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. | Third 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. |
Third 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
Karl H. Watson Jr.
President USA
February 14, 2013
Housing starts expected to surpass steady-state levels during 2016
Housing Starts
(Thousand units)
2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0
77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11 13e 15e 17e
Multi-Family Single Family
Steady- State 1,600
Source: U.S. Census and internal estimates
3
Growth in our key markets expected to exceed 10% national average
Total Portland Cement Consumption
(M tons)
Florida
25 20 15 10 5 0
03 05 07 09 11 13 15 17
+15%
Texas
25 20 15 10 5 0
03 05 07 09 11 13 15 17
+7%
California
25 20 15 10 5 0
03 05 07 09 11 13 15 17
+11%
Arizona
25 20 15 10 5 0
03 05 07 09 11 13 15 17
+16%
Source: USGS, internal estimates
4
Our cement prices need to recover cost of capital
At current reported cement prices, averaging $90/ton (1), CEMEX will not achieve an adequate return on investment
Increasing fuel and energy costs have not been passed on to the market
Stricter environmental regulations will require additional investment
As history has shown, prices need to reach $140/ton to justify large scale reinvestments
Source: USGS reported prices
5
Successfully implementing ready mix pricing strategy
CEMEX Ready Mix Price Evolution
($/m3)
+5%
105.9
3.6
102.3
4.5
1.2
111.6
4.8
106.8
Fees & Surcharges
Base Price
Dec 2011 Price Increase Fees & Dec 2012 Surcharges
6
Continuous effort to achieve excellence in cost management
Cement Production Cash Costs
(% of total, 2012)
Power
Raw Materials
Fuel
Labor
Other
19%
13%
12%
18%
38%
Alternative Fuels Usage
Annual Average Substitution Rate (%)
4.8%
7.3%
10.4%
13.9%
18.2%
22.1%
~50%
2007 2008 2009 2010 2011 2012 2016
Target
7
Operating leverage reflected in high incremental margins
Quarterly Operating Leverage
(YoY % Var.)
15%
12%
43%
42%
38%
4Q11 1Q12 2Q12 3Q12 4Q12
8
Promising returns expected over 4 years
EBITDA Evolution – 2012-2016
($ M)
43
817
613
138
128
1,206
EBITDA Volume Price Var. costs Fixed costs EBITDA
2012 & distribution 2016
9
Conclusion
Positive fundamentals expected to drive medium-term recovery Pricing strategy in place to capture full value of our products Innovative commercial solutions to enhance volume growth Cost efficiency continuously being pursued to maximize profitability
10
Juan Romero
President Mexico
February 14, 2013
Housing segment
INFONAVIT Credits Program
(thousand loans)
545
565
585
605
615
2013 2014 2015 2016 2017
Positive demographics
Homebuilders adapting to new environment
Positive outlook for self-construction
Potential impact of economic reforms
After a transition year, we expect low single digit growth
Source: INFONAVIT, INEGI, BBVA Bancomer Research, Deutsche Bank, Credit Suisse.
3
Infrastructure segment
Public Infrastructure Investment
(Constant $B, 2012 prices (1))
50.9
51.2
51.7
53.0
55.2
57.9
60.2
2010 2011 2012 2013 2014 2015 2016
Strong public finances
New administration committed with continued infrastructure spending
Increasing private participation in infrastructure financing
New public-private partnership law
Source: CMIC, CEMEX estimates.
1) For convenience, all Mexican peso amounts were converted to U.S. dollars using a constant exchange rate of 13.15 pesos per dollar
4
Cost reduction
SG&A as a % of Sales (1)
8% 6% 4% 2% 0%
6.8
6.4
6.2
2010 2011 2012
Alternative Fuels Usage
(Share in fuel mix)
50% 40% 30% 20% 10% 0%
9
15
18
23
30
36
40
´10 ´11 ´12 ´13 ´14 ´15 ´16
A 1% increase results in average savings of ~US$2 M
1) Excluding freight and depreciation
5
Differentiated Product Offer for industrial applications
Portfolio of 24 special ready mix products
+30% margin increase vs. standard ready mix
Cutting Edge Technology for Industrial and Commercial Flooring solutions
Low shrinkage flooring: Increased joint spacing from the standard 5m, to 100m
In 2012 special products represented 42% of total ready mix volume sold, growing +8pp from 2010
6
Mid-term earnings expectations
EBITDA variation 2012-2016
($ M)
1,208
278
443
264
96
1,569
EBITDA Volume Price Var. costs Fixed costs EBITDA
2012 & distribution 2016
7