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: February 4, 2009
CEMEX, S.A.B. de
C.V.
(Exact
name of Registrant as specified in its charter)
CEMEX
Corp.
(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
|
Media
Relations
Jorge
Pérez
(52-81)
8888-4334
|
Investor
Relations
Eduardo
Rendón
(52-81)
8888-4256
|
Analyst
Relations
Luis
Garza
(52-81)
8888-4136
|
CEMEX
PROVIDES GUIDANCE FOR 2009
MONTERREY,
MEXICO, February 4, 2009 – CEMEX, S.A.B. de C.V. (NYSE: CX), announced today at
the company's Investor and Analyst Conference, CEMEX Day, that it expects EBITDA
for the full year 2009 to be in the range of US$3.5 billion to US$3.7 billion,
while free cash flow is expected to reach between US$1.9 billion and US$2.1
billion
Lorenzo
H. Zambrano, CEMEX Chairman and CEO, said: “The global financial and economic
crisis has presented CEMEX—and our industry—with unprecedented
challenges. Nevertheless, we remain confident that CEMEX has the
right strategy, resources, and management team to cope with the challenges we
face. As a result, we expect to emerge from the present crisis well positioned
for the next chapter of CEMEX’s long-running growth story.”
CEMEX
intends to reduce its net debt by approximately US$3.6 billion this year to
reach US$14.3 billion at the end of the year in order to restore financial
flexibility as soon as possible and meet its financial commitments.
CEMEX's
domestic cement and ready-mix volumes in Mexico are expected to
decrease by about 5% and 2%, respectively for 2009. We anticipate the flattening
in housing demand to continue, with a significant increase in infrastructure
construction.
In
CEMEX's operations in the United States, without
assuming any impact from the new stimulus package, we expect cement volumes to
decrease between 13% and 15%, ready-mix volumes to fall between 15% and 17%, and
aggregates volumes to be reduced between 13% to 15% for the full year. It is
expected that the housing and industrial and commercial sectors will continue to
decline well into the year. However, it is becoming increasingly clearer that
the U.S. authorities are committed to leveraging infrastructure spending as one
of the key components in an economic stimulus initiative designed to escape the
worst downturn since the Great Depression.
In
Spain, on a
like-for-like basis, adjusting for the divestment of our Canary Islands
operations, cement, ready-mix and aggregates are expected to decrease by about
20%, 27% and 16%, respectively, during 2009. The housing and non-residential
construction sectors are expected to decline during 2009. However, we expect the
government’s infrastructure investments to partly offset these
declines.
For the
full year 2009, CEMEX expects cement volumes in the United Kingdom to decrease by
about 16%, ready-mix volumes are expected to be reduced by about 14%, and
aggregates volumes are expected to fall by about 10%.
CEMEX
expects cement volumes in Germany to decrease by about
15% during 2009.
In
France, our ready-mix
volumes are
expected to fall by about 12% during 2009.
CEMEX
expects cement volumes in Colombia during 2009 to
decrease between 4% and 6%.
CEMEX
expects cement volumes in Egypt during 2009 to grow by
about 1%.
For the
full year 2009, ready-mix volumes in Australia are expected to
decrease by about 10%, while aggregates volumes are expected to fall by about
13%.
Guidance
numbers are calculated on the basis of market close exchange rates as of
February 3, 2009. Given the volatility of foreign exchange rates and the
exposure of our operations to factors beyond our control, our actual results
could be materially different from our indicative guidance.
CEMEX
is a growing global building materials company that provides high-quality
products and reliable service to customers and communities in more than 50
countries throughout the world. CEMEX has a rich history of improving the
well-being of those it serves through its efforts to pursue innovative industry
solutions and efficiency advancements and to promote a sustainable future. For
more information, visit www.cemex.com.
###
This
press release contains forward-looking statements and information that are
necessarily subject to risks, uncertainties and assumptions. Many factors could
cause the actual results, performance or achievements of CEMEX to be materially
different from those expressed or implied in this release, including, among
others, changes in general economic, political, governmental and business
conditions globally and in the countries in which CEMEX does business, changes
in interest rates, changes in inflation rates, changes in exchange rates, the
level of construction generally, changes in cement demand and prices, changes in
raw material and energy prices, changes in business strategy 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. CEMEX assumes no obligation to update or
correct the information contained in this press release.
EBITDA
is defined as operating income plus depreciation and amortization. Free Cash
Flow is defined as EBITDA minus net interest expense, maintenance and expansion
capital expenditures, change in working capital, taxes paid, and other cash
items (net other expenses less proceeds from the disposal of obsolete and/or
substantially depleted operating fixed assets that are no longer in operation).
Net debt is defined as total debt minus the fair value of cross-currency swaps
associated with debt minus cash and cash equivalents. The net debt to EBITDA
ratio is calculated by dividing net debt at the end of the quarter by EBITDA for
the last twelve months. All of the above items are presented under generally
accepted accounting principles in Mexico. EBITDA and Free Cash Flow (as defined
above) are presented herein because CEMEX believes that they are widely accepted
as financial indicators of CEMEX's ability to internally fund capital
expenditures and service or incur debt. EBITDA and Free Cash Flow should not be
considered as indicators of CEMEX's financial performance, as alternatives to
cash flow, as measures of liquidity or as being comparable to other similarly
titled measures of other companies.
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.
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CEMEX,
S.A.B. de C.V.
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(Registrant)
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Date:
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February
4, 2009
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By:
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/s/
Rafael Garza
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Name:
Rafael Garza
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Title:
Chief
Comptroller
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