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 April, 2017

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, 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   ☒     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 April 27, 2017, announcing first quarter 2017 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).
2.    First quarter 2017 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).
3.    Presentation regarding first quarter 2017 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:   

April 27, 2017

    By:            /s/ Rafael Garza
                Name:  Rafael Garza
                Title:    Chief Comptroller


EXHIBIT INDEX

 

EXHIBIT

NO.

 

DESCRIPTION

1.   Press release, dated April 27, 2017, announcing first quarter 2017 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).
2.   First quarter 2017 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).
3.   Presentation regarding first quarter 2017 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).
EX-1

Exhibit 1

 

Media Relations

Paula Andrea Escobar

+57 (1) 603-9079

paulaandrea.escobar@cemex.com

  

Investor Relations

Jesús Ortiz

+57 (1) 603-9051

jesus.ortizd@cemex.com

 

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CEMEX LATAM HOLDINGS REPORTS

FIRST QUARTER 2017 RESULTS

 

    We reached the highest quarterly EBITDA in the history of our operations in Nicaragua, and the highest EBITDA during a first quarter in our operations in Guatemala.

 

    We achieved new historic cement and ready-mix volume records in our operations in Nicaragua during the January-March period.

 

    We reached our lowest level of working capital investment during a first quarter, with minus 11 average working capital days. On a year over year basis, we were able to reduce our quarterly working capital needs by 47 million dollars.

BOGOTA, COLOMBIA. APRIL 27, 2017 – CEMEX Latam Holdings, S.A. (“CLH”) (BVC: CLH), announced today that consolidated net sales reached US$329 million during the first quarter of 2017. Consolidated net sales increased by 4% during the quarter, compared to those of the first quarter of 2016. This increase is explained mainly by higher cement volumes from our operations in Panama, Nicaragua and Guatemala.

Operating EBITDA during the first quarter of 2017 decreased by 10%, compared to that of the first quarter of 2016. This decline is mainly explained by lower cement prices from our operation in Colombia, as well as, higher maintenance costs from our operation in Costa Rica.

During the first quarter of 2017, our consolidated domestic gray cement, ready-mix and aggregates volumes increased by 4%, 3% and 2%, respectively, compared to those of the first quarter of 2016.

Jaime Muguiro, CEO of CLH, said, “Despite the significant increase in profitability in our Panama operations, the highest quarterly EBITDA in the history of our operations in Nicaragua, and the highest EBITDA during a first quarter in our operations in Guatemala, our results were negatively affected by lower volumes and prices in Colombia, and by the annual major maintenance of our kiln in Costa Rica, which we did not have last year.”

CLH’s Financial and Operational Highlights

 

    In Panama, during the first quarter our EBITDA margin increased by 4.9pp, compared to that of the first quarter of 2016. This margin expansion is mainly explained by higher volumes in our three main products, as well as, the effect of higher maintenance activities during the first quarter of last year.

 

    We achieved new historic cement and ready-mix volume records in our operations in Nicaragua during the January-March period.

 

    We achieved the highest quarterly EBITDA in the history of our operations in Nicaragua, and our highest EBITDA during a first quarter in our operations in Guatemala.

 

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    During the first quarter, our average working capital investment continued being negative. On a year over year basis, we were able to reduce our quarterly working capital needs by 47 million dollars.

 

    Free cash flow after maintenance expenditures reached US$17 million. Strategic capital expenditures were US$16 million in the first quarter of 2017, and were mainly used for our capacity expansion project in Colombia.

Jaime Muguiro added, “We continued with a disciplined working capital management during the quarter and remained at a negative level in terms of working capital investment. In fact, we reached the lowest level during a first quarter in the history of CLH. Our average working capital in days was negative 11; 13 days less than in the same period in 2016. On a year over year basis, we were able to reduce our quarterly working capital needs by 47 million dollars.”

Consolidated Corporate Results

During the first quarter of the year, controlling interest net income reached US$35 million decreasing 22% compared to that of the first quarter of 2016.

Net debt was reduced during the first quarter of 2017 to US$925 million.

Geographical Markets First Quarter 2017 Highlights

Operating EBITDA in Colombia decreased by 31% to US$38 million versus US$55 million in the first quarter of 2016, with a decline of 1% in net sales reaching US$155 million.

In Panama, operating EBITDA increased by 25% to US$ 31 million during the quarter, while EBITDA margin grew by 4.9pp on a year-over-year basis. Net sales reached US$70 million in the first quarter of 2017, an increase of 11% compared to those in the same period of 2016.

In Costa Rica, operating EBITDA reached US$12 million during the quarter, decreasing by 29% on a year-over-year basis. Net sales declined by 4% to US$37 million, compared to those of the first quarter of 2016.

In the Rest of CLH operating EBITDA increased by 23% to US$24 million during the quarter, while EBITDA margin grew by 1.7pp on a year-over-year basis. Net sales reached US$73 million in the first quarter of 2017, an increase of 17% compared to those of the same period in 2016.

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, Guatemala, and Brazil. CLH’s mission is to create sustainable value by providing industry-leading products and solutions to satisfy the construction needs of our customers in the markets where we operate.

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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

 

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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.

 

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EX-2

Exhibit 2

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2017 FIRST QUARTER RESULTS    • Stock Listing Information Colombian Stock Exchange S.A. Ticker: CLH • Investor Relations Jesús Ortiz de la Fuente +57 (1) 603-9051 E-mail: jesus.ortizd@cemex.com


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OPERATING AND FINANCIAL HIGHLIGHTS January—March First Quarter 2017 2016 % var 2017 2016 % var Consolidated cement volume 1,893 1,829 4% 1,893 1,829 4% Consolidated domestic gray cement 1,675 1,609 4% 1,675 1,609 4% Consolidated ready-mix volume 756 738 3% 756 738 3% Consolidated aggregates volume 1,764 1,735 2% 1,764 1,735 2% Net sales 329 316 4% 329 316 4% Gross profit 150 153 (1%) 150 153 (1%) as % of net sales 45.8% 48.3% (2.5pp) 45.8% 48.3% (2.5pp) Operating earnings before other expenses, net 71 83 (13%) 71 83 (13%)    as % of net sales 21.7% 26.1% (4.4pp) 21.7% 26.1% (4.4pp) Controlling interest net income (loss) 35 45 (22%) 35 45 (22%) Operating EBITDA 93 103 (10%) 93 103 (10%) as % of net sales 28.2% 32.7% (4.5pp) 28.2% 32.7% (4.5pp) Free cash flow after maintenance capital expenditures 17 57 (70%) 17 57 N/A Free cash flow 1 26 (97%) 1 26 (97%) Net debt 925 1,008 (8%) 925 1,008 (8%) Total debt 960 1,051 (9%) 960 1,051 (9%) Earnings per share 0.06 0.08 (22%) 0.06 0.08 (22%) Shares outstanding at end of period 557 556 0% 557 556 0% Employees 4,654 4,183 11% 4,654 4,183 11% 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 first quarter of 2017 increased by 4% compared to those of the first quarter of 2016. This increase in net sales is explained mainly as a result of the strong performance of our operations in Panama, Nicaragua and Guatemala.    Cost of sales as a percentage of net sales during the quarter increased by 2.5pp from 51.7% to 54.2% on a year-over-year basis.    Operating expenses as a percentage of net sales during the first quarter increased by 1.8pp from 22.2% to 24.0% compared to those of the first quarter of 2016.    Operating EBITDA during the first quarter of 2017 declined by 10% compared to that of the first quarter of 2016. This decline is mainly explained by lower cement prices in Colombia, as well as by the effect of the annual major maintenance of our kiln in Costa Rica, which we did not have last year.    Operating EBITDA margin during the first quarter of 2017 declined by 4.5pp, compared to that of the first quarter of 2016.    Controlling interest net income during the first quarter of 2017 reached US$35 million, declining 22% compared to that of the same period in 2016.    Total debt at the end of the quarter reached US$960 million.    2017 First Quarter Results Page 2


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OPERATING RESULTS    Colombia    January—March First Quarter    2017 2016 % var 2017 2016 % var Net sales 155 157 (1%) 155 157 (1%) Operating EBITDA 38 55 (31%) 38 55 (31%) Operating EBITDA margin 24.3% 34.9% (10.6pp) 24.3% 34.9% (10.6pp) In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January—March First Quarter January—March First Quarter January—March First Quarter Volume (2%) (2%) (4%) (4%) (6%) (6%) Price (USD) (10%) (10%) 11% 11% 15% 15% Price (local currency) (18%) (18%) 1% 1% 5% 5% Year-over-year percentage variation. In Colombia, during the first quarter our domestic gray cement, ready-mix and aggregates volumes declined by 2%, 4% and 6% respectively, compared to those of the first quarter of 2016. Cement consumption during the quarter was affected by the macro challenges that the country is facing. Despite the soft demand environment, we estimate that our cement market position during the quarter remained practically unchanged compared to that of the first and fourth quarter of last year. Our quarterly cement prices, on a year-over-year and sequential basis, were affected by difficult competitive dynamics and a soft demand market environment.    Panama    January—March First Quarter    2017 2016 % var 2017 2016 % var Net sales 70 63 11% 70 63 11% Operating EBITDA 31 25 25% 31 25 25% Operating EBITDA margin 44.3% 39.4% 4.9pp 44.3% 39.4% 4.9pp In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January—March First Quarter January—March First Quarter January—March First Quarter Volume 9% 9% 29% 29% 29% 29% Price (USD) 0% 0% 0% 0% 1% 1% Price (local currency) 0% 0% 0% 0% 1% 1% Year-over-year percentage variation.    In Panama during the first three months of the year our domestic gray cement, ready-mix and aggregates volumes increased by 9%, 29% and 29% respectively, compared to those of the first quarter of 2016.    Our participation in projects like Minera Panama, the second line of the Subway, the AES energy project, and the urban renovation of the city of Colon have been driving demand for our products.    Adjusted by the cement dispatches to the canal expansion project in 1Q16, on a year over year basis, our cement volumes in the first quarter grew by 13%.    2017 First Quarter Results Page 3


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OPERATING RESULTS    Costa Rica    January—March First Quarter    2017 2016 % var 2017 2016 % var Net sales 37 39 (4%) 37 39 (4%) Operating EBITDA 12 17 (29%) 12 17 (29%) Operating EBITDA margin 32.3% 43.6% (11.3pp) 32.3% 43.6% (11.3pp) In millions of US dollars, except percentages.    Domestic gray cement Ready-Mix Aggregates January—March First Quarter January—March First Quarter January—March First Quarter Volume 1% 1% (11%) (11%) (6%) (6%) Price (USD) (8%) (8%) (17%) (17%) (32%) (32%) Price (local currency) (4%) (4%) (14%) (14%) (29%) (29%) Year-over-year percentage variation. In Costa Rica, during the first quarter our domestic gray cement volumes increased by 1%, while our ready-mix, and aggregates volumes decreased by 11% and 6%, respectively, compared to those of the first quarter of 2016.    We have started to see positive signs with regards to demand for our products. Actually, March was the first month since May 2016 with national cement consumption growing on a year over year basis. Daily national cement consumption increased by 9% versus that of March last year.    Rest of CLH    January—March First Quarter    2017 2016 % var 2017 2016 % var Net sales 73 62 17% 73 62 17% Operating EBITDA 24 19 23% 24 19 23% Operating EBITDA margin 33.0% 31.3% 1.7pp 33.0% 31.3% 1.7pp In millions of US dollars, except percentages.    Domestic gray cement Ready-Mix Aggregates January—March First Quarter January—March First Quarter January—March First Quarter Volume 18% 18% 28% 28% 48% 48% Price (USD) 2% 2% (13%) (13%) (12%) (12%) Price (local currency) 1% 1% (11%) (11%) (8%) (8%) Year-over-year percentage variation. In the Rest of CLH region, which includes our operations in Nicaragua, Guatemala, El Salvador and Brazil, during the first quarter of 2017 our domestic gray cement, ready-mix and aggregates volumes increased by 18%, 28% and 48%, respectively, compared to those of the first quarter of 2016.    In Nicaragua, housing developments and infrastructure works continued to drive demand for our products. This quarter was the highest ever in terms of cement and ready-mix volumes for our operations in the country, fueled by an outstanding month of March, which also reached a new all time high in monthly cement dispatches.    With regards to Guatemala, demand dynamics during the quarter were positive, mainly as a consequence of a strong activity in the industrial and commercial sector, and a resilient private consumption backed by remittances.    2017 First Quarter Results Page 4


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. OPERATING EBITDA, FREE CASH FLOW AND DEBT RELATED INFORMATION    Operating EBITDA and free cash flow    January—March First Quarter    2017 2016 % var 2017 2016 % var Operating earnings before other expenses, net 72 83 (13%) 72 83 (13%) + Depreciation and operating amortization 21 20 21 20 Operating EBITDA 93 103 (10%) 93 103 (10%) —Net financial expense 17 15 17 15 —Capital expenditures for maintenance 10 4 10 4 —Change in working Capital 23 10 23 10 —Taxes paid 22 13 22 13 —Other cash items (Net) 4 4 4 4 Free cash flow after maintenance capital exp 17 57 (70%) 17 57 (70%) —Strategic Capital expenditures 16 31 16 31 Free cash flow 1 26 (97%) 1 26 (97%)    In millions of US dollars, except percentages.    Information on Debt    Fourth    First Quarter First Quarter    Quarter    2017 2016 % var 2016 2017 2016 Total debt 1, 2 960 1,051 983 Currency denomination Short term 2% 25% 16% U.S. dollar 98% 98% Long term 98% 75% 84% Colombian peso 2% 2% Cash and cash equivalents 35 43 (18%) 45 Interest rate Net debt 925 1,008 (8%) 938 Fixed 73% 76% Variable 27% 24% In millions of US dollars, except percentages. 1 Includes capital leases, in accordance with International Financial Reporting Standards (IFRS). 2 Represents the consolidated balances of CLH and subsidiaries. 2017 First 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—March First Quarter INCOME STATEMENT 2017 2016 % var 2017 2016 % var Net sales 328,683 315,968 4% 328,683 315,968 4% Cost of sales (178,199) (163,303) (9%) (178,199) (163,303) (9%) Gross profit 150,484 152,665 (1%) 150,484 152,665 (1%) Operating expenses (79,010) (70,122) (13%) (79,010) (70,122) (13%) Operating earnings before other expenses, net 71,474 82,543 (13%) 71,474 82,543 (13%) Other expenses, net (2,307) 115 N/A (2,307) 115 N/A Operating earnings 69,167 82,658 (16%) 69,167 82,658 (16%) Financial expenses (16,649) (14,873) (12%) (16,649) (14,873) (12%) Other income (expenses), net 4,763 6,761 (30%) 4,763 6,761 (30%) Net income before income taxes 57,281 74,546 (23%) 57,281 74,546 (23%) Income tax (21,747) (29,080) 25% (21,747) (29,080) 25% Consolidated net income 35,534 45,466 (22%) 35,534 45,466 (22%) Non-controlling Interest Net Income (114) (150) 24% (114) (150) 24% Controlling Interest Net Income 35,420 45,316 (22%) 35,420 45,316 (22%) 0 0 Operating EBITDA 92,608 103,416 (10%) 92,608 103,416 (10%) Earnings per share 0.06 0.08 (22%) 0.06 0.08 (22%)    as of March 31 BALANCE SHEET 2017 2016 % var Total Assets 3,380,890 3,281,586 3% Cash and Temporary Investments 35,184 43,279 (19%) Trade Accounts Receivables 124,859 109,899 14% Other Receivables 45,457 39,753 14% Inventories 75,107 86,583 (13%) Other Current Assets 23,147 24,049 (4%) Current Assets 303,754 303,563 0% Fixed Assets 1,275,233 1,145,106 11% Other Assets 1,801,903 1,832,917 (2%) Total Liabilities 1,856,322 1,890,395 (2%) Current Liabilities 358,111 559,122 (36%) Long-Term Liabilities 1,481,955 1,323,399 12% Other Liabilities 16,256 7,874 106% Consolidated Stockholders’ Equity 1,524,568 1,391,191 10% Non-controlling Interest 5,010 5,536 (10%) Stockholders’ Equity Attributable to Controlling Interest 1,519,558 1,385,655 10% 2017 First 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—March First Quarter INCOME STATEMENT 2017 2016 % var 2017 2016 % var Net sales 954,623 1,012,746 (6%) 954,623 1,012,746 (6%) Cost of sales (517,559) (523,422) 1% (517,559) (523,422) 1% Gross profit 437,064 489,324 (11%) 437,064 489,324 (11%) Operating expenses (229,477) (224,757) (2%) (229,477) (224,757) (2%) Operating earnings before other expenses, net 207,587 264,567 (22%) 207,587 264,567 (22%) Other expenses, net (6,698) 368 N/A (6,700) 368 N/A Operating earnings 200,889 264,935 (24%) 200,889 264,935 (24%) Financial expenses (48,356) (47,673) (1%) (48,356) (47,673) (1%) Other income (expenses), net 13,833 21,671 (36%) 13,833 21,671 (36%) Net income before income taxes 166,366 238,933 (30%) 166,366 238,933 (30%) Income tax (63,161) (93,209) 32% (63,161) (93,209) 32% Consolidated net income 103,205 145,724 (29%) 103,205 145,724 (29%) Non-controlling Interest Net Income (331) (480) 31% (331) (480) 31% Controlling Interest Net Income 102,874 145,244 (29%) 102,874 145,244 (29%) Operating EBITDA 268,971 331,471 (19%) 268,971 331,471 (19%) Earnings per share 185.40 262.01 (29%) 185.40 262.01 (29%)    as of March 31 BALANCE SHEET 2017 2016 % var Total Assets 9,737,774 9,918,102 (2%) Cash and Temporary Investments 101,339 130,806 (23%) Trade Accounts Receivables 359,623 332,154 8% Other Receivables 130,926 120,149 9% Inventories 216,326 261,684 (17%) Other Current Assets 66,668 72,681 (8%) Current Assets 874,885 917,474 (5%) Fixed Assets 3,672,976 3,460,912 6% Other Assets 5,189,913 5,539,716 (6%) Total Liabilities 5,346,654 5,713,436 (6%) Current Liabilities 1,031,446 1,689,861 (39%) Long-Term Liabilities 4,268,387 3,999,776 7% Other Liabilities 46,821 23,799 97% Consolidated Stockholders’ Equity 4,391,120 4,204,666 4% Non-controlling Interest 14,429 16,733 (14%) Stockholders’ Equity Attributable to Controlling Interest 4,376,691 4,187,933 5% 2017 First Quarter Results Page 7


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OPERATING RESULTS Operating Summary per Country in thousands of U.S. dollars Operating EBITDA margin as a percentage of net sales    January—March First Quarter    2017 2016 % var 2017 2016 % var NET SALES Colombia 155,168 156,734 (1%) 155,168 156,734 (1%) Panama 69,606 62,509 11% 69,606 62,509 11% Costa Rica 37,427 38,937 (4%) 37,427 38,937 (4%) Rest of CLH 73,028 62,346 17% 73,028 62,346 17% Others and intercompany eliminations (6,546) (4,558) (44%) (6,546) (4,558) (44%) TOTAL 328,683 315,968 4% 328,683 315,968 4% GROSS PROFIT Colombia 64,189 76,768 (16%) 64,189 76,768 (16%) Panama 34,788 27,669 26% 34,788 27,669 26% Costa Rica 16,234 20,674 (21%) 16,234 20,674 (21%) Rest of CLH 30,634 24,517 25% 30,634 24,517 25% Others and intercompany eliminations 4,639 3,037 53% 4,639 3,037 53% TOTAL 150,484 152,665 (1%) 150,484 152,665 (1%) OPERATING EARNINGS BEFORE OTHER EXPENSES, NET Colombia 30,810 48,785 (37%) 30,810 48,785 (37%) Panama 26,224 20,169 30% 26,224 20,169 30% Costa Rica 10,855 15,435 (30%) 10,855 15,435 (30%) Rest of CLH 22,735 18,095 26% 22,735 18,095 26% Others and intercompany eliminations (19,150) (19,941) 4% (19,150) (19,941) 4% TOTAL 71,474 82,543 (13%) 71,474 82,543 (13%) OPERATING EBITDA Colombia 37,660 54,746 (31%) 37,660 54,746 (31%) Panama 30,849 24,621 25% 30,849 24,621 25% Costa Rica 12,101 16,984 (29%) 12,101 16,984 (29%) Rest of CLH 24,070 19,496 23% 24,070 19,496 23% Others and intercompany eliminations (12,072) (12,431) 3% (12,072) (12,431) 3% TOTAL 92,608 103,416 (10%) 92,608 103,416 (10%) OPERATING EBITDA MARGIN Colombia 24.3% 34.9% 24.3% 34.9% Panama 44.3% 39.4% 44.3% 39.4% Costa Rica 32.3% 43.6% 32.3% 43.6% Rest of CLH 33.0% 31.3% 33.0% 31.3% TOTAL 28.2% 32.7% 28.2% 32.7%    2017 First Quarter Results Page 8


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OPERATING RESULTS Volume Summary Consolidated volume summary Cement and aggregates in thousands of metric tons Ready mix in thousands of cubic meters    January—March First Quarter    2017 2016 % var 2017 2016 % var Total cement volume 1 1,893 1,829 4% 1,893 1,829 4% Total domestic gray cement volume 1,675 1,609 4% 1,675 1,609 4% Total ready-mix volume 756 738 3% 756 738 3% Total aggregates volume 1,764 1,735 2% 1,764 1,735 2% 1 Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar and clinker. Per-country volume summary    January—March First Quarter First Quarter 2017 2017 vs. 2016 2017 vs. 2016 vs. Fourth Quarter 2016 DOMESTIC GRAY CEMENT Colombia (2%) (2%) (3%) Panama 9% 9% 26% Costa Rica 1% 1% 20% Rest of CLH 18% 18% 11% READY-MIX Colombia (4%) (4%) (2%) Panama 29% 29% 19% Costa Rica (11%) (11%) 20% Rest of CLH 28% 28% 36% AGGREGATES Colombia (6%) (6%) (5%) Panama 29% 29% 18% Costa Rica (6%) (6%) 17% Rest of CLH 48% 48% 83% 2017 First Quarter Results Page 9


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OPERATING RESULTS Price Summary Variation in U.S. dollars    January—March First Quarter First Quarter 2017 2017 vs. 2016 2017 vs. 2016 vs. Fourth Quarter 2016 DOMESTIC GRAY CEMENT Colombia (10%) (10%) 0% Panama 0% 0% 0% Costa Rica (8%) (8%) (2%) Rest of CLH 2% 2% 2% READY-MIX Colombia 11% 11% 5% Panama 0% 0% 3% Costa Rica (17%) (17%) (2%) Rest of CLH (13%) (13%) (13%) AGGREGATES Colombia 15% 15% 10% Panama 1% 1% 1% Costa Rica (32%) (32%) (24%) Rest of CLH (12%) (12%) (20%) For Rest of CLH, volume-weighted average prices. Variation in local currency    January—March First Quarter First Quarter 2017 2017 vs. 2016 2017 vs. 2016 vs. Fourth Quarter 2016 DOMESTIC GRAY CEMENT Colombia (18%) (18%) (4%) Panama 0% 0% 0% Costa Rica (4%) (4%) (1%) Rest of CLH 1% 1% (10%) READY-MIX Colombia 1% 1% 0% Panama 0% 0% 3% Costa Rica (14%) (14%) (1%) Rest of CLH (11%) (11%) (26%) AGGREGATES Colombia 5% 5% 5% Panama 1% 1% 1% Costa Rica (29%) (29%) (23%) Rest of CLH (8%) (8%) (45%) For Rest of CLH, volume-weighted average prices.    2017 First Quarter Results Page 10


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DEFINITIONS OF TERMS AND DISCLOSURES Methodology for translation and presentation of results    Under IFRS, CLH reports its consolidated results in its functional currency, which is the US Dollar, by translating the financial statements of foreign subsidiaries using the corresponding exchange rate at the reporting date for the balance sheet and the corresponding exchange rates at the end of each month for the income statement.    For the reader’s convenience, Colombian peso amounts for the consolidated entity are calculated by converting the US dollar amounts using the closing COP/US$ exchange rate at the reporting date for balance sheet purposes, and the average COP/US$ exchange rate for the corresponding period for income statement purposes. The exchange rates used to convert: (i) the balance sheet as of December 31, 2015 and December 31, 2014 was $3,149.47 and $2,392.46 Colombian pesos per US dollar, respectively, and (ii) the consolidated results for the fourth quarter of 2015 and for the fourth quarter of 2014 were $3,049.47 and $2,216.39 Colombian pesos per US dollar, respectively.    Per-country/region selected financial information of the income statement is presented before corporate charges and royalties which are included under “other and intercompany eliminations.”    Consolidated financial information    When reference is made to consolidated financial information means the financial information of CLH together with its consolidated subsidiaries.    Presentation of financial and operating information    Individual information is provided for Colombia, Panama and Costa Rica.    Countries in Rest of CLH include Nicaragua, Guatemala, El Salvador and Brazil.    Exchange rates    January—March January—March First Quarter 2017 closing 2016 closing 2017 average 2016 average 2017 average 2016 average Colombian peso 2,880.24 3,022.35 2,904.39 3,205.22 2,904.39 3,205.22 Panama balboa 1.00 1.00 1.00 1.00 1.00 1.00 Costa Rica colon 567.34 542.23 565.64 543.00 565.64 543.00 Euro 1.0661 1.0864 1.0600 1.0900 1.0600 1.0900 Amounts provided in units of local currency per US dollar.    2017 First Quarter Results Page 11


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DEFINITIONS OF TERMS AND DISCLOSURES 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. 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.    2017 First Quarter Results Page 12

EX-3

Exhibit 3

 

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RESULTS 1Q17 April 27 , 2017


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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,” “should, “ “could, “ “anticipate, “ “estimate, “ “expect, “ “plan, “ “believe,“ “predict,“ “potential“ and “intend“ or other similar words. These forward-looking statements reflect CEMEX Latam Holdings, S.A.’s (“CLH”) current expectations and projections about future events based on CLH’s knowledge of present facts and circumstances and assumptions about future events. 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 the energy sector; competition; general political, economic and business conditions in the markets in which CLH operates; 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; the impact of CEMEX’s below investment grade debt rating on CLH’s and CEMEX’s cost of capital; 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 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 subjected to cyber-attacks; weather conditions; 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) (%) Despite a 4% increase in net sales, EBITDA declined 10%, as a consequence our EBITDA margin contracted by 4.5pp    Our results were negatively affected by:    Lower prices in Colombia Major maintenance in Costa Rica We continue to focus in the variables we control    Intensify cost containment efforts Increase usage of alternative fuels Improve labor productivity Reduce costs along the supply chain Optimize our asset base 3


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|| Consolidated Volumes and Prices    1Q17 vs. 1Q17 vs.    1Q16 4Q16 Volume 4% 5% Domestic    gray Price (USD) -4% 2% cement    Price (LtL1 ) -8% -5% Volume 3% 4% Ready-mix    concrete Price (USD) 7% 4% Price (LtL1 ) 1% -4% Volume 2% 3% Aggregates Price (USD) 8% 4% Price (LtL1 ) 1% -3% (1) Like-to-like prices adjusted for foreign-exchange fluctuations    Our volumes increased in our three main products in 1Q17,    versus those of 1Q16, reflecting positive results from our operations in Central America, and more working days    Higher prices in 1Q17 in ready-mix and aggregates, on a like-to-like1 basis, compared to those of 1Q16    Our cement prices declined by 8% in 1Q17,    on a like-to-like1 basis, against those of 1Q16, mainly as a result of tougher market dynamics in Colombia    4


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|| EBITDA Variation                 -10%                6 -20                103                5 -3 -3 3 93 EBITDA Vol Price O. Costs Dist SG&A Fx EBITDA 1Q16                1Q17 32.7%                28.2%    —4.5pp                EBITDA                 EBITDA Margin                Margin 1Q16                1Q17 5


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REGIONAL HIGHLIGHTS Results 1Q17


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Results Highlights Colombia


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|| Colombia – Results Highlights    1Q17 1Q16 % var Net Sales 155 157 -1% Financial                Summary Op. EBITDA 38 55 -31% US$ Million                as % net sales 24.3% 34.9% (10.6pp)    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement -2%     -3% Volume Ready-mix -4%     -2% Aggregates -6%     -5%    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement -18%     -4% Price                (Local Currency) Ready-mix 1%    0% Aggregates 5%    5% Historic low consumer confidence level in February1 Recent indicators of economic activity suggest challenging conditions for household consumption    Our results were affected by lower cement prices during the quarter, versus those of 1Q16, as competitive dynamics deteriorated    Cost containment efforts resulted in lower fixed and variable costs; mostly explained by record efficiency levels in Ibague cement plant, optimization initiatives in ready-mix and aggregates operations, and the mothballing of Bucaramanga grinding plant    8 (1) Since the inception of this indicator


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|| Colombia – Residential Sector    Government housing programs should play a pivotal role in the economic growth of the country in 2017    Demand driven by housing subsidies should offset volume decline from high income and informal housing    The investment budget of the Housing Ministry is 18% higher than that of 2017 Funding has been approved to execute over 100k subsidies in 2017 Cement demand from residential sector in 2017 is expected to remain flat ,    versus that of 2016 9


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|| Colombia – Infrastructure Sector    According to estimates from the Ministry of Finance, infrastructure GDP could grow by 8% in 2017    We expect infrastructure works to be main cement demand driver in 2017, mainly as a consequence of: —Initial works of 4G program, specially    in 2H17 —Higher project execution by local and    regional administrations    Potential investments for US$ 1.5 B for construction works in schools and tertiary roads    We expect a 3% increase in cement demand for infrastructure sector during 2017    10


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Results Highlights Panama


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|| Panama – Results Highlights    1Q17 1Q16 % var Net Sales 70 63 11% Financial    Summary Op. EBITDA 31 25 25% US$ Million                as % net sales 44.3% 39.4% 4.9pp    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement 9% 26% Volume Ready-mix 29% 19% Aggregates 29% 18%    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement 0% 0% Price    (Local Currency) Ready-mix 0% 3% Aggregates 1% 1% Cement volumes grew by 9%, while ready-mix and aggregates volumes grew by 29%, in 1Q17 compared to those of 1Q16 In 1Q17 prices for our three main products remained practically flat on a year-over-year basis EBITDA increased by 25% in 1Q17, on a year-over-year basis, while net sales increased by 11% over 1Q16 levels EBITDA margin increased by 4.9 percentage points in 1Q17 compared to that of 1Q16; mainly from higher volumes, and a kiln maintenance in March 2016    12


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|| Panama – Sector Highlights    The government intends to reduce the existing housing deficit in the country by about 25% in the next 3 years    Infrastructure1 and residential sectors were the main drivers of cement demand in 1Q17 Potential infrastructure investments of ~US$ 10 B in pipeline for the next 5 years Our sector expectations for 2017 are: —Residential: ~3% —Infrastructure: ~10%1 —Industrial & Commercial: Flat (1) Adjusted by the effect of the Panama Canal expansion


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Results Highlights Costa Rica


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|| Costa Rica – Results Highlights                1Q17 1Q16 % var Net Sales 37 39 -4% Financial    Summary Op. EBITDA 12 17 -29% US$ Million                as % net sales 32.3% 43.6% (11.3pp)    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement 1% 20% Volume Ready-mix -11% 20% Aggregates -6% 17%    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement -4% -1% Price    (Local Currency) Ready-mix -14% -1% Aggregates -29% -23%    In March, daily national cement consumption increased by 9%,    on a year over year basis, after several periods of monthly declines    Our cement volumes increased in 1Q17, versus those of 1Q16, after five consecutive quarters of year over year declines Double digit increase in volumes in our three main products, in 1Q17, compared to those of 4Q16 EBITDA margin declined 11.3pp in 1Q17 vs.1Q16, mostly explained by maintenance works and lower prices    15


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|| Costa Rica– Sector Highlights    We have seen better prospects from residential loans and increasing building permits, revealing confidence among homebuilders    We expect cement volumes for infrastructure to grow ~13%    as the government resumes some projects in advance of the presidential elections We expect a 1% increase in cement dispatches for housing projects in 2017, on a year-over-year basis Demand of cement for industrial and commercial sector should increase 1% in 2017 driven by construction of Hotels, supermarkets, big-box retailers, and warehouses    16


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Results Highlights Rest of CLH


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|| Rest of CLH – Results Highlights    1Q17 1Q16 % var Net Sales 73 62 17% Financial                Summary Op. EBITDA 24 19 23% US$ Million                as % net sales 33.0% 31.3% 1.7pp    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement 18%    11% Volume Ready-mix 28%    36% Aggregates 48%    83%    1Q17 vs. 1Q16 1Q17 vs. 4Q16 Cement 1%     -10% Price                (Local Currency) Ready-mix -11%     -26% Aggregates -8%     -45% Cement, ready-mix and aggregates volumes increased by 18%, 28% and 48% in 1Q17, respectively, over those of 1Q16 Net sales and EBITDA grew by 17% and 23% in 1Q17, respectively, on a year-over-year basis    EBITDA Margin expansion of 1.7pp during the first quarter compared to that of 1Q16, driven by strong performance in Nicaragua and Guatemala 18


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|| Rest of CLH – Nicaragua highlights    Despite of our positive performance, we remain cautious given some perceived vulnerabilities of the country’s external accounts    All time high cement and ready-mix volumes in the quarter    Record EBITDA in 1Q17    fueled by strong construction activity in residential and infrastructure sectors Demand conditions should remain strong for the rest of the year, mostly from public works 19


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|| Rest of CLH – Guatemala highlights    Our recent investment in production and dispatching capacity should help us serve the market in a better and more efficient manner    Double digit growth in EBITDA during the past five quarters,    on a year over year basis Highest ever first quarter EBITDA mostly explained by strong demand conditions, and cost containment efforts    Residential, and industrial and commercial continue to be the main cement demand drivers, whereas demand from public works remains dull


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FREE CASH FLOW 1 Q 1 7 R e s u l t s


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|| We will continue with disciplined working capital management                Working Capital Balance                (Average Days)                2015 2016 2017 21                In 1Q17, CLH reduced its    15    quarterly average working    12    capital investment in                US$47 million1    2 2                 -1—6—14—11 1Q 2Q 3Q 4Q 1Q                2Q                3Q                 1Q                4Q    (1) Compared to that of the same period in 2016    22


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|| Free Cash Flow    US$ Million 1Q17 1Q16 % var Operating. EBITDEBITDA 93 103 (10%)—Net Financial Expense 17 15 - Maintenance Capex 10 4 —Change in Working Cap 23 10 —Taxes Paid 22 13 —Other Cash Items (net) 4 4 Free Cash Flow    Free Cash Flow 17 57 (70%) After Maintenance Capex    —Strategic Capex 16 31 Free Free Cash Cash Flow Flow 1 26 (97%)    Free cash flow after Maintenance Capex declined to US$17 M The reduction in free cash flow is mainly explained by: —Lower EBITDA from our operations —Higher Maintenance Capex from acquisition of ready-mix trucks —Variation in working capital —Higher cash taxes Net debt was reduced during 1Q17 to US$925 M 23


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GUIDANCE 1 Q 1 7 R e s u l t s


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|| 2017 Guidance    Volume YoY%    Cement Ready—Mix Aggregates Colombia    0% 1% to 3% 1% to 3% Cement Ready—Mix Aggregates Panama    4% to 6% 7% to 9% 7% to 9% Cement Ready—Mix Aggregates Costa Rica    1% to 3% 1% to 3% 0% Consolidated volumes in 2017 expected to grow: + Cement: 1% to 2% + Ready-mix: 5% to 7%    + Aggregates: 4% to 6% Maintenance and Strategic Capex in 2017 are expected to be about US$56 M and US$40 M, respectively Consolidated Cash taxes    are expected to range between US$100 M and US$110 M 25


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|| Consolidated debt maturity profile                697 US$ Million                243    21    2017 2018 2023    US $960 Million Total debt as of March 31, 2017 2.2x Net Debt/EBITDA (LTM)1 as of March 31, 2017 (1) Last twelve months to March 2017 26


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RESULTS 1Q17 April 27 , 2017