Form 6-K

 

 

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 October, 2019

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,

              San Pedro Garza García, Nuevo León 66265, México              

(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 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.    Press release, dated October 24, 2019, announcing third quarter 2019 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX).
2.    Third quarter 2019 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX).
3.    Presentation regarding third quarter 2019 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX).

 


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.

 
                   (Registrant)  
Date:  

    October 24, 2019

    By:  

            /s/ Rafael Garza Lozano

 
          Name: Rafael Garza Lozano  
          Title: Chief Comptroller  

 

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EXHIBIT INDEX

 

EXHIBIT

NO.

   DESCRIPTION
1.    Press release, dated October 24, 2019, announcing third quarter 2019 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX).
2.    Third quarter 2019 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX).
3.    Presentation regarding third quarter 2019 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE: CX).

 

4

Press release, dated October 24, 2019

Exhibit 1

 

Media Relations      Investor Relations
Andrea Castro Velez      Pablo Gutierrez
+57 (1) 603-9134      +57 (1) 603-9051
andrea.castro@cemex.com      pabloantonio.gutierrez@cemex.com

 

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CLH’S CONSOLIDATED GRAY CEMENT VOLUMES

IMPROVED DURING THE THIRD QUARTER

 

 

Consolidated gray cement volumes reached 1.5 million tons during the third quarter, an improvement of 1%, compared to those of the same period of last year, driven by improved volumes mainly in Colombia

 

In Colombia, net sales improved by 8% during the quarter in local-currency terms, compared to those of the same period of 2018, driven by increased volumes and prices in all our 3 core products

 

Free cash flow reached US$50 million during the first nine months of the year, an improvement of 43% on a year-over-year basis

 

Net debt was reduced by US$62 million during the first nine months of the year, from US$827 million as of December, to US$765 million as of September

BOGOTA, COLOMBIA. OCTOBER 24, 2019 – CEMEX Latam Holdings, S.A. (“CLH”) (BVC: CLH), announced today that its consolidated net sales reached US$245 million during the third quarter of 2019, a decline of 12% in U.S.-dollar terms or of 4% in local-currency terms, compared to those of the same period of 2018. Operating EBITDA reached US$46 million during the third quarter, a decline of 26% in U.S.-dollar terms or of 20% in local-currency terms, on a year-over-year basis.

During the third quarter of 2019, consolidated domestic gray cement volumes increased by 1%, while both ready-mix and aggregates volumes declined by 9%, compared to those of the third quarter of 2018. Consolidated prices in local-currency terms for domestic gray cement and ready-mix declined by 1% and 2%, respectively, while for aggregates increased by 1%, during the quarter on a year over year basis.

Jesus Gonzalez, CEO of CLH, said, “We are encouraged by the positive trends in Colombian-cement demand and by our cement volume and price performance in this country during the first nine months of the year. Nevertheless, this positive trend in sales was not strong enough to offset the increases in coal, electricity and distribution costs in Colombia, and the much weaker markets across Central America. To respond to this challenge, as part of our A Stronger CEMEX plan, we have saved so far US$12 million, out of our new 2019 target of US$16 million of recurring savings”.

Jesus Gonzalez added, “Despite this challenging environment, we are pleased with our free cash flow generation and debt reduction during the first nine months of the year. Our free cash flow reached US$50 million dollars in this period, an improvement of 43% on a year-over-year basis. We reduced our net debt by US$62 million dollars, from US$827 million as of December to US$765 million as of September”.

Consolidated Corporate Results

During the third quarter, controlling interest net income was a loss of US$4 million, compared to a gain of US$19 million during the same quarter of 2018.

Geographical Markets Third Quarter 2019 Highlights

 

1


Operating EBITDA in Colombia reached US$20 million, 25% lower in U.S.-dollar terms or 12% lower in local-currency terms, compared to that of the third quarter of 2018. Net sales on a year-over-year basis declined by 6% in U.S.-dollar terms or increased by 8% in local-currency terms, to US$127 million, during the quarter.

In Panama, operating EBITDA declined by 18% to US$14 million during the quarter. Net sales reached US$45 million during the third quarter of 2019, a 22% decline compared to those of the same period of 2018.

In Costa Rica, operating EBITDA reached US$5 million during the quarter, 58% lower both in U.S.-dollar and local-currency terms, on a year-over-year basis. Net sales reached US$25 million, a decline of 25% in U.S.-dollar terms or of 24% in local-currency terms, compared to those of the third quarter of 2018.

In the Rest of CLH operating EBITDA declined by 15% in U.S.-dollar terms or by 13% in local-currency terms, to US$14 million during the quarter. Quarterly net sales reached US$51 million, 9% lower in U.S.-dollar terms or 6% lower in local-currency terms, compared to those of the same period of 2018.

In accordance with its vision, CLH will continue constantly evolving to become more flexible in our operations, more creative in our commercial offerings, more sustainable in our use of resources, more innovative in conducting our business, and more efficient in our capital allocation. CLH is a regional leader in the building solutions industry that provides high-quality products and reliable services to customers and communities in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, and Guatemala.

###

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 CLH 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 CLH 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, changes derived from events affecting CEMEX, S.A.B de C.V. and subsidiaries (“CEMEX”) 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. CLH assumes no obligation to update or correct the information contained in this press release.

Operating EBITDA is defined as operating earnings before other expenses, net plus depreciation and operating amortization. Free Cash Flow is defined as operating 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). All of the above items are prepared under International Financial Reporting Standards as issued by the International Accounting Standards Board. Operating EBITDA and Free Cash Flow (as defined above) are presented herein because CLH believes that they are widely accepted as financial indicators of CLH’s ability to internally fund capital expenditures and service or incur debt. Operating EBITDA and Free Cash Flow should not be considered as indicators of CLH’s financial performance, as alternatives to cash flow, as measures of liquidity or as being comparable to other similarly titled measures of other companies.

 

2

Third quarter 2019 results for CEMEX Latam Holdings, S.A.

Exhibit 2

 

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ï,§ Stock Listing Information Colombian Stock Exchange S.A. Ticker: CLH ï,§ Investor Relations Pablo Gutiérrez +57 (1) 603-9051 E-mail: pabloantonio.gutierrez@cemex.com


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OPERATING AND FINANCIAL HIGHLIGHTS January—September Third Quarter l-t-l l-t-l 2019 2018 % var 2019 2018 % var % var % var Consolidated cement volume 4,892 4,969 (2%) 1,647 1,638 1% Consolidated domestic gray cement volume 4,392 4,366 1% 1,480 1,462 1% Consolidated ready-mix volume 1,831 1,945 (6%) 601 658 (9%) Consolidated aggregates volume 4,377 4,794 (9%) 1,426 1,559 (9%) Net sales 752 849 (11%) (5%) 245 277 (12%) (4%) Gross profit 290 347 (16%) (10%) 96 114 (16%) (9%) as % of net sales 38.6% 40.9% (2.3pp) 39.2% 41.3% (2.1pp) Operating earnings before other expenses, net 87 131 (33%) (28%) 27 42 (34%) (27%) as % of net sales 11.6% 15.4% (3.8pp) 11.2% 15.0% (3.8pp) Controlling interest net income (loss) 8 53 (86%) -4 19 N/A Operating EBITDA 146 192 (24%) (19%) 46 62 (26%) (20%) as % of net sales 19.4% 22.7% (3.3pp) 18.7% 22.2% (3.5pp) Free cash flow after maintenance capital 52 35 46% 11 16 (33%) expenditures Free cash flow 50 35 43% 11 17 (37%) Net debt 765 834 (8%) 765 834 (8%) Total debt 788 857 (8%) 788 857 (8%) Earnings of continuing operations per share 0.01    0.13 (90%) (0.01)    0.05 N/A Shares outstanding at end of period 557 557 0% 557 557 0% Employees 3,896 4,156 (6%) 3,896 4,156 (6%) Cement and aggregates volumes in thousands of metric tons. Ready-mix volumes in thousands of cubic meters. In millions of US dollars, except volumes, percentages, employees, and per-share amounts. Shares outstanding are presented in millions. Consolidated net sales during the third quarter of 2019 declined by 12% to that of the third quarter of 2018. The decline in local-currency terms in U.S.-dollar terms, or by 4% in local-currency terms, compared to those is mainly due to increased maintenance expenses and logistics cost, as of the third quarter of 2018. Improved sales in Colombia and El Salvador well as to lower sales, partially offset by SG&A savings related to our were more than offset by decreases in the rest of our countries, in local- Stronger CEMEX plan. currency terms. Operating EBITDA margin during the third quarter of 2019 declined by Cost of sales as a percentage of net sales during the third quarter 3.5pp, compared to that of the third quarter of 2018. increased by 2.1pp from 58.7% to 60.8%, on a year-over-year basis. Controlling interest net income during the third quarter was negative Operating expenses as a percentage of net sales during the quarter US$4 million, compared to US$19 million during the same quarter of increased by 1.7pp from 26.2% to 27.9%, compared to those of 2018. 2018. Operating EBITDA during the third quarter of 2019 declined in U.S.- Total debt declined US$23 million during the quarter, reaching US$788 dollar and local-currency terms by 26% and 20%, respectively, compared million. 2019 Third Quarter Results                Page 2


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OPERATING RESULTS Colombia January—September Third Quarter l-t-l l-t-l 2019 2018 % var 2019 2018 % var % var % var Net sales 376 399 (6%) 7% 127 134 (6%) 8% Operating EBITDA 59 74 (20%) (10%) 20 26 (25%) (12%) Operating EBITDA margin 15.7% 18.5% (2.8pp) 15.7% 19.7% (4.0pp) In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January—January—January— Third Quarter Third Quarter Third Quarter September September September Volume 11% 12% 6% 6% 1% 2% Price (USD) (9%) (8%) (12%) (11%) (8%) (9%) Price (local currency) 3% 5% (0%) 2% 5% 4% Year-over-year percentage variation. In Colombia, during the third quarter our domestic gray cement, ready-mix and aggregates volumes increased by 12%, 6%, and 2%, respectively, compared to those of the third quarter of 2018. For the first nine months of the year, our domestic gray cement, ready-mix and aggregates volumes increased by 11%, 6%, and 1%, respectively, on a year-over-year basis. We are encouraged by the positive cement-demand trend in Colombia driven by the infrastructure and the self-construction sectors. We estimate that cement-industry demand increased by 7% during the third quarter and by 4% year-to-date September. Our cement prices during the quarter increased by 2% sequentially and by 5% year-over-year, in Colombian-pesos terms. Our cement prices from December 2018 to September increased by 8%, in local-currency terms. Panama January—September Third Quarter l-t-l l-t-l 2019 2018 % var 2019 2018 % var % var % var Net sales 143 169 (16%) (16%) 45 58 (22%) (22%) Operating EBITDA 38 52 (27%) (27%) 14 17 (18%) (18%) Operating EBITDA margin 26.8% 30.8% (4.0pp) 30.7% 29.1% 1.6pp In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January—January—January— Third Quarter Third Quarter Third Quarter September September September Volume (14%) (22%) (26%) (38%) (31%) (33%) Price (USD) (6%) (6%) (2%) 0% (6%) (8%) Price (local currency) (6%) (6%) (2%) 0% (6%) (8%) Year-over-year percentage variation. In Panama during the third quarter our domestic gray cement, ready-mix and aggregates volumes decreased by 22%, 38%, and 33%, respectively, compared to those of the third quarter of 2018. For the first nine months of 2019, our domestic gray cement, ready-mix and aggregates volumes declined by 14%, 26%, and 31%, respectively, on a year-over-year basis. Cement demand was weak during the quarter. We estimate that cement-industry demand declined by 10% during this period and by 7% year-to-date September. Cement demand continued to be affected by high levels of inventory in apartments and offices, as well as by the consolidation of the new government. In the infrastructure sector, cement consumption from the “Corredor de las playas” project was slower than expected, and the Fourth Bridge over the Canal has not started cement consumption yet. 2019 Third Quarter Results                Page 3


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OPERATING RESULTS Costa Rica January—September Third Quarter l-t-l l-t-l 2019 2018 % var 2019 2018 % var % var % var Net sales 80 112 (28%) (26%) 25 33 (25%) (24%) Operating EBITDA 24 37 (36%) (33%) 5 12 (58%) (58%) Operating EBITDA margin 29.6% 33.0% (3.4pp) 19.6% 34.9% (15.3pp) In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January—January—January— Third Quarter Third Quarter Third Quarter September September September Volume (23%) (14%) (26%) (42%) (5%) (27%) Price (USD) (5%) (4%) 0% (4%) (11%) (15%) Price (local currency) (2%) (4%) 4% (4%) (8%) (15%) Year-over-year percentage variation. In Costa Rica, during the third quarter our domestic gray cement, ready-mix and aggregates volumes decreased by 14%, 42%, and 27%, respectively, compared to those of the third quarter of 2018. For the first nine months of the year, our domestic gray cement, ready-mix and aggregates volumes declined by 23%, 26% and 5%, respectively, on a year-over-year basis.    Cement-industry demand remained weak during the quarter. We estimate that it declined by 7% during this period and by 11% year-to-date September. Cement demand continued to be affected by the uncertainty related to the implementation of the fiscal reform, as well as by the slow execution of infrastructure projects. Rest of CLH January—September Third Quarter l-t-l l-t-l 2019 2018 % var 2019 2018 % var % var % var Net sales 164 180 (9%) (6%) 51 56 (9%) (6%) Operating EBITDA 46 58 (20%) (18%) 14 16 (15%) (13%) Operating EBITDA margin 28.3% 32.4% (4.1pp) 27.1% 29.1% (2.0pp) In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January—January—January— Third Quarter Third Quarter Third Quarter September September September Volume (5%) (7%) (43%) (36%) (38%) 79% Price (USD) (2%) (2%) 2% 6% 16% 30% Price (local currency) 1% 1% 6% 8% 22% 37% Year-over-year percentage variation. In the Rest of CLH region, which includes our operations in Nicaragua, Guatemala and El Salvador, our quarterly domestic gray cement and ready-mix volumes decreased by 7% and 36%, respectively, while our aggregates volumes increased by 79%, compared to those of the third quarter of 2018. For the first nine months of 2019, our domestic gray cement, ready-mix and aggregates volumes declined by 5%, 43%, and 38%, respectively, on a year-over-year basis. In Nicaragua, the socio-political crisis remains unsolved and continues to take a toll in economic activity, including cement demand. Most of the highway projects sponsored by the government were in final construction stages and have not been replaced by new projects. Going forward, the self-construction sector should continue supporting cement consumption in the country. In Guatemala, the second round of the presidential elections took place in August and Alejandro Giammattei became president elect. There is optimism in the country with the results of the elections, which could translate into a boost in private investment in coming months. 2019 Third Quarter Results                Page 4


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. OPERATING EBITDA, FREE CASH FLOW AND DEBT RELATED INFORMATION Operating EBITDA and free cash flow January—September Third Quarter 2019 2018 % var 2019 2018 % var Operating earnings before other expenses, net 87 131 (33%) 27 42 (34%) + Depreciation and operating amortization 59 62 17 20 Operating EBITDA 146 192 (24%) 45 62 (27%) - Net financial expense 40 44 13 14 - Capital expenditures for maintenance 30 29 13 11 - Change in working Capital (9) 10 (4) 1 - Taxes paid 35 40 12 19 - Other cash items (Net) (1) 32 2    2 - Free cash flow discontinued operations 0    1 0 (1) Free cash flow after maintenance capital exp 52 35 46% 11 16 (33%) - Strategic Capital expenditures 1    0 0 (1) Free cash flow 50 35 43% 11 17 (37%) In millions of US dollars, except percentages. Information on Debt Second Third Quarter Third Quarter Quarter 2019 2018 % var 2019 2019 2018 Total debt 1, 2 788 857 811 Currency denomination Short term 18% 24% 17% U.S. dollar 99% 99% Long term 82% 76% 83% Colombian peso 1% 1% Cash and cash equivalents 23 24 (3%) 28 Interest rate Net debt 765 834 (8%) 783    Fixed 60% 60% Net debt / EBITDA 3.8x 3.1x 3.6x Variable 40% 40% In millions of US dollars, except percentages. 1 Includes leases, in accordance with International Financial Reporting Standards (IFRS). 2 Represents the consolidated balances of CLH and subsidiaries. 2019 Third Quarter Results                Page 5


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OPERATING RESULTS Income statement & balance sheet CEMEX Latam Holdings, S.A. and Subsidiaries in thousands of U.S. Dollars, except per share amounts January—September Third Quarter l-t-l l-t-l INCOME STATEMENT 2019 2018 % var 2019 2018 % var % var % var Net sales 751,826 848,520 (11%) (5%) 244,644 276,617 (12%) (4%) Cost of sales (461,730) (501,128) 8% (148,824) (162,493) 8% Gross profit 290,096 347,392 (16%) (10%) 95,820 114,124 (16%) (9%) Operating expenses (202,969) (216,697) 6% (68,361) (72,581) 6% Operating earnings before other expenses, net 87,127 130,695 (33%) (28%) 27,459 41,543 (34%) (27%) Other expenses, net (12,337) (704) (1651%) (4,244) 5,312 n/a Operating earnings 74,790 129,991 (42%) 23,215 46,855 (50%) Financial expenses (39,598) (44,191) 10% (12,591) (14,197) 11% Other income (expenses), net (22,595) 10,002 n/a (16,708) 5,356 n/a Net income before income taxes 12,597 95,802 (87%) (6,084) 38,014 n/a Income tax (5,036) (33,296) 85% 2,502 (9,762) n/a Profit of continuing operations 7,561 62,506 (88%) (3,582) 28,252 n/a Discontinued operations 0 (9,383) 100% 0 (8,659) 0% Consolidated net income 7,561 53,123 (86%) (3,582) 19,593 n/a Non-controlling Interest Net Income 18 (186) n/a 27 (107) n/a Controlling Interest Net Income 7,579 52,937 (86%) (3,555) 19,486 n/a Operating EBITDA 146,003 192,353 (24%) (19%) 45,827 61,525 (26%) (20%) Earnings of continued operations per share 0.01 0.13 (90%) (0.01) 0.05 n/a Earnings of discontinued operations per share 0.00 (0.02) 100% 0.00 (0.02) 100% as of September 30 BALANCE SHEET 2019 2018 % var Total Assets 2,934,625 3,136,670 (6%) Cash and Temporary Investments 23,193 23,564 (2%) Trade Accounts Receivables 79,833 107,937 (26%) Other Receivables 54,383 56,064 (3%) Inventories 76,176 79,178 (4%) Assets held for sale 0 0 n/a Other Current Assets 13,708 21,213 (35%) Current Assets 247,293 287,956 (14%) Fixed Assets 1,113,189 1,235,205 (10%) Other Assets 1,574,143 1,613,509 (2%) Total Liabilities 1,412,635 1,594,452 (11%) Liabilities available for sale 0 0 n/a Other Current Liabilities 392,858 490,774 (20%) Current Liabilities 392,858 490,774 (20%) Long-Term Liabilities 1,002,663 1,091,067 (8%) Other Liabilities 17,114 12,611 36% Consolidated Stockholders’ Equity 1,521,990 1,542,218 (1%) Non-controlling Interest 5,116 5,615 (9%) Stockholders’ Equity Attributable to Controlling Interest 1,516,874 1,536,603 (1%) 2019 Third Quarter Results                Page 6


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OPERATING RESULTS Income statement & balance sheet CEMEX Latam Holdings, S.A. and Subsidiaries in millions of Colombian Pesos in nominal terms, except per share amounts January—September Third Quarter INCOME STATEMENT 2019 2018 % var 2019 2018 % var Net sales 2,456,598 2,448,660 0% 830,658 818,353 2% Cost of sales (1,508,707) (1,446,158) (4%) (505,314) (480,726) (5%) Gross profit 947,891 1,002,503 (5%) 325,344 337,627 (4%) Operating expenses (663,204) (625,342) (6%) (232,111) (214,724) (8%) Operating earnings before other expenses, net 284,687 377,161 (25%) 93,233 122,903 (24%) Other expenses, net (40,311) (2,033) >100% (14,410) 15,713 n/a Operating earnings 244,376 375,128 (35%) 78,823 138,616 (43%) Financial expenses (129,386) (127,527) (1%) (42,751) (42,001) (2%) Other income (expenses), net (73,829) 28,864 n/a (56,729) 15,844 n/a Net income before income taxes 41,161 276,465 (85%) (20,657) 112,459 n/a Income tax (16,456) (96,085) 83% 8,494 (28,877) n/a Profit of continuing operations 24,705 180,380 (86%) (12,163) 83,582 n/a Discontinued operations 0 (27,078) 100% 0 (25,619) 100% Consolidated net income 24,705 153,302 (84%) (12,163) 57,963 n/a Non-controlling Interest Net Income 60 (537) n/a 94 (316) n/a Controlling Interest Net Income 24,765 152,765 (84%) (12,069) 57,647 n/a Operating EBITDA 477,068 555,093 (14%) 155,599 182,017 (15%) Earnings of continued operations per share 44 324 (86%) (22) 150 n/a Earnings of discontinued operations per share 0 (49) (100%) 0 (46) 100% as of September 30 BALANCE SHEET 2019 2018 % var Total Assets 10,159,700 9,322,748 9% Cash and Temporary Investments 80,294 70,035 15% Trade Accounts Receivables 276,384 320,807 (14%) Other Receivables 188,276 166,632 13% Inventories 263,722 235,332 12% Assets held for sale 0 0 n/a Other Current Assets 47,455 63,051 (25%) Current Assets 856,131 855,857 0% Fixed Assets 3,853,872 3,671,250 5% Other Assets 5,449,697 4,795,641 14% Total Liabilities 4,890,556 4,738,997 3% Liabilities available for sale 0 0 n/a Other Current Liabilities 1,360,078 1,458,670 (7%) Current Liabilities 1,360,078 1,458,670 (7%) Long-Term Liabilities 3,471,231 3,242,849 7% Other Liabilities 59,247 37,478 58% Consolidated Stockholders’ Equity 5,269,144 4,583,751 15% Non-controlling Interest 17,709 16,687 6% Stockholders’ Equity Attributable to Controlling Interest 5,251,435 4,567,064 15% 2019 Third Quarter Results                Page 7


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Operating Summary per Country in thousands of U.S. dollars Operating EBITDA margin as a percentage of net sales January—September Third Quarter l-t-l l-t-l 2019 2018 % var 2019 2018 % var % var % var NET SALES Colombia 376,324 399,249 (6%) 7% 126,673 134,274 (6%) 8% Panama 143,038 169,412 (16%) (16%) 45,182 57,932 (22%) (22%) Costa Rica 80,109 111,931 (28%) (26%) 24,901 33,000 (25%) (24%) Rest of CLH 164,369 180,130 (9%) (6%) 51,195 56,128 (9%) (6%) Others and intercompany eliminations (12,014) (12,202) 2% 2% (3,307) (4,717) 30% 30% TOTAL 751,826 848,520 (11%) (5%) 244,644 276,617 (12%) (4%) GROSS PROFIT Colombia 139,944 152,524 (8%) 4% 47,985 53,248 (10%) 3% Panama 50,327 67,215 (25%) (25%) 18,364 22,167 (17%) (17%) Costa Rica 37,134 51,461 (28%) (25%) 9,491 16,455 (42%) (42%) Rest of CLH 63,021 74,571 (15%) (12%) 19,166 21,659 (12%) (9%) Others and intercompany eliminations (330) 1,621 N/A N/A 814 595 37% 37% TOTAL 290,096 347,392 (16%) (10%) 95,820 114,124 (16%) (9%) OPERATING EARNINGS BEFORE OTHER EXPENSES, NET Colombia 38,729 51,635 (25%) (15%) 13,295 19,063 (30%) (17%) Panama 25,424 40,079 (37%) (37%) 9,731 12,767 (24%) (24%) Costa Rica 20,216 33,250 (39%) (37%) 3,742 10,310 (64%) (64%) Rest of CLH 40,699 52,273 (22%) (19%) 12,061 14,372 (16%) (14%) Others and intercompany eliminations (37,941) (46,541) 18% 18% (11,370) (14,969) 24% 24% TOTAL 87,127 130,695 (33%) (28%) 27,459 41,543 (34%) (27%) OPERATING EBITDA Colombia 58,974 73,761 (20%) (10%) 19,901 26,402 (25%) (12%) Panama 38,281 52,256 (27%) (27%) 13,869 16,847 (18%) (18%) Costa Rica 23,689 36,948 (36%) (33%) 4,878 11,521 (58%) (58%) Rest of CLH 46,442 58,351 (20%) (18%) 13,861 16,311 (15%) (13%) Others and intercompany eliminations (21,383) (28,963) 26% 26% (6,682) (9,556) 30% 25% TOTAL 146,003 192,353 (24%) (19%) 45,827 61,525 (26%) (20%) OPERATING EBITDA MARGIN Colombia 15.7% 18.5% (2.8pp) 15.7% 19.7% (4.0pp) Panama 26.8% 30.8% (4.0pp) 30.7% 29.1% 1.6pp Costa Rica 29.6% 33.0% (3.4pp) 19.6% 34.9% (15.3pp) Rest of CLH 28.3% 32.4% (4.1pp) 27.1% 29.1% (2.0pp) TOTAL 19.4% 22.7% (3.3pp) 18.7% 22.2% (3.5pp) 2019 Third Quarter Results                Page 8


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Volume Summary Consolidated volume summary Cement and aggregates in thousands of metric tons Ready mix in thousands of cubic meters January—September Third Quarter 2019 2018 % var 2019 2018 % var Total cement volume 1 4,892 4,969 (2%) 1,647 1,638 1% Total domestic gray cement volume 4,392 4,366 1% 1,480 1,462 1% Total ready-mix volume 1,831 1,945 (6%) 601 658 (9%) Total aggregates volume 4,377 4,794 (9%) 1,426 1,559 (9%) 1 Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar and clinker. Per-country volume summary January—September Third Quarter Third Quarter 2019 2019 vs. 2018 2019 vs. 2018 vs. Second Quarter 2019 DOMESTIC GRAY CEMENT Colombia 11% 12% 7% Panama (14%) (22%) (9%) Costa Rica (23%) (14%) 0% Rest of CLH (5%) (7%) (9%) READY-MIX Colombia 6% 6% 6% Panama (26%) (38%) (10%) Costa Rica (26%) (42%) (28%) Rest of CLH (43%) (36%) 18% AGGREGATES Colombia 1% 2% (1%) Panama (31%) (33%) (2%) Costa Rica (5%) (27%) (16%) Rest of CLH (38%) 79% 33% 2019 Third Quarter Results                Page 9


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Price Summary Variation in U.S. dollars January—September Third Quarter Third Quarter 2019 2019 vs. 2018 2019 vs. 2018 vs. Second Quarter 2019 DOMESTIC GRAY CEMENT Colombia (9%) (8%) (2%) Panama (6%) (6%) (1%) Costa Rica (5%) (4%) (1%) Rest of CLH (2%) (2%) (2%) READY-MIX Colombia (12%) (11%) (4%) Panama (2%) 0% 5% Costa Rica 0% (4%) (5%) Rest of CLH 2% 6% 1% AGGREGATES Colombia (8%) (9%) 0% Panama (6%) (8%) 9% Costa Rica (11%) (15%) (15%) Rest of CLH 16% 30% 13% For Rest of CLH, volume-weighted average prices. Variation in local currency January—September Third Quarter Third Quarter 2019 2019 vs. 2018 2019 vs. 2018 vs. Second Quarter 2019 DOMESTIC GRAY CEMENT Colombia 3% 5% 2% Panama (6%) (6%) (1%) Costa Rica (2%) (4%) (3%) Rest of CLH 1% 1% (1%) READY-MIX Colombia (0%) 2% 0% Panama (2%) 0% 5% Costa Rica 4% (4%) (8%) Rest of CLH 6% 8% 1% AGGREGATES Colombia 5% 4% 4% Panama (6%) (8%) 9% Costa Rica (8%) (15%) (17%) Rest of CLH 22% 37% 15% For Rest of CLH, volume-weighted average prices. 2019 Third Quarter Results                Page 10


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Subsequent Event: Unconstitutionality of the Tax Reform of 2018 in Colombia On October 16, 2019, the Colombian Constitutional Court declared the unconstitutionality of the Tax Reform of 2018, with which, its provisions will be without effect as of January 1, 2020. This represents that the tax modifications which are discussed in the note 17a of the consolidated financial statements, and by virtue of which, the income tax rate would go to 32% in 2020, 31% in 2021 and 30% in 2022 and thereafter, would be without effect as of January 1, 2020. It is likely that before December 31, 2019 the Colombian Congress could approve a new reform that replaces the repealed provisions, however, if not, the decision establishes that the existing tax regime before the repealed Financing Law would enter from new effective as of January 1, 2020, which would return to an income tax rate of 33%. Considering that under IFRS the assets and liabilities for deferred income taxes are determined with the last rate of income tax enacted, which is currently 30%, if the previous 33% rate enters into force, CEMEX Colombia would have to recalculate its balances and recognize any adjustment through the equity and the income statement for the period, as appropriate.    2019 Third Quarter Results                Page 11


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IFRS 16, Leases (“IFRS 16”) Beginning January 1, 2019, IFRS 16 introduced a single lessee accounting Selected information Original model which requires a lessee to recognize, for all leases, assets for the Modified right-of-use the underlying asset against a corresponding financial Income Statement Reported liability representing the net present value of estimated lease payments (Millions of dollars) Jan-Sep 3Q Jan-Sep 3Q under the contract, allowing exemptions in case of leases with a term of less than 12 months or when the underlying asset is of low value, with Revenues 848.5 276.6    848.5 276.6 a single income statement model in which the lessee recognizes Cost of sales (502.2) (162.8) (501.1) (162.5) amortization of the right-of-use asset and interest on the lease liability. Operating expenses (217.1) (72.8) (216.7) (72.6) After concluding the inventory and measurement of its leases, CEMEX Other expenses, net (0.7) 5.3 (0.7) 5.3 Latam adopted IFRS 16 using the full retrospective approach by means Financial (expense) income and others (32.3) (8.2) (34.2) (8.8) of which it determined an opening cumulative effect in its statement of Earnings before income tax 96.2 38.2 95.8 38.0 financial position as of January 1, 2018 as follows: Income tax (33.3) (9.8) (33.3) 0.8 Earnings from continuing operations 62.8 28.4 62.5 38.9 (Millions of dollars) January 1st, 2018 Assets for the Right-of-use $ 15.7 As of September 30, 2019, and December 31, 2018, assets for the right-Deferred tax assets $ 2.8 of-use amounted to $15.9 million and $14.9 million, respectively. In addition, financial liabilities related to lease contracts amounted to $23.3 Lease financial liabilities $ (23.0) million as of September 30, 2019 and $22.3 million as of December 31, 2018 and were included within “Debt and other financial liabilities”. Deferred tax liabilities $ (0.7) Retained earnings1 $ (5.2) 1 The initial effect in retained earnings refers to a temporary difference between the straight-line amortization expense of the right-of-use asset against the amortization of the financial liability under the effective interest rate method since origination of the contracts. This difference will reverse over the remaining term of the contracts. CEMEX Latam modified the previously reported income statement for the nine-month period ended September 30, 2018 to give effect to the retrospective adoption of IFRS 16, as follows:    2019 Third Quarter Results                Page 12


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Methodology for translation and presentation of results Under IFRS, CLH reports its consolidated results in its functional INCOME STATEMENT Jan—Sep Third Quarter currency, which is the US Dollar, by translating the financial statements of foreign subsidiaries using the corresponding exchange rate at the (Millions of dollars) 2019 2018 2019 2018 reporting date for the balance sheet and the corresponding exchange Sales    —26.8                —9.1 rates at the end of each month for the income statement. Cost of sales and operating—(28.1) —(9.6) Other expenses, net—(0.1) — For the reader’s convenience, Colombian peso amounts for the consolidated entity are calculated by converting the US dollar amounts Interest expense, net and others—(0.3) —(0.2) using the closing COP/US$ exchange rate at the reporting date for Income (loss) before income tax—(1.6) —(0.6) balance sheet purposes, and the average COP/US$ exchange rate for the    —(0.3)                — Income tax corresponding period for income statement purposes. The exchange rates are provided below. Loss of discontinued operations—(1.3) —(0.6) Result in sale, withholding and Fx Per-country/region selected financial information of the income—(8.1) —(8.1) reclassification statement is presented before corporate charges and royalties which Net loss of discontinued operations—(9.4) —(8.7) are included under “other and intercompany eliminations.” Discontinued operations and assets held for sale Consolidated financial information When reference is made to consolidated financial information means On September 27, 2018, after receiving the corresponding the financial information of CLH together with its consolidated authorizations by local authorities, CEMEX Latam concluded the subsidiaries. disposal of its construction materials operations in Brazil to Votorantim Cimentos N/NE S.A., comprised of a fluvial cement distribution terminal Presentation of financial and operating information located in Manaus, Amazonas state and its operating license. The selling Individual information is provided for Colombia, Panama and Costa Rica. price was approximately US$31 million including working capital adjustments. CEMEX Latam’s operations in Brazil for the period from Countries in Rest of CLH include Nicaragua, Guatemala and El Salvador. January 1 to September 30, 2018 were reclassified and reported net of tax in the single line item “Discontinued Operations”. The following table presents condensed combined information of the income statements of CEMEX Latam discontinued operations in its operating segment in Brazil for the period from January 1 to September 30, 2018: Exchange rates January—September January—September Third Quarter 2019 EoP 2018 EoP 2019 average 2018 average 2019 average 2018 average Colombian peso 3,462.01 2,972.18 3,267.51 2,885.80 3,395.38 2,958.43 Panama balboa 1.00 1.00 1.00 1.00 1.00 1.00 Costa Rica colon 583.88 585.80 592.56 572.57 577.50 577.18 Euro 0.92 0.86 0.89 0.84 0.91 0.86 Amounts provided in units of local currency per US dollar. 2019 Third Quarter Results                Page 13


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Definition of terms Free cash flow equals operating EBITDA minus net interest expense, maintenance and strategic 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). Maintenance capital expenditures investments incurred for the purpose of ensuring CLH’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 internal policies. Net debt equals total debt minus cash and cash equivalents.    Operating EBITDA equals operating earnings before other expenses, net, plus depreciation and operating amortization. pp equals percentage points. EoP equals End of Period. Strategic capital expenditures investments incurred with the purpose of increasing CLH’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. Working capital equals operating accounts receivable (including other current assets received as payment in kind) plus historical inventories minus operating payables.    2019 Third Quarter Results                Page 14

Presentation regarding third quarter 2019 results for CEMEX Latam Holdings, S.A.

Exhibit 3

 

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RESULTS 3Q19 O c t ober 2 4 , 2 0 1 9


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Forward looking information This presentation contains forward-looking statements. In some cases, these statements can be identified by the use of forward-looking words such as “may,” “assume,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,” “plan,” “believe,” “foresee,” “predict,” “potential” “target,” “strategy,” and “intend” or other similar words. These forward-looking statements reflect CEMEX Latam Holdings, S.A.’s (“CLH”) current expectations and projection s about future events based on CLH’s knowledge of present facts and circumstances and assumptions about future events, as well as CLH´s current plants based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CLH’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 CLH or its subsidiaries, include, but are not limited to, the cyclical activity of the construction sector; CLH’s exposure to other sectors that impact CLH’s business, such as, but not limited to, the energy sector; competition; availability of raw materials and related fluctuating prices; general political, social, economic and business conditions in the markets in which CLH operates or that affects its operations and any significant economic, political or social developments in those markets, including any nationalization or privatization of any assets or operations; the regulatory environment, including environmental, tax, antitrust and acquisition-related rules and regulations; CLH’s ability to satisfy its debt obligations and CEMEX, S.A.B. de C.V.’s (“CEMEX”) 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; expected refinancing of CEMEX’s existing indebtedness; availability of short-term credit lines, which can assist us in connection with market cycles; the impact of CEMEX’s below investment grade debt rating on CLH’s and CEMEX’s cost of capital; lost of reputation of our brands; CEMEX’s ability to consummate asset sales and fully integrate newly acquired businesses; achieve cost-savings from CLH’s cost-reduction initiatives and implement CLH’s pricing initiatives for CLH’s products; the increasing reliance on information technology infrastructure for CLH’s operations, sales in general, sales 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 subject to cyber-attacks; weather conditions; changes in the economy that affect demand for consumer goods, consequently affecting demand for our products; weather conditions; trade barriers; including tariffs or import taxes and changes in existing trade policies or changes to, or withdrawals from free trade agreements; terrorist and organized criminal activities as well as geopolitical events; declarations of insolvency or bankruptcy or becoming subject to similar proceedings; natural disasters and other unforeseen events; and the other risks and uncertainties described in CLH’s public filings. Readers are urged to read these presentations and carefully consider the risks, uncertainties and other factors that affect CLH’s business. The information contained in these presentations is subject to change without notice, and CLH is not obligated to publicly update or revise forward-looking statements. Unless the context indicates otherwise, all references to pricing initiatives, price increases or decreases, refer to CLH’s prices for CLH’s products. UNLESS OTHERWISE NOTED, ALL CONSOLIDATED FIGURES ARE PRESENTED IN DOLLARS AND ARE BASED ON THE FINANCIAL STATEMENTS OF EACH COUNTRY PREPARED UNDER INTERNATIONAL FINANCIAL REPORTING STANDARDS. Copyright CEMEX Latam Holdings, S.A. and its subsidiaries. 2


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Financial Results Summary Net Sales Operating EBITDA Margin EBITDA (US$M) (US$M) (%) -11% 849 752 -12% -24% -3.3pp -3.5pp 277 245 -26% 192 . 7% 2% 22 22 . 146 62 4% 19 . . 7% 18 46 9M18 9M19 3Q18 3Q19 9M18 9M19 3Q18 3Q19 9M18 9M19 3Q18 3Q19 3    


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Consolidated Volumes andPrices 9M19 vs. 3Q19 vs. 3Q19 vs. 9M18 3Q18 2Q19 Domestic gray cement volumes during 3Q19 improved by 1% YoY Volume 1% 1% 1% Domestic gray Price (USD) -8% -9% -3% cement Price (LtL ) -1% -1% -2% Improved quarterly cement prices 1 in Colombia and Nicaragua were offset by lower prices in other Ready-mix Volume -6% -9% 2% operations, in local-currency terms concrete Price (USD) -10% -11% -3% on a year-over-year basis Price (LtL1) -1% -2% -1% Volume -9% -9% -2% The U.S.-dollar appreciated vs. the currencies of Colombia, Nicaragua Aggregates Price (USD) -7% -9% 2% and Guatemala during 3Q19 by Price (LtL1) 2% 1% 5% 15%, 5% and 2%, respectively, YoY (1) Like-to-like prices adjusted for foreign-exchange fluctuations 4    


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EBITDA Variation 9M19 -24% 192 -15 7 -23 -8 4 -10 146 EBITDA Vol Price O. Costs Dist SG&A FX EBITDA 9M18 9M19 22.7% 19.4% -3.3pp EBITDA EBITDA Margin 9M18 Margin 9M19 5    


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REGIONAL HIGHLIGHTS 3Q 1 9 R e s u l t s


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Results Highlights Colombia


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Colombia –Results Highlights 9M19 9M18 % var 3Q19 3Q18 % var We are very pleased with our Net Sales 376 399 -6% 127 134 -6% cement volume and price Financial Op. EBITDA performance during 3Q19 Summary 59 74 -20% 20 26 -25% US$ Million as % net sales 15.7% 18.5% (2.8pp) 15.7% 19.7% (4.0pp) 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Net sales increased by 8% in local- currency terms during 3Q19 YoY, Cement 11% 12% 7% due to higher volumes and prices Volume Ready mix 6% 6% 6% in our 3 core products Aggregates 1% 2% -1% 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Our EBITDA margin during 3Q19 Cement 3% 5% 2% declined by 4.0 pp, mainly due to a Price major maintenance performed to (Local Currency) Ready mix 0% 2% 0% our Ibague Kiln 1 Aggregates 5% 4% 4% 8    


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Colombia –Residencial Sector We estimate that cement-industry dispatches to the residential sector increased in the low-single digits during the 3Q19 YoY Cement volumes to the self-construction segment improved during 3Q19, driven mainly by the economic recovery In the social-housing segment, housing starts improved by 9.5% YTD August During 4Q19 we expect cement-industry volumes to the residential sector to continue increasing in the low-single digits, supported by the 9 self-construction and social-housing segments    


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Colombia –Infrastructure Sector The infrastructure sector continued its positive performance during 3Q19, increasing in the double digits We continued dispatching our products to several 4G projects; our estimated participation for cement/ready-mix in these projects reached around 40% The Bogota-Metro project was awarded last week; this project is a relevant milestone in the infrastructure development of the city that should detonate additional construction activity During 4Q19, we expect cement-industry volumes to the infrastructure 10 sector to increase in the mid-single digits    


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Colombia –Maceo Project Update As disclosed last September, “Corantioquia” approved to remove the Maceo-project land from the “Integrated Management District” This approval, as well as the agreement reached last April with the government agency “SAE”, represent relevant milestones in the process to commission the Maceo cement plant We continue to work with the relevant authorities to increase the environmental-license capacity, among other pending procedures 11    


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Results Highlights Panama


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Panama –Results Highlights 9M19 9M18 % var 3Q19 3Q18 % var Cement demand remained weak Net Sales 143 169 -16% 45 58 -22% during the quarter affected by high Financial Op. EBITDA inventories in apartments and Summary 38 52 -27% 14 17 -18% offices US$ Million as % net sales 26.8% 30.8% (4.0pp) 30.7% 29.1% 1.6pp 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Cement imports reached an Cement -14% -22% -9% estimated 8% participation during 3Q19 Volume Ready mix -26% -38% -10% Aggregates -31% -33% -2% Our EBITDA margin improved by 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 1.6 pp during 3Q19 YoY, mainly Cement -6% -6% -1% due to the optimization of our Price ready-mix business, lower energy (Local Currency) Ready mix -2% 0% 5% costs and SG&A savings Aggregates -6% -8% 9% 13    


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Panama –Sector Highlights Next year, cement volumes should be driven by infrastructure projects and by the social-housing segment In the infrastructure sector, the “Corredor de las Playas” highway and the Fourth Bridge over the canal, among other projects, should ramp-up volumes next year. Additionally, the new housing-subsidies law should improve construction activity in this sector We now expect our full year 2019 cement volumes in Panama to decline from 14% to 15% 14    


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Results Highlights Costa Rica


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Costa Rica –Results Highlights 9M19 9M18 % var 3Q19 3Q18 % var Cement demand remained weak during the quarter, affected by Net Sales 80 112 -28% 25 33 -25% Financial uncertainty related to the tax reform Summary Op. EBITDA 24 37 -36% 5 12 -58% and by the slow execution of US$ Million as % net infrastructure projects sales 29.6% 33.0% (3.4pp) 19.6% 34.9% (15.3pp) 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Cement -23% -14% 0% Our quarterly cement volume performance reflects a high base Volume Ready mix -26% -42% -28% of comparison in 3Q18 Aggregates -5% -27% -16% 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 The EBITDA margin during the quarter declined by 15.3pp, mainly Cement -2% -4% -3% due to a major maintenance Price (Local Currency) Ready mix 4% -4% -8% performed to our cement kiln Aggregates -8% -15% -17% during this period 16    


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Costa Rica –Sector Highlights We expect our cement volumes to decline from 21% to 22% during 2019 Next year, cement demand should be driven by the expected reactivation of construction activity in the private sector, and the current pipeline of infrastructure projects which has been delayed this year 17    


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Results Highlights Rest of CLH


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Rest of CLH –Results Highlights 9M19 9M18 % var 3Q19 3Q18 % var Cement volumes declined due to Net Sales 164 180 -9% 51 56 -9% lower construction activity in Financial Op. EBITDA Nicaragua Summary 46 58 -20% 14 16 -15% US$ Million as % net sales 28.3% 32.4% (4.1pp) 27.1% 29.1% (2.0pp) 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Quarterly cement prices in local- currency terms increased by 1% Cement -5% -7% -9% YoY Volume Ready mix -43% -36% 18% Aggregates -38% 79% 33% EBITDA during the quarter in local-currency terms declined by 13%, 9M19 vs. 9M18 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Cement 1% 1% -1% mainly due to lower volumes in Nicaragua and to increased Price (Local Currency) Ready mix 6% 8% 1% purchased-clinker costs in Aggregates 22% 37% 15% Guatemala 19    


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Nicaragua –Sector Highlights The socio-political crisis remains unsolved and continues to affect construction activity Our cement volumes during the quarter declined by 20% YoY. Going forward the self-construction sector should continue supporting cement consumption in the country For 2019, we expect our volumes to decline by 20%, in line with the industry 20    


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Guatemala –Sector Highlights After the 2nd round of the presidential elections held in August, Alejandro Giammattei from a center-right party resulted president elect. There is optimism in the country with the results of the elections Our quarterly cement volumes in the country remained stable YoY We are optimistic in Guatemala going forward as cement-industry volumes are expected to grow in the low-single digits, in line with the expected GDP growth 21    


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OTHER INFORMATION 3Q 1 9 R e s u l t s


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CEMEX Go update As of September, we are receiving about 77% of cement-purchase Our digital solutions are evolving to orders through CEMEX Go offer customers a superior omnichannel experience Services like the invoice administration and the electronic proof of delivery, reached adoption levels of 77% and 70%, respectively Salesforce & Online Service Agent Order Digital Stores Enablement Fulfillment Marketing CEMEX Go is improving our customer service and reducing our cost to serve, while allowing our sale force to focus more on consulting and prospecting 23    


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Free Cash Flow US$ Million 9M19 9M18 % var 3Q19 3Q18 % var Our free cash flow improved to Operating . EBIT EBITDA 146 192 -24% 45 62 -27% US$50 million YTD September - Net financial expense 40 44 13 14 - Maintenance Capex 30 29 13 11 - Change in working cap -9 10 -4 1 Financial expenses during 3Q19 were US$1.6 million lower than - Taxes paid 35 40 12 19 those of 3Q18 - Other cash items (net) -1 32 2 2 - Free cash flow 0 1 0 -1 discontinued operations Our average working capital days Free Cash Flow 52 35 46% 11 16 -33% After Maintenance Capex during 3Q19 improved to negative - Strategic Capex 1 0 0 -1 22 vs. negative 18 during 3Q18 Free Cash Flow 50 35 43% 11 17 -37% 24    


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Income Statement US$ Million 9M19 9M18 % var 3Q19 3Q18 % var Our Net Income during the quarter Net sales 752 849 -11% 245 277 -12% - Cost of sales 462 501 149 162 was a US$4 million loss Gross profit 290 347 -16% 96 114 -16% - Operating expenses 203 217 68 73 Operating earnings before other The Other-Expenses-Net line was 87 131 -33% 27 42 -34% expenses, net negative US$4 million during 3Q19. - Other expenses, net 12 1 4 -5 During 3Q18, this line benefited Operating earnings 75 130 -42% 23 47 -50% from the reversal of a US$12.5- - Financial expenses 40 44 13 14 million provision - Other income (expenses), net 23 -10 17 -5 Net income before income taxes 13 96 -6 38 - Income tax 5 33 -3 10 The Other-Income-and-Expenses- Profit of continuing operations 8 63 -4 28 Net line, was negative US$17 - Discontinued operations 0 9 0 9 million during 3Q19, mainly due to Consolidated net income 8 53 -4 20 a FX effect from the Colombian- - Non-controlling Interest 0 0 0 0 peso depreciation from June to Net Income Controlling Interest Net Income 8 53 -86% -4 19 N/A September 2019 25    


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Consolidated debt as of September 30, 2019 US$788 M total debt. US$ Million The loans due next year are mostly 456 with CEMEX S.A.B. de C.V. 308 subsidiaries, and we are comfortable with the refinancing prospects 2020 2021 2022 2023 3.8x Net Debt / EBITDA Type Currency Cost US$ M Banks COP 9.21% 6 Interest Rate Intercompany USD 6ML + 250 bps 130                Intercompany USD 6ML + 255 bps 172 Variable Intercompany USD Fixed 5.65% 456 40% Other debt (Leases) 24 Average Cost / Total USD 5.28%1 788 60% Fixed (1) Average Cost of USD denominated debt 26 The term “Intercompany” refers to debt with subsidiaries of CEMEX, S.A.B. de C.V.    


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2019 Guidance Volume YoY% Consolidated volumes: Cement: -2% to -1% Cement Ready—Mix Aggregates Ready-mix: -8% to -7% Colombia Aggregates: -9% to -8% 8% to 9% 3% to 4% 0% to 1% Cement Ready—Mix Aggregates Total CAPEX US$50 M Panama Maintenance US$45 M -15% to -14% -27% to -26% -25% to -24% Strategic US$5 M Costa Rica Cement Ready—Mix Aggregates Cash Taxes US$60 M -22% to -21% -30% to -29% -9% to -8% 27    


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Forward looking information This presentation contains forward-looking statements. In some cases, these statements can be identified by the use of forward-looking words such as “may,” “assume,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,” “plan,” “believe,” “foresee,” “predict,” “potential” “target,” “strategy,” and “intend” or other similar words. These forward-looking statements reflect CEMEX Latam Holdings, S.A.’s (“CLH”) current expectations and projection s about future events based on CLH’s knowledge of present facts and circumstances and assumptions about future events, as well as CLH´s current plants based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CLH’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 CLH or its subsidiaries, include, but are not limited to, the cyclical activity of the construction sector; CLH’s exposure to other sectors that impact CLH’s business, such as, but not limited to, the energy sector; competition; availability of raw materials and related fluctuating prices; general political, social, economic and business conditions in the markets in which CLH operates or that affects its operations and any significant economic, political or social developments in those markets, including any nationalization or privatization of any assets or operations; the regulatory environment, including environmental, tax, antitrust and acquisition-related rules and regulations; CLH’s ability to satisfy its debt obligations and CEMEX, S.A.B. de C.V.’s (“CEMEX”) 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; expected refinancing of CEMEX’s existing indebtedness; availability of short-term credit lines, which can assist us in connection with market cycles; the impact of CEMEX’s below investment grade debt rating on CLH’s and CEMEX’s cost of capital; lost of reputation of our brands; CEMEX’s ability to consummate asset sales and fully integrate newly acquired businesses; achieve cost-savings from CLH’s cost-reduction initiatives and implement CLH’s pricing initiatives for CLH’s products; the increasing reliance on information technology infrastructure for CLH’s operations, sales in general, sales 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 subject to cyber-attacks; weather conditions; changes in the economy that affect demand for consumer goods, consequently affecting demand for our products; weather conditions; trade barriers; including tariffs or import taxes and changes in existing trade policies or changes to, or withdrawals from free trade agreements; terrorist and organized criminal activities as well as geopolitical events; declarations of insolvency or bankruptcy or becoming subject to similar proceedings; natural disasters and other unforeseen events; and the other risks and uncertainties described in CLH’s public filings. Readers are urged to read these presentations and carefully consider the risks, uncertainties and other factors that affect CLH’s business. The information contained in these presentations is subject to change without notice, and CLH is not obligated to publicly update or revise forward-looking statements. Unless the context indicates otherwise, all references to pricing initiatives, price increases or decreases, refer to CLH’s prices for CLH’s products. UNLESS OTHERWISE NOTED, ALL CONSOLIDATED FIGURES ARE PRESENTED IN DOLLARS AND ARE BASED ON THE FINANCIAL STATEMENTS OF EACH COUNTRY PREPARED UNDER INTERNATIONAL FINANCIAL REPORTING STANDARDS. Copyright CEMEX Latam Holdings, S.A. and its subsidiaries. 28    


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RESULTS 3Q19 O c t ober 2 4 , 2 0 1 9


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Contact Information Investor Relations Stock Information Pablo Gutiérrez, CFA Colombian Stock Exchange Phone: +57(1) 603-9051 CLH E-mail: pabloantonio.gutierrez@cemex.com Juan Camilo Álvarez Phone: +57(1) 603-9909 E-mail: juancamilo.alvarez@cemex.com 30