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
For the month of February, 2013
Commission File Number: 001-14946
CEMEX, S.A.B. de C.V.
(Translation of Registrant’s name into English)
Avenida Ricardo Margáin Zozaya #325, Colonia Valle del Campestre
Garza García, Nuevo León, México 66265
(Address of principal executive office)
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 if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Contents
| 1. | Presentation that includes material information of CEMEX, S.A.B. de C.V. (NYSE:CX) discussed by its senior management on February 14, 2013 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) |
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| Date: |
February 14, 2013 |
By: | /s/ Rafael Garza |
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| Name: Rafael Garza |
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| Title: Chief Comptroller |
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EXHIBIT INDEX
| EXHIBIT NO. |
DESCRIPTION | |
| 1. |
Presentation that includes material information of CEMEX, S.A.B. de C.V. (NYSE:CX) discussed by its senior management on February 14, 2013 during its annual event, CEMEX Day. | |
Exhibit 1
CEMEX Day 2013
February 14, 2013
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 facilities agreement entered into with major creditors and other debt agreements, CEMEX’s ability to achieve anticipated cost savings, changes in interest rates, changes in inflation rates, changes in exchange rates, the cyclical activity of the 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 INTERNATIONAL FINANCIAL REPORTING STANDARDS
Copyright CEMEX, S.A.B. de C.V. and its subsidiaries.
2
Lorenzo H. Zambrano
Chairman and CEO
February 14, 2013
Today’s agenda
Implementing coherent business plan based on transformation
Growing profitably and improving returns on capital invested
Creating value through pricing that recovers the full cost of input inflation, and allows for returns above cost of capital
Executing solution-oriented commercial strategies to help our customers succeed
Recovering our investment grade ratings
Targeting EBITDA recovery to $4.7 billion in 2016
Consolidated EBITDA variation 2012-2016
($ B)
2.6
1.4
2.3
1.3
0.3
4.7
EBITDA Volume Price Var. costs Fixed costs EBITDA
2012 & distribution 2016
EBITDA Margin
+ 560 bps
23.1%
4
Juan Pablo San Agustín
EVP Planning and Business Development
February 14, 2013
Sustainable recovery underway
Turning business cycle in the U.S.
Accelerated growth in the Americas and Asia Positive EBITDA trend Leaner and more efficient organization Successful de-risking of balance sheet
An improved outlook for the next 4 years
Supported by an attractive business & geographic portfolio
3
Expect growth in cement demand to accelerate during the next 4 years
Regional Cement Demand Growth Trend
Significant growth (> 5% ) Moderate growth (2.5—5%) Limited growth (0—2.5%)
Cement Demand CAGR
2012 – 2016e
Central and South America & Caribbean
USA & Canada
10.1%
Mexico
3.1%
Middle East &
Northern Africa
Europe
1.7%
4.4%
5.5%
Central Asia
& Caucasus
4.2%
Russia
4.7%
Greater China
4.6%
7.8%
East Asia
2.1%
5.9%
South East Asia
2.1%
Oceania
Greater India
4
Making “Transformation” operational
Improving operating performance
Focus on pricing, including value added products and services Maintain cost discipline Outsource support activities
…while optimizing our portfolio
Swap assets to enhance value Assets divestments only if accretive
Divest non-core businesses and non-operating assets
5
Our global pricing strategy: Value-before-volume
Goals
Capture value delivered to our customers Recover cost of capital Recover input cost inflation
Concept and principles
Value-before-volume approach
Single framework with global deployment and local execution Structure, consistency, discipline and transparency to customers
Key elements
Price system to highlight the sources of value (e.g., surcharges) Price execution with the right organization, incentives and processes Price follow-up so that gaps can be identified and system adjusted
Over four years, a 1% compounded average price increase results in >$600 M of incremental EBITDA
6
Transformation visible across key profitability levers
EBITDA margin expansion during 2012
+1.9pp
15.6%
0.2%
3.2%
2.1%
1.0%
17.5%
EBITDA Volume Price Var. cost & Fixed EBITDA
2011 distribution cost & 2012
others
Pricing more than offset input cost inflation in 2012
Implementing value-based pricing
Shifting towards a solutions- oriented organization
Increasing share of special products
Further reduction of fixed costs
7
CEMEX holistic approach to value creation
Improving operating performance
Optimizing our portfolio
Improved return on capital
> 10%
< 5%
2012 2016
8
Translates into double digit EBITDA growth
Consolidated EBITDA variation 2007-2016
($ B)
Operational leverage
4.6
2.1
0.1
1.3
1.5
2.6
1.4
2.3
1.3
0.3
4.7
EBITDA Volume Price Var. Fixed EBITDA Volume Price Var. Fixed EBITDA
2007 costs costs 2012 costs costs 2016
& distribution & distribution
EBITDA
21.7%
Margin
– 420 bps
17.5%
+ 560 bps
23.1%
9
Translates into double digit EBITDA growth
Consolidated EBITDA variation 2007-2016
($ B)
Operational leverage
Pricing strategy
4.6
2.1
0.1
1.3
1.5
2.6
1.4
2.3
1.3
0.3
4.7
EBITDA Volume Price Var. Fixed EBITDA Volume Price Var. Fixed EBITDA
2007 costs costs 2012 costs costs 2016
& distribution & distribution
EBITDA Margin
21.7%
– 420 bps
17.5%
+ 560 bps
23.1%
10
Medium-term growth to come mainly from the Americas
2012 – 2016 EBITDA Growth by Region
($ M)
2,600
1,150
350
350
150
50
50
4,700
3% 8% 11%
21% 32% 24%
ASIA MED N. EUR
SCA&C MEX USA
EBITDA USA MEX SCA&C N. EUR MED ASIA EBITDA
2012 2016
CAGR 130% 7% 10% 9% 2% 12%
16%6%
2012-2016
11