UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 29, 2011
CEMEX, S.A.B. de C.V.
(Exact name of Registrant as specified in its charter)
CEMEX PUBLICLY TRADED STOCK CORPORATION WITH VARIABLE CAPITAL
(Translation of Registrant’s name into English)
United Mexican States
(Jurisdiction of incorporation or organization)
Av. Ricardo Margáin Zozaya #325, Colonia Valle del Campestre
Garza García, Nuevo León, México 66265
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
N/A
Contents
| EXHIBIT NO. | DESCRIPTION | |
| 1. |
Presentation that includes material information of CEMEX, S.A.B. de C.V. discussed by its senior management on September 29, 2011 during its annual event, CEMEX Day. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A.B. de C.V. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CEMEX, S.A.B. de C.V. | ||||||||||||
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| (Registrant) | ||||||||||||
| Date: | September 29, 2011 |
By: | /s/ Rafael Garza |
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| Name: | Rafael Garza | |||||||||||
| Title: | Chief Comptroller | |||||||||||
EXHIBIT INDEX
| EXHIBIT NO. |
DESCRIPTION | |
| 1. |
Presentation that includes material information of CEMEX, S.A.B. de C.V. discussed by its senior management on September 29, 2011 during its annual event, CEMEX Day. | |
Exhibit 1
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Exhibit 1
CEMEX Day
September 29, 2011
www.cemex.com
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Forward looking information
This presentation contains certain forward-looking statements and information relating to CEMEX, S.A.B. de C.V. and its subsidiaries (collectively, “CEMEX”) that are based on its knowledge of present facts, expectations and projections, circumstances and assumptions about future events. Many factors could cause the actual results, performance or achievements of CEMEX to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic, political, governmental, and business conditions globally and in the countries in which CEMEX operates, CEMEX’s ability to comply with the terms and obligations of the financing agreement entered into with major creditors and other debt agreements, changes in interest rates, changes in inflation rates, changes in exchange rates, the cyclical activity of construction sector generally, changes in cement demand and prices, CEMEX’s ability to benefit from government economic stimulus plans, changes in raw material and energy prices, changes in business strategy, changes in the prevailing regulatory framework, natural disasters and other unforeseen events and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or targeted. Forward-looking statements are made as of the date hereof, and CEMEX does not intend, nor is it obligated, to update these forward-looking statements, whether as a result of new information, future events or otherwise.
UNLESS OTHERWISE NOTED, ALL FIGURES ARE PRESENTED IN DOLLARS, BASED ON OUR MEXICAN FRS FINANCIAL STATEMENTS
Copyright CEMEX, S.A.B. de C.V. and its subsidiaries.
2
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CEMEX Transformation – Impact on P&L
Target set at ~US$400 million annually Expect US$150 million to be realized by end of 2011 and balance by end of 2012; to be fully reflected in 2013
Efficient and effective organization o Reduction of organizational layers o Elimination of redundancies o Headcount to be reduced by 6% Streamlined SG&A expenses o Elimination of non value-added activities Operational improvement of underperforming assets o Elimination of operating losses
US$ million
400 300 200 100 0
100
75
225
400
Personnel SG&A Operational Total expenses expenses improvement
3
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CEMEX Transformation – Savings identified so far…
US$ million
400 300 200 100 0
56
71
332
205
Personnel expenses
SG&A expenses
Operational improvement
Total
4
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CEMEX Transformation – Impact on Balance Sheet
Systematic rationalization of non-productive assets
Mainly real estate
Additionally, divestment of non-strategic assets that currently do not generate EBITDA
US$ million Real Estate Sales
800
700
600
500 400 300
200 100 0
300 320 800 180
2011 2012 2013+ Total
5
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Consolidated SG&A as a % of Sales (1)
11.1% 10.9%
10.1%
2009 2010 2011e
(1) Excluding freight and depreciation
6
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Mexico: Evolution of Alternative Fuels Share in Fuel Mix
9%
16%
24%
36%
42%
46%
2010 2011e 2012e 2013e 2014e 2015e
Annual savings (US$ million) 18 45 59 67
A 1% increase results in average savings of ~US$2.2 million
7
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Mexico: Logistics Efficiency Circuit time: 24 hours Round trip: 331 km Cost reduction: ~25% vs. one way
Bagged cement
Morelia, Mich.
Huichapan, Hgo.
Alternative fuels
Expected annual savings of ~US$25 million by 2012
8
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Mexico: CEMEX Transformation – Current Identified Savings (US$ million)
96
Operational improvement
SG&A
Headcount
30
13
53
2011e 2012e
32 11 7 14
9
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Outlook 2011
Consolidated cement and ready-mix volumes expected to grow 1% and 5%, respectively, while aggregates volumes expected to remain flat
Cost of energy, on a per-ton-of-cement-produced basis, expected to increase by about 17%
Total capex expected to reach US$470 million, US$350 million in maintenance capex and US$120 million in strategic capex
No significant change expected in working capital investments from 2010 levels
No significant change expected in cost of debt, including perpetual and convertible notes
10
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Outlook
Expected mid-cycle consolidated EBITDA of at least US$4.5 to US$5 billion
Expected mid-cycle EBITDA contribution from the United States should be between US$1.5 to US$1.8 billion
EBITDA expected to grow next year
U.S. operations expected to be profitable next year
Expect to raise US$1 billion in asset sales by the end of next year
Continue to comply with our financial covenants this and next year
11
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2011 Volume Outlook (vs. 2010)
Gray Cement Ready Mix Aggregates
Consolidated 1% 5% flat
Mexico 3% 7% (2%)
U.S. (3%) (5%) (6%)(1)
Spain (13%) (15%) (14%)
U.K. 5% 9% 3%
Germany 13% 12% 10%
France N/A 9% 9%
Colombia 6% 35% 51%
Egypt no guidance no guidance no guidance
Poland 13% 20% Flat
Philippines (5%) N/A N/A
(1) Comparable terms for existing operations
12
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CEMEX Day
September 29, 2011
www.cemex.com