverage

3 4

2.44

2.12

2.34

First Quarter

Millions of US dollars

25

1Q15 volume and price summary: Selected countries

Prices

Prices

Prices

(LC)

(LC)

(LC)

Mexico

13%

(8%)

5%

9%

(7%)

6%

7%

(4%)

9%

U.S.

0%

9%

9%

15%

7%

7%

3%

3%

3%

Germany

1

(54%)

(14%)

7%

(53%)

(18%)

2%

(66%)

(12%)

9%

Poland

2

32%

(25%)

(8%)

25%

(21%)

(3%)

(14%)

5%

28%

France

N/A

N/A

N/A

(14%)

(19%)

(0%)

(8%)

(19%)

(0%)

UK

18%

(6%)

4%

(2%)

(1%)

8%

6%

(1%)

9%

Spain

3

28%

(17%)

3%

(20%)

(7%)

15%

(11%)

(13%)

7%

Egypt

(12%)

2%

11%

57%

14%

25%

54%

106%

125%

Colombia

(15%)

(21%)

(1%)

5%

(17%)

3%

5%

(20%)

(1%)

Panama

9%

(3%)

(3%)

(9%)

(2%)

(2%)

0%

(2%)

(2%)

Costa Rica

8%

6%

5%

10%

(7%)

(7%)

45%

(4%)

(5%)

Philippines

21%

3%

2%

N/A

N/A

N/A

N/A

N/A

N/A

1Q15 vs. 1Q14

Domestic gray cement 

1Q15 vs. 1Q14

Prices

(USD)

Volumes

Ready mix  

Volumes

Prices

(USD)

Volumes

Prices

(USD)

Aggregates

1Q15 vs. 1Q14

1

On a pro-forma basis adjusting for the transactions with Holcim closed at

aggregates volumes increased by 5% and declined by 8% and 10%, respectively, on a year-over-year basis. Pro-forma prices, on a

sequential basis, remained flat for cement and increased by 1% both for ready mix and aggregates, in local-currency terms

2

The quarterly improvement in domestic gray cement in Poland reflects improved weather conditions as well as a considerably

stronger weight of volumes to our ready-mix operations; we expect domestic gray cement volumes in Poland

upcoming quarters from the consolidation of sales in the country

3

On a pro-forma basis adjusting for the transactions with Holcim closed at

8%, on a year-over-year basis. Pro-forma cement prices increased sequentially by 7%, in local-currency terms

the beginning of the quarter, cement, ready-mix, and

previously done from the recently acquired plant in the Czech Republic

the beginning of the quarter, cement volumes declined by

to benefit in the

26

2015 expected outlook: Selected countries

1

On a like-to-like basis for the ongoing operations

Domestic gray cement

Ready mix

Aggregates

Volumes

Volumes

Volumes

Consolidated

1

mid-single-digit

growth

mid to high-single-

digit growth

low to mid-single-

digit growth

Mexico

mid to high-single-

digit growth

mid to high-single-

digit growth

mid-single-digit

growth

United States

mid-single-digit

growth

mid-teens growth

mid-single-digit

growth

Germany

1

3%

6%

4%

Poland

6%

8%

0%

France

N/A

(5%)

(5%)

UK

4%

3%

4%

Spain

1

4%

(25%)

(9%)

Egypt

(9%)

52%

4%

Colombia

mid-single-digit

growth

Panama

(7%)

4%

4%

Costa Rica

(1%)

6%

9%

Philippines

14%

N/A

N/A

low-teens growth

low-teens growth

27

Definitions

3M15

/

3M14:

Results

for

the

first

three

months

of

the

years

2015

and

2014,

respectively.

Cement:

When

providing

cement

volume

variations,

refers

to

domestic

gray

cement

operations

(starting in 2Q10, the base for reported cement volumes changed from total domestic cement

including clinker to domestic gray cement)

LC:

Local

currency

Like-to-like

percentage

variation

(l-t-l

%

var):

Percentage

variations

adjusted

for

investments/divestments and currency fluctuations

Maintenance

capital

expenditures:

Investments

incurred

for

the

purpose

of

ensuring

the

company’s operational continuity. These include capital expenditures on projects required to

replace obsolete assets or maintain current operational levels, and mandatory capital

expenditures, which are projects required to comply with governmental regulations or company

policies

Operating

EBITDA:

Operating

earnings

before

other

expenses,

net

plus

depreciation

and

operating amortization

pp:

Percentage points

Prices:

All references to pricing initiatives, price increases or decreases, refer to our prices for

our products

Strategic

capital

expenditures:

Investments

incurred

with

the

purpose

of

increasing

the

company’s profitability. These include capital expenditures on projects designed to increase

profitability by expanding capacity, and margin improvement capital expenditures, which are

projects designed to increase profitability by reducing costs

28

Contact information

In the United States        

+1 877 7CX NYSE

In Mexico                      

+52 81 8888 4292

ir@cemex.com

Investor Relations

NYSE (ADS): CX

Mexican Stock Exchange:

CEMEXCPO

Ratio of CEMEXCPO to

CX:10 to 1

Stock Information