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: December 19, 2007
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
Contents
1. Press
release, dated December 16, 2007
announcing CEMEX, S.A.B.
de C.V. (NYSE: CX) guidance for the fourth
quarter of
2007.
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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|||
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Date: December
19, 2007
|
By:
|
/s/
Ramiro Villarreal
|
|
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Name: Ramiro
Villarreal
Title: General
Counsel
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EXHIBIT
INDEX
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EXHIBIT
NO.
|
DESCRIPTION
|
|
1.
|
Press
release, dated December 16, 2007 announcing CEMEX, S.A.B. de C.V.
(NYSE:
CX) guidance for the fourth quarter of
2007.
|
Exhibit
1
|
Media
Relations
Jorge
Pérez
(52-81)
8888-4334
|
Investor
Relations
Eduardo
Rendón
(52-81)
8888-4256
|
Analyst
Relations
Ricardo
Sales
(212)
317-6008
|
CEMEX
PROVIDES GUIDANCE FOR
THE
FOURTH QUARTER OF 2007
MONTERREY,
MEXICO, December 16,
2007 - CEMEX, S.A.B.
de C.V. (NYSE: CX) announced today that it expects EBITDA for the quarter ending
December 31, 2007 to be close to US$1,100 million, an increase of about 18%
versus the same period last year, while operating income is expected to be
close
to US$650 million, 6% higher than the same period a year ago. Guidance for
operating income excludes potential adjustments due to the revaluation of
Rinker’s assets. CEMEX expects sales of about US$5.8 billion, an increase of
around 30% versus the same period a year ago. For the full year 2007, CEMEX
expects EBITDA of about US$4.6 billion, an increase of approximately 11% over
last year. Revenue is expected to be in excess of US$21.6 billion, while
operating income is expected to be close to US$3.1 billion, a growth of
approximately 18% and 5% respectively. These results include the effect of
consolidating the Rinker group starting July 1, 2007.
Rodrigo
Treviño, CEMEX’s Chief Financial Officer, said: “Our EBITDA guidance for 2007
reflects the continued weakness in the US residential sector and the upfront
costs associated with the post-merger-integration process and our global
expense-reduction initiatives. These initiatives will be important contributors
to EBITDA growth in 2008 and beyond.”
“The
strong operating performance and favorable supply-demand dynamics in most of
our
markets will more than offset the effects from the ongoing correction in the
residential sector in the United States.”
“For
2008, we expect revenues of about US$24.5 billion and EBITDA of about US$5.6
billion, which represents a 13% growth rate over proforma 2007 excluding
inflationary-accounting and exchange-rate-conversion effects. Close to half
of
the expected EBITDA growth for 2008 is expected to come from the contribution
from synergies achieved in relation to the Rinker acquisition as well as our
expense-reduction initiatives. The remainder will be organic growth, which
we
expect to be achieved in spite of zero growth in the United States and
Spain.”
“We
will continue to apply most of our free cash flow to reduce debt and remain
committed to our deleveraging commitments”.
For
the
fourth quarter, CEMEX’s domestic cement and ready-mix sales volumes in Mexico
are expected to increase by about 2% and 7%, respectively, versus the same
quarter a year ago. For the full year, cement and ready-mix volumes are expected
to increase by about 4% and 9%, respectively, versus the same period
of last year. The formal residential and infrastructure sectors continue to
be
the main drivers of demand in Mexico.
In
CEMEX’s operations in the United States, cement, ready-mix, and aggregates
volumes are expected to increase about 2%, 56%, and 180%, respectively, during
the fourth quarter, versus the same period last year. For the full year
2007, cement volumes are expected to decrease by about 7%, ready-mix volumes
are
expected to increase by about 13%, and aggregates volumes are expected to
increase by about 73% versus the same period in 2006. These results include
the
effect of the Rinker operations starting in the third quarter 2007.
On
a
like-to-like basis for the ongoing operations, cement volumes would have
decreased by about 16% for the quarter and by about 18% for the full year versus
the same periods last year. Ready-mix volumes would have decreased by about
20%,
both for the quarter and for the full year versus the same periods in 2006.
Aggregates volumes would have decreased by about 12% for the quarter and by
about 13% for the full year versus the comparable periods last
year.
The
decline in demand continues to be driven by the ongoing correction in the
residential sector. The timing and recovery of this sector continue to be
uncertain.
Cement
and ready-mix volumes for CEMEX’s operations in Spain, are expected to decrease
by about 4% and 5%, respectively, during the fourth quarter versus the
comparable period of last year. For the full year, both cement and ready-mix
volumes are expected to decrease by about 4% versus the comparable period in
2006. Continued deceleration in the residential sector and lower activity in
the
civil works sector has affected volumes during the quarter.
During
the fourth quarter and versus the comparable quarter last year, CEMEX expects
cement volumes in the United Kingdom to increase by about 4%, ready-mix volumes
are expected to increase by about 1%, and aggregates volumes are expected to
increase by about 7%. For the full year 2007, cement volumes are expected to
increase by about 10%, ready-mix volumes are expected to decrease by about
2%, following some divestments during the quarter. On a like-to-like basis,
ready-mix volumes are expected to decrease by about 1%.
Aggregates
volumes for the full year are expected to increase by about 2% versus the same
period in 2006. The volume for cementitious materials, including cement and
slag, is expected to increase by about 7% for the quarter and 13% for the full
year versus the comparable periods of last year. The main drivers of demand
in
the country have been the industrial and commercial sectors, and to a minor
extent, the infrastructure sector.
Guidance
numbers, including 2008 estimates, are calculated on the basis of market close
exchange rates as of December 14, 2007. 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, weather conditions, 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 derived from 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.