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 July, 2015
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  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 July 22, 2015, announcing second quarter 2015 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).	
 
2.	Second quarter 2015 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).	
 
3.	Presentation regarding second quarter 2015 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: July 22, 2015	 	 	 	 	 	By:	 	            /s/ Rafael Garza	
 	 	 	 	 	 	Name:	 	            Rafael Garza	
 	 	 	 	 	 	Title:	 	            Chief Comptroller	

EXHIBIT INDEX

EXHIBIT
NO.	  	DESCRIPTION	
 	 	
1.	  	Press release, dated July 22, 2015, announcing second quarter 2015 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).	
 	 	
2.	  	Second quarter 2015 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).	
 	 	
3.	  	Presentation regarding second quarter 2015 results for CEMEX Latam Holdings, S.A., an indirect subsidiary of CEMEX, S.A.B. de C.V. (NYSE:CX).	

Exhibit 1

Media Relations	  	Investor Relations	
Paula Andrea Escobar	  	Jesús Ortiz	
+57 (1) 603-9079	  	+57 (1) 603-9051	
paulaandrea.escobar@cemex.com	  	jesus.ortizd@cemex.com	

CEMEX LATAM HOLDINGS REPORTS
SECOND QUARTER 2015 RESULTS
 
 	•	 	Historic volume records in Costa Rica and Nicaragua for cement, in Colombia and Guatemala for ready mix, and in Colombia and Panama for aggregates	
 
 	•	 	In Colombia, our quarterly cement volumes and prices increased on a sequential basis	
BOGOTÁ, COLOMBIA, JULY 22, 2015 – CEMEX Latam Holdings, S.A. (“CLH”) (BVC: CLH), announced today that its consolidated net sales reached US$394 million during the second quarter of 2015, a decrease of 11% versus the second quarter of 2014. This decline is mainly explained by currency fluctuations and lower sales in our operations in Colombia. Adjusting for currency fluctuations, consolidated net sales in the first quarter increased by 7%, on a year-over-year basis.
Operating EBITDA, also adjusted for the currency fluctuations, increased by 2% during the second quarter of 2015 compared with the same period in 2014.
During the second quarter of 2015, consolidated cement volumes decreased by 3%, while ready-mix and aggregates volumes increased by 6% and 3%, respectively, compared to the same period last year.
Carlos Jacks, CEO of CLH, said, “We are pleased with the continued positive volume performance of our operations in Panama, Costa Rica and Nicaragua, where we are improving our volume guidance for the year. Additionally, our cement volumes in Colombia increased by 11% during the quarter compared with the first quarter of this year.”
CLH’s Financial and Operational Highlights
 
 	•	 	In Colombia, during the first six months of the year, cement volumes declined by 11%, while our ready-mix and aggregates volumes increased by 4% and 2%, respectively, compared with the same period a year ago. Compared with 1Q15, our cement, ready-mix and aggregates volumes increased by 11%, 8% and 6%, respectively, during 2Q15	
 
 	•	 	In Panama, our cement, ready-mix and aggregates volumes in the second quarter increased by 4%, 10% and 21%, respectively, compared with the second quarter a year ago	
 
 	•	 	In Costa Rica, our volumes for our three main products grew at double-digit rates during both the second quarter and the first half of the year, compared with the same periods of last year	
 
 	•	 	Free cash flow after maintenance capital expenditures reached US$70 million during the second quarter of 2015, an increase of 13% compared with the second quarter of 2014	
Carlos Jacks, added, “This year our priority is to continue working persistently towards improving our profitability, which has been affected by the depreciation of the Colombian peso. Additionally, we continue evolving as a company into a more customer-centric organization, offering differentiated construction solutions to our specific customer segments.”
 
1

Consolidated Corporate Results
During 2Q15, controlling interest net income reached US$39 million.
Net debt decreased by US$48 million, to US$1,077 million as of the end of the second quarter 2015.
Geographical Markets second quarter 2015 Highlights
Operating EBITDA in Colombia decreased by 23% to US$68 million versus US$88 million in the second quarter of 2014, with a decline of 24% in net sales reaching US$198 million. Adjusting for currency fluctuations, our EBITDA in Colombia grew by 2% on a year-over-year basis.
In Panama, operating EBITDA decreased by 3% to US$33 million during the quarter. Net sales reached US$79 million in the second quarter of 2015, an increase of 9% compared with the same period in 2014.
In Costa Rica, operating EBITDA reached US$20 million during the quarter, increasing by 5% compared with the same period a year ago. Net sales increased by 15% to US$46 million, on a year-over-year basis.
In the Rest of CLH region, net sales during the quarter reached US$76 million. Operating EBITDA in the quarter decreased by 7% versus the comparable period in 2014, reaching US$20 million.
CLH is a regional leader in the building solutions industry that provides high-quality products and reliable service to customers and communities in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, Guatemala, and Brazil. CLH’s mission is to encourage the development of the countries where it operates through innovative building solutions that foster well-being.
###
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

Exhibit 2

2015
SECOND 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

 
OPERATING AND FINANCIAL HIGHLIGHTS
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Consolidated cement volume
3,620
3,931
(8%)
1,880
1,964
(4%)
Consolidated domestic gray cement
3,307
3,500
(6%)
1,714
1,766
(3%)
Consolidated ready-mix volume
1,753
1,670
5%
904
851
6%
Consolidated aggregates volume
4,369
4,145
5%
2,257
2,197
3%
Net sales
748
864
(13%)
394
441
(11%)
Gross profit
356
420
(15%)
186
212
(12%)
as % of net sales
47.6%
48.6%
(1.0pp)
47.2%
48.0%
(0.8pp)
Operating earnings before other
192
236
(19%)
101
118
(14%)
expenses, net
as % of net sales
25.6%
27.3%
(1.7pp)
25.8%
26.6%
(0.8pp)
Controlling interest net income
82
121
(32%)
39
67
(42%)
Operating EBITDA
236
283
(17%)
124
142
(13%)
as % of net sales
31.6%
32.8%
(1.2pp)
31.5%
32.2%
(0.7pp)
Free cash flow after maintenance
137
142
(3%)
70
62
13%
capital expenditures
Free cash flow
66
130
(49%)
48
55
(13%)
Net debt
1,077
1,178
(9%)
1,077
1,178
(9%)
Total debt
1,136
1,237
(8%)
1,136
1,237
(8%)
Earnings per share
0.15
0.22
(32%)
0.15
0.22
(32%)
Shares outstanding at end of period
556
556
0%
556
556
0%
Employees
5,093
4,662
9%
5,093
4,662
9%
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 second quarter of 2015 declined by 11% compared to the second quarter of 2014. During the first six months of 2015 consolidated net sales decreased by 13%, compared to the same period in 2014. This decline in net sales is explained mainly as a result of foreign exchange fluctuations and the effect of lower cement volumes from our operations in Colombia.
Cost of sales as a percentage of net sales during the first six months of 2015 increased by 1.0pp from 51.4% to 52.4% on a year-over-year basis.
Operating expenses as a percentage of net sales during the first six months of 2015 increased by 0.7pp from 21.3% to 22.0% compared to the same period in 2014.
Operating EBITDA during the second quarter of 2015 declined by 13% compared to the second quarter of 2014. During the first six months of 2015 operating EBITDA decreased by 17%, compared to the same period in 2014.This decline is mainly explained by foreign exchange fluctuations and the effect of lower cement volumes from our operations in Colombia.
Operating EBITDA margin during the second quarter of 2015 declined by 0.7pp, compared to the second quarter of 2014. During the first six months of the year operating EBITDA margin declined by 1.2pp compared with the same period last year.
Controlling interest net income during the second quarter of 2015 reached US$39 million, declining by 42% compared to the second quarter of 2014. During the first six months of 2015 controlling interest net inco
me reached US$82 million, declining 32% compared to the same period in 2014.
Toal debt at the end of the second quarter of 2015 reached US$1,136 million.
2015 Second Quarter Results
Page 2

 
OPERATING RESULTS
Colombia
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Net sales
374
502
(25%)
198
260
(24%)
Operating EBITDA
128
181
(29%)
68
88
(23%)
Operating EBITDA margin
34.1%
36.0%
(1.9pp)
34.5%
34.0%
0.5pp
In millions of US dollars, except percentages.
Domestic gray cement
Ready Mix
Aggregates
January - June
Second Quarter
January - June
Second Quarter
January - June Second Quarter
Volume
(11%)
(7%)
4%
3%
2%
0%
Price (USD)
(21%)
(22%)
(19%)
(20%)
(21%)
(22%)
Price (local currency)
1%
2%
4%
4%
1%
3%
Year-over-year percentage variation.
In Colombia, during the second quarter our domestic gray cement volumes declined by 7%, while our ready-mix volumes increased by 3% and our aggregates volumes remained stable, compared to the second quarter of 2014. For the first six months of 2015, our domestic gray cement volumes decreased by 11%, while our ready-mix and aggregates volumes increased by 4% and 2%, respectively, compared to the same period in 2014. Cement volumes during the second quarter improved by 11% sequentially, reflecting a partial recovery of our market share lost in the first quarter as a result of our price increase.
Panama
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Net sales
151
149
2%
79
73
9%
Operating EBITDA
61
66
(7%)
33
34
(3%)
Operating EBITDA margin
40.7%
44.4%
(3.7pp)
41.4%
46.4%
(5.0pp)
In millions of US dollars, except percentages.
Domestic gray cement
Ready Mix
Aggregates
January - June
Second Quarter
January - June
Second Quarter
January - June Second Quarter
Volume
7%
4%
(0%)
10%
10%
21%
Price (USD)
1%
%
(3%)
(3%)
3%
7%
Price (local currency)
1% 6%
(3%)
(3%)
3%
7%
Year-over-year percentage variation.
In Panama during the second quarter our domestic gray cement, ready-mix and aggregates volumes increased by 4%, 10% and 21% respectively, compared to the second quarter of 2014. For the first half of 2015, our domestic gray cement and aggregates volumes increased by 7% and 10% respectively, while our ready-mix volumes remained stable, compared with the same period 2014.
During the quarter, the positive performance in our volumes was fueled by higher sales to the residential sector, which continued being the main driver of demand for our products, as well as a basis effect related to the constructions workers strike in the second quarter of 2014. Cement sales to the Panama Canal expansion project declined by 58% during the quarter on a year-over-year basis.
2015 Second Quarter Results
Page 3

 
OPERATING RESULTS
Costa Rica
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Net sales
89
76
18%
46
41
15%
Operating EBITDA
39
33
18%
20
19
5%
Operating EBITDA margin
43.9%
43.9%
0.0pp
42.1%
45.9%
(3.8pp)
In millions of US dollars, except percentages.
Domestic gray cement
Ready Mix
Aggregates
January - June
Second Quarter
January - June
Second Quarter
January - June Second Quarter
Volume
11%
14%
15%
20%
38%
31%
Price (USD)
5%
5%
(2%)
1%
0%
4%
Price (local currency)
4%
2%
(4%)
(2%)
(2%)
2%
Year-over-year percentage variation.
In Costa Rica, during the second quarter our domestic gray cement, ready-mix, and aggregates volumes increased by 14%, 20% and 31%, respectively, compared to the second quarter of 2014. For the first six-months of the year our domestic gray cement, ready-mix and aggregates volumes increased by 11%, 15% and 38%, respectively, compared to the same period of last year.
During the second quarter infrastructure remained as the main driver for cement demand with the ongoing construction of roads, as well as hydroelectric projects like “Chucás” and “Capulĺn”.
Rest of CLH
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Net sales
141
143
(1%)
76
73
3%
Operating EBITDA
40
40
(1%)
20
21
(7%)
Operating EBITDA margin
28.1%
28.0%
0.1pp
26.1%
28.8%
(2.7pp)
In millions of US dollars, except percentages.
Domestic gray cement
Ready Mix
Aggregates
January - June
Second Quarter
January - June
Second Quarter
January - June Second Quarter
Volume
(7%)
(6%)
21%
23%
2%
(25%)
Price (USD)
(2%)
(4%)
2%
1%
16%
20%
Price (local currency)
3%
2
4%
2%
19%
23%
Year-over-year percentage variation.
In the Rest of CLH region, which includes our operations in Nicaragua, Guatemala, El Salvador and Brazil, during the second quarter of 2015 our domestic gray cement and aggregates volumes decreased by 6% and 25%, respectively, while our ready-mix volumes increased by 23%, compared to the second quarter of 2014. During the first half of the year, our domestic gray volumes decreased by 7%, while our ready-mix and aggregates volumes increased by 21% and 2% respectively, compared to the same period of last year.
The positive performance in our cement volumes in Nicaragua was offset by weak demand conditions in the other markets. Housing and infrastructure in Nicaragua, along with industrial-and-commercial activity in Guatemala, remained the main drivers of demand for our products.
2015 Second Quarter Results
Page 4

 
OPERATING EBITDA, FREE CASH FLOW AND DEBT RELATED INFORMATION
Operating EBITDA and free cash flow
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Operating earnings before other expenses, net
192
236
(19%)
102
118
(14%)
+ Depreciation and operating amortization
45
47
23
24
Operating EBITDA
237
283
(16%)
125
142
(12%)
- Net financial expense
42
48
21
24
- Capital expenditures for maintenance
13
26
9
17
- Change in working Capital
(26)
9
(31)
2
- Taxes paid
63
59
49
38
- Other cash items (Net)
8
(0)
7
(0)
Free cash flow after maintenance capital exp
137
142
(3%)
70
62
13%
- Strategic Capital expenditures
71
12
23
7
Free cash flow
66
130
(49%)
48
55
(13%)
In millions of US dollars, except percentages.
Information on Debt
Second Quarter
First Quarter
Second Quarter
2015
2014
% var
2015
2015
2014
Total debt 1, 2
1,136
1,237
(8%)
1,188
Currency denomination
Short term
13%
21%
12%
U.S. dollar
99%
98%
Long term
87%
79%
88%
Colombian peso
1%
2%
Cash and cash equivalents
59
(59)
n/a
63
Interest rate
Net debt
1,077
1,178
(9%)
1,125
Fixed
78%
79% Variable
22%
21%
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.
2015 Second Quarter Results Page

 
OPERATING RESULTS
Income statement & balance sheet
CEMEX Latam Holdings, S.A. and Subsidiaries
in thousands of U.S. Dollars, except per share amounts
January - June
Second Quarter
INCOME STATEMENT
2015
2014
% var
2015
2014
% var
Net sales
747,600
863,955
(13%)
393,762
441,201
(11%)
Cost of sales
(391,636)
(444,151)
12%
(208,030)
(229,403)
9%
Gross profit
355,964
419,804
(15%)
185,733
211,798
(12%)
Operating expenses
(164,290)
(184,223)
11%
(84,245)
(94,283)
11%
Operating earnings before other expenses, net
191,674
235,581
(19%)
101,487
117,514
(14%)
Other expenses, net
(7,115)
519
N/A
(5,135)
743
N/A
Operating earnings
184,559
236,100
(22%)
96,352
118,257
(19%)
Financial expenses
(40,565)
(47,625)
15%
(19,976)
(23,222)
14%
Other income (expenses), net
(2,028)
(4,306)
53%
(6,731)
(5,160)
(30%)
Net income before income taxes
141,966
184,169
(23%)
69,645
89,875
(23%)
Income tax
(59,232)
(62,617)
5%
(30,875)
(23,143)
(33%)
Consolidated net income
82,734
121,552
(32%)
38,770
66,732
(42%)
Non-controlling Interest Net Income
(307)
(392)
22%
(134)
(192)
30%
Controlling Interest Net Income
82,427
121,160
(32%)
38,636
66,540
(42%)
Operating EBITDA
236,350
283,070
(17%)
123,923
142,072
(13%)
Earnings per share
0.15
0.22
(32%)
0.07
0.12
(42%)
as of June 30
BALANCE SHEET
2015
2014
% var
Total Assets
3,465,039
3,844,232
(10%)
Cash and Temporary Investments
58,683
59,303
(1%)
Trade Accounts Receivables
124,828
165,809
(25%)
Other Receivables
52,211
90,304
(42%)
Inventories
102,768
114,802
(10%)
Other Current Assets
21,843
23,913
(9%)
Current Assets
360,332
454,131
(21%)
Fixed Assets
1,117,256
1,218,121
(8%)
Other Assets
1,987,451
2,171,980
(8%)
Total Liabilities
2,034,612
2,387,169
(15%)
Current Liabilities
438,971
647,117
(32%)
Long-Term Liabilities
1,584,765
1,727,100
(8%)
Other Liabilities
10,876
12,952
(16%)
Consolidated Stockholders’ Equity
1,424,743
1,450,953
(2%)
Non-controlling Interest
5,685
6,110
(7%)
Stockholders’ Equity Attributable to Controlling Interest
1,430,427
1,457,063
(2%)
2015 Second Quarter Results Page 6

 
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 - June
Second Quarter
INCOME STATEMENT
2015
2014
% var
2015
2014
% var
Net sales
1,871,629
1,691,252
11%
985,319
841,736
17%
Cost of sales
(980,467)
(869,459)
(13%)
(520,557)
(437,927)
(19%)
Gross profit
891,163
821,794
8%
464,763
403,810
15%
Operating expenses
(411,302)
(360,616)
(14%)
(210,807)
(179,885)
(17%)
Operating earnings before other expenses, net
479,858
461,177
4%
253,952
223,924
13%
Other expenses, net
(17,812)
1,017
N/A
(12,849)
1,466
N/A
Operating earnings
462,046
462,194
(0%)
241,103
225,390
7%
Financial expenses
(101,554)
(93,234)
(9%)
(49,985)
(44,196)
(13%)
Other income (expenses), net
(5,078)
(8,427)
40%
(16,844)
(10,143)
(66%)
Net income before income taxes
355,414
360,533
(1%)
174,274
171,051
2%
Income tax
(148,288)
(122,577)
(21%)
(77,259)
(43,255)
(79%)
Consolidated net income
207,126
237,957
(13%)
97,015
127,796
(24%)
Non-controlling Interest Net Income
(768)
(768)
(0%)
(335)
(366)
8%
Controlling Interest Net Income
206,358
237,189
(13%)
96,680
127,430
(24%)
Operating EBITDA
591,705
554,141
7%
310,095
270,740
15%
Earnings per share
372.43
427.93
(13%)
174.44
229.82
(24%)
2015 Second Quarter Results Page 7
as of June 30
BALANCE SHEET
2015
2014
% var
Total Assets
8,957,507
7,231,730
24%
Cash and Temporary Investments
151,702
111,559
36%
Trade Accounts Receivables
322,693
311,919
3%
Other Receivables
134,970
169,882
(21%)
Inventories
265,666
215,964
23%
Other Current Assets
56,468
44,984
26%
Current Assets
931,499
854,309
9%
Fixed Assets
2,888,229
2,291,516
26%
Other Assets
5,137,779
4,085,905
26%
Total Liabilities
5,259,697
4,490,719
17%
Current Liabilities
1,134,788
1,217,350
(7%)
Long-Term Liabilities
4,096,793
3,249,004
26%
Other Liabilities
28,117
24,365
15%
Consolidated Stockholders’ Equity
3,683,117
2,729,518
35%
Non-controlling Interest
14,696
11,494
28%
Stockholders’ Equity Attributable to Controlling Interest
3,697,810
2,741,012
35%

 
OPERATING RESULTS
Operating Summary per Country
in thousands of U.S. dollars
Operating EBITDA margin as a percentage of net sales
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
NET SALES
Colombia
374,258
501,937
(25%)
198,012
259,543
(24%)
Panama
150,944
148,685
2%
79,029
72,569
9%
Costa Rica
89,483
75,996
18%
46,440
40,530
15%
Rest of CLH
141,341
143,227
(1%)
75,692
73,397
3%
Others and intercompany eliminations
(8,426)
(5,890)
(43%)
(5,411)
(4,838)
(12%)
TOTAL
747,600
863,955
(13%)
393,763
441,201
(11%)
GROSS PROFIT
Colombia
179,581
252,396
(29%)
94,088
124,798
(25%)
Panama
68,724
71,442
(4%)
37,089
36,173
3%
Costa Rica
49,634
40,351
23%
25,192
22,227
13%
Rest of CLH
50,922
50,218
1%
25,618
26,246
(2%)
Others and intercompany eliminations
7,104
5,397
32%
3,746
2,354
59%
TOTAL
355,964
419,804
(15%)
185,733
211,798
(12%)
OPERATING EARNINGS BEFORE OTHER EXPENSES, NET
Colombia
113,709
163,205
(30%)
61,079
78,655
(22%)
Panama
52,145
57,436
(9%)
28,289
29,294
(3%)
Costa Rica
36,029
29,868
21%
18,020
16,862
7%
Rest of CLH
37,119
37,440
(1%)
18,431
19,626
(6%)
Others and intercompany eliminations
(47,328)
(52,368)
10%
(24,332)
(26,923)
10%
TOTAL
191,674
235,581
(19%)
101,487
117,514
(14%)
OPERATING EBITDA
Colombia
127,582
180,792
(29%)
68,269
88,175
(23%)
Panama
61,382
66,011
(7%)
32,721
33,667
(3%)
Costa Rica
39,251
33,366
18%
19,572
18,618
5%
Rest of CLH
39,657
40,055
(1%)
19,733
21,165
(7%)
Others and intercompany eliminations
(31,523)
(37,153)
15%
(16,372)
(19,553)
16%
TOTAL
236,350
283,071
(17%)
123,923
142,072
(13%)
OPERATING EBITDA MARGIN
Colombia
34.1%
36.0%
34.5%
34.0%
Panama
40.7%
44.4%
41.4%
46.4%
Costa Rica
43.9%
43.9%
42.1%
45.9%
Rest of CLH
28.1%
28.0%
26.1%
28.8%
TOTAL
31.6%
32.8%
31.5%
32.2
205 Second Quarter Results Page 8

 
OPERATING RESULTS
Volume Summary
Consolidated volume summary
January - June
Second Quarter
2015
2014
% var
2015
2014
% var
Total cement volume 1
3,620
3,931
(8%)
1,880
1,964
(4%)
Total domestic gray cement volume
3,307
3,500
(6%)
1,714
1,766
(3%)
Total ready-mix volume
1,753
1,670
5%
904
851
6%
Total aggregates volume
4,369
4,145
5%
2,257
2,197
3%
1 Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar and clinker.
Cement and aggregates in thousands of metric tons Ready mix in thousands of cubic meters
Per-country volume summary
January - June
Second Quarter
Second Quarter 2015
2015 vs. 2014
2015 vs. 2014
vs. First Quarter 2015
DOMESTIC GRAY CEMENT
Colombia
(11%)
(7%)
11%
Panama
7%
4%
2%
Costa Rica
11%
14%
6%
Rest of CLH
(7%)
(6%)
5%
READY MIX
Colombia
4%
3%
8%
Panama
(0%)
10%
(0%)
Costa Rica
15%
20%
21%
Rest of CLH
21%
23%
3%
AGGREGATES
Colombia
2%
0%
6%
Panama
10%
21%
10%
Costa Rica
38%
31%
10%
Rest of CLH
2%
(25%)
1%
2015 Second Quarter Results Page 9

 
OPERATING RESULTS
Price Summary
Variation in U.S. dollars
January - June
Second Quarter
Second Quarter 2015
2015 vs. 2014
2015 vs. 2014
vs. First Quarter 2015
DOMESTIC GRAY CEMENT
Colombia
(21%)
(22%)
2%
Panama
1%
6%
4%
Costa Rica
5%
5%
(2%)
Rest of CLH
(2%)
(4%)
(1%)
READY MIX
Colombia
(19%)
(20%)
1%
Panama
(3%)
(3%)
(3%)
Costa Rica
(2%)
1%
4%
Rest of CLH
2%
1%
1%
AGGREGATES
Colombia
(21%)
(22%)
6%
Panama
3%
7%
4%
Costa Rica
0%
4%
6%
Rest of CLH
16%
20%
(6%)
For Rest of CLH, volume-weighted average prices.
January - June
Second Quarter
Second Quarter 2015
2015 vs. 2014
2015 vs. 2014
vs. First Quarter 2015
DOMESTIC GRAY CEMENT
Colombia
1%
2%
1%
Panama
1%
6%
4%
Costa Rica
4%
2%
(2%)
Rest of CLH
3%
2%
(0%)
READY MIX
Colombia
4%
4%
1%
Panama
(3%)
(3%)
(3%)
Costa Rica
(4%)
(2%)
4%
Rest of CLH
4%
2%
0%
AGGREGATES
Colombia
1%
3%
6%
Panama
3%
7%
4%
Costa Rica
(2%)
2%
6%
Rest of CLH
19%
23%
(6%)
For Rest of CLH, volume-weighted average prices.
Variation in local currency
2015 Second Quarter Results Page 10

 
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 June 30, 2015 and June 30, 2014 was $2,585.11 and $1,881.19 Colombian pesos per US dollar, respectively, and (ii) the consolidated results for the second quarter of 2015 and for the second quarter of 2014 were $2,502.32 and $1,905.66 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
Exchange rates
January - June
January - June
Second Quarter
2015 closing
2014 closing
2015 average
2014 average
2015 average
2014 average
Colombian peso
2,585.11
1,881.19
2,503.52
1,957.57
2,502.32
1,905.66
Panama balboa
1.00
1.00
1.00
1.00
1.00
1.00
Costa Rica colon
540.97
548.66
540.71
548.58
540.51
554.90
Euro
1.1145
0.7302
1.1080
0.7304
1.1100
0.7297
Amounts provided in units of local currency per US dollar.
Individual information is provided for Colombia, Panama and Costa Rica.
Countries in Rest of CLH include Nicaragua, Guatemala, El Salvador and Brazil.
2015 Second Quarter Results Page 11

 
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.
2015 Second Quarter Results Page 12

Exhibit 3

 
RESULTS 2Q15
July 22 , 2015

 	

|| Forward looking information
This presentation contains certain forward-looking statements and information relating to CEMEX Latam Holdings, S.A. and its subsidiaries (collectively, “CLH”) that are based on its knowledge of present facts, expectations and projections, circumstances and assumptions about future events. Many factors could cause the actual results, performance or achievements of CLH to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic, political, governmental, and business conditions globally and in the countries in which CLH and CEMEX, S.A.B. de C.V. and its subsidiaries (“CEMEX”) operate, CLH’s ability to comply with the framework agreement signed with CEMEX, CEMEX’s ability to comply with the terms and obligations of the facilities agreement entered into with major creditors and other debt agreements, CLH and CEMEX’s ability to achieve anticipated cost savings, changes in interest rates, changes in inflation rates, changes in exchange rates, the cyclical activity of the construction sector generally, changes in cement demand and prices, CLH and CEMEX’s ability to benefit from government economic stimulus plans, changes in raw material and energy prices, changes in business strategy, changes in the prevailing regulatory framework, natural disasters and other unforeseen events and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or targeted. Forward-looking statements are made as of the date hereof, and CLH does not intend, nor is it obligated, to update these forward-looking statements, whether as a result of new information, future events or otherwise.
Unless the context otherwise requires it, all references to prices in this document means our prices for our 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	 	 	

 	

|| Financial Results Summary
Net Sales Operating EBITDA
(US$M)(US$M)
-13% -11% -17% -13%
864 441 283 142
394
748 124
236
6M15
6M14 2Q14 2Q15 6M14 6M15 2Q14 2Q15
[Graphic Appears Here]
Record sales in Costa Rica and Nicaragua
were offset by lower sales in our Colombian operations
Net sales increased in 2Q15
by 11% vs 1Q15. Adjusting for FX fluctuations net sales grew by 7% on a year-over-year basis
EBITDA grew in 2Q15
compared with 1Q15 by 10%. Adjusting for FX fluctuations, EBITDA in 2Q15 increased by 2% versus the same period last year
3

 	

|| Financial Results Summary
Operating EBITDA Margin
(%)
Sequential margin
improvement
in Colombia and Panama by 0.8pp
and 1.5pp, respectively, from 1Q15
-1.2pp -0.7pp to 2Q15
. 8% 2%
. 5%
32 6% 32 31 . Consolidated margin
31 . declined
by 0.7pp during 2Q15 and by 1.2pp
during 1H15 compared with same
periods last year
6M14 6M15 2Q14 2Q15
4

 	

|| Consolidated Volumes and Prices
6M15 vs. 2Q15 vs. 2Q15 vs.
6M14 2Q14 1Q15
Volume(6%)(3%) 8%
Domestic
gray Price (USD)(12%)(12%) 1%
cement
Price (LtL1 ) 1% 2% 4%
Volume 5% 6% 7%
Ready-mix
concrete Price (USD)(14%)(15%) 0%
Price (LtL1 ) 2% 3% 4%
Volume 5% 3% 7%
Aggregates Price (USD)(15%)(14%) 5%
Price (LtL1 ) 2% 4% 9%
(1) Like-to-like prices adjusted for foreign-exchange fluctuations
[Graphic Appears Here]
Cement volumes grew
by 8% from 1Q15 to 2Q15
Historic first-half volume records
Cement: Nicaragua and Costa Rica Ready-mix: Colombia and Guatemala Aggregates: Colombia and Panamá
Both our ready-mix and aggregates volumes grew
by 5% during the first half of the year
Higher prices in 2Q15
in local-currency terms in our three main products compared to 2Q14
5

 	

|| Reinforcement of our Customer Centric strategy
Distribution Channel
Builders • Construrama
• Distributors
• Retailers
• Big-box retailers
Industrials
Distribution Customer & New
Channel Businesses
Industrials & new
businesses
Public Sector • Construction
& influencers & demolition residues
• Admixtures
• Mortars
• Aggregates trading
• Industrial customers
Builders
Housing
Infrastructure
Industrial & Commercial
Ready-mix operations
Public Sector & influencers
National Government
Regional Government
Public Institutions
Project designers & developers
6

 	

REGIONAL HIGHLIGHTS
Results 2Q15

 	

Results Highlights Colombia

 	

|| Colombia – Results Highlights
6M15 6M14% var 2Q15 2Q14% var
Net Sales 374 502(25%) 198 260(24%)
Financial
Summary Op. EBITDA 128 181(29%) 68 88(23%)
US$ Million as % net
sales 34.1% 36.0%(1.9pp) 34.5% 34.0% 0.5pp
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement(11%)(7%) 11%
Volume Ready-mix 4% 3% 8%
Aggregates 2% 0% 6%
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement 1% 2% 1%
Price
(Local Currency) Ready-mix 4% 4% 1%
Aggregates 1% 3% 6%
[Graphic Appears Here]
Improvement in profitability
will continue being our main strategic focus in the upcoming quarters
COP has devalued 31%
against 2Q14, with peak levels close to 50% during the past 12 months
Higher prices in 2Q15
in local currency terms, year-over-year and sequentially
Partial market share recovery from 1Q15 levels.
Cement volumes in 2Q15 grew by 11% sequentially
9

 	

|| Colombia— Energy Strategy
[Graphic Appears Here]
On the right path to reach 80% self-
generation of our electricity needs.
After a year of launching our initiative, and after six
months of participating in the energy market, the
percentage of self-generated electricity increased by 9pp
Ongoing projects in three plants
with the objective of advancing towards our target
Close to US $1.2M in additional savings
during the past six months
10

 	

|| Colombia— New stimulus plan for production and
employment (“PIPE 2.0”)
[Graphic Appears Here]
Budget adjustments of US $6.2B Initiatives to speed up
in investments to be executed over the next 4 years construction of 139K homes
50K subsidies to middle income housing
30K additional subsidies for “Mi casa Ya
US $1.6B of unused royalties 59K rural homes expected during 2015
from previous periods will be released
to partially fund the plan
US $1.8B to build 31K
classrooms
over the next 4 years
US $1.5B for 55 road projects
through public works in national and
regional highways
11

 	

|| Colombia – Government housing initiatives 2014-2018
[Graphic Appears Here]
90% of the 86K VIPAs(1) awarded Reallocation of funds to have
but construction continues at a slower pace higher multiplicative effect
specially through “Mi Casa Ya” and
interest rates subsidy
Additional free-homes expected to be awarded after the elections
in October this year
We expect to participate in
close to 5K homes during 2015
through our housing solutions business
12

 	

(1) Social Housing for Savers
|| Colombia – 4G
17 projects for US $8 B have
been awarded
in the first two waves of the 4G
Delays could be expected
0.5pp due to environmental permits
pending for some first-wave projects
of incremental*
contribution to GDP Additional 7 projects for
growth could come from US $3 B have been approved
the 4G program to by means of privately proposed PPPs.
compensate for current This number could increase significantly
account deficit
Current Concessions Uncertainty remains
New Concessions
with regards to execution and timing
Awarded Concessions for the third wave
Source: “Marco Fiscal de CLH’s Cement Plants
Mediano Plazo 2015” MHCP. & Grinding Mills
Colombian Chamber of Pending to be awarded 13
Infrastructure (CCI)

 	

Results Highlights Panama

 	

|| Panama – Results Highlights
6M15 6M14% var 2Q15 2Q14% var
Net Sales 151 149 2% 79 73 9%
Financial
Summary Op. EBITDA 61 66(7%) 33 34(3%)
US$ Million as % net
sales 40.7% 44.4% (3.7pp) 41.4% 46.4%(5.0pp)
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement 7% 4% 2%
Volume Ready-mix(0%) 10%(0%)
Aggregates 10% 21% 10%
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement 1% 6% 4%
Price
(Local Currency) Ready-mix(3%)(3%)(3%)
Aggregates 3% 7% 4%
[Graphic Appears Here]
Net Sales increased in 1H15 and 2Q15
by 2% and 9%, respectively, compared with same periods last year.
Our volumes grew
in our three main products in 2Q15 on a year-over-year basis
Price increase in cement
reflects a mix effect from lower sales to the Canal expansion project
Maintenance to both kilns
during 1Q15 and 2Q15 affected
margins negatively
15

 	

|| Panama – Sector Highlights
The residential sector remained the main driver
for demand of our products during 2Q15 5-year, US $11B public
investment plan includes
Subway expansion: US $3B
Interstate highways: US $3B
Water Management: US $3.6B
Sales of our products grew
to the residential and industrial and
commercial sectors in 2Q15
We expect infrastructure
volumes to grow (1)
2nd subway line, and urban renovation of
Colon could start construction in 2H15.
We expect
that construction activity will remain
strong in the medium to long term
(1) Adjusting for the Canal Project effect 16

 	

Results Highlights Costa Rica

 	

|| Costa Rica – Results Highlights
6M15 6M14% var 2Q15 2Q14% var
Net Sales 89 76 18% 46 41 15%
Financial
Summary Op. EBITDA 39 33 18% 20 19 5%
US$ Million as % net
sales 43.9% 43.9% 0.0pp 42.1% 45.9%(3.8pp)
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement 11% 14% 6%
Volume Ready-mix 15% 20% 21%
Aggregates 38% 31% 10%
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement 4% 2%(2%)
Price
(Local Currency) Ready-mix(4%)(2%) 4%
Aggregates(2%) 2% 6%
[Graphic Appears Here]
Record net sales and cement volumes
driven mainly by infrastructure projects
Double digit growth in volumes for our three main products
year-over-year in 2Q15 and 1H15
Double digit growth in EBITDA
during the first half of the year, compared with same period in 2014
18

 	

|| Costa Rica– Sector Highlights
[Graphic Appears Here]
Infrastructure remained the main driver
for cement demand in 2Q15
US $2.4B for infrastructure
during the period 2015-2018:
Fast train project: US $700 M
2nd APM Terminal: US $462 M
Highway maintenance: US $344 M
Rural road maintenance: US $316 M
“Ciudad Gobierno” : US $176 M
Highways: US $394 M
Overpasses: US $60 M
Positive effect in volumes
due to ongoing constructions of roads
and hydroelectric dams
We are confident on the
medium-term outlook.
Main projects of “Plan Nacional de
Desarrollo” expected in 2016-2017
19

 	

Results Highlights Rest of CLH

 	

|| Rest of CLH – Results Highlights
6M15 6M14% var 2Q15 2Q14% var
Net Sales 141 143(1%) 76 73 3%
Financial
Summary Op. EBITDA 40 40(1%) 20 21(7%)
US$ Million as % net
sales 28.1% 28.0% 0.1pp 26.1% 28.8%(2.7pp)
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement(7%)(6%) 5%
Volume Ready-mix 21% 23% 3%
Aggregates 2%(25%) 1%
6M15 vs. 6M14 2Q15 vs. 2Q14 2Q15 vs. 1Q15
Cement 3% 2%(0%)
Price
(Local Currency) Ready-mix 4% 2% 0%
Aggregates 19% 23%(6%)
[Graphic Appears Here]
Cement volume record
in 1H15 in Nicaragua. These higher volumes were offset by weak demand conditions in other markets
Double digit growth in net sales
for the fifth consecutive quarter in Nicaragua, on a year-over-year basis
Continued positive trend
in ready-mix volumes in Guatemala, reaching new historic volume records during 1H15
Higher prices for our three
main products
during 1H15 and 2Q15, compared with the same periods in 2014
21

 	

|| Rest of CLH – Sector Highlights
In Guatemala, the industrial-and-commercial sector remained as the main driver during 2Q15
[Graphic Appears Here]
Volume growth in Nicaragua
is explained mainly by increased consumption from the infrastructure and residential sectors
Positive effect related to
“Calles para el pueblo”
with which we supplied 4 municipalities in Nicaragua
Volumes in Nicaragua expected to remain strong
with continued high levels of public and private investments
22

 	

FREE CASH FLOW
2Q15 Results

 	

|| Free Cash Flow
US$ Million 6M15 6M14% var 2Q15 2Q14% var
Operating. EBITDEBITDA 237 283(16%) 125 142(12%)
- Net Financial Expense 42 48 21 24
—Maintenance Capex 13 26 9 17
—Change in Working Cap(26) 9(31) 2
—Taxes Paid 63 59 49 38
—Other Cash Items (net) 8(0) 7(0)
Free Cash Flow
Free Cash Flow 137 142(3%) 70 62 13%
After Maintenance Capex
—Strategic Capex 71 12 23 7
FreeFreeCashCash FlowFlow 66 130(49%) 48 55(13%)
[Graphic Appears Here]
FCF before strategic Capex increased
by 13% in 2Q15 vs. 2Q14
Reversal in our working capital investment
of US$31MM during 2Q15, reflecting our working capital initiatives
Reduced net debt
by about US$48 million during 2Q15 to US$1,077 million
24

 	

GUIDANCE
2Q15 Results

 	

|| 2015 Guidance
Volume YoY%
On a consolidated basis
we expect our cement, ready-mix
Cement Ready—Mix Aggregates and aggregates volumes to increase
Colombia Flat to slightly Mid single digit High single digit by 1%, 7% and 10%, respectively
negative growth growth during 2015
Maintenance capex
Cement Ready—Mix Aggregates is expected to be about US $45 MM
Panama in 2015
(3%) 4% 8%
Strategic capex
is expected to reach US $190 MM
in 2015
Cement Ready—Mix Aggregates
Costa Rica
3% 10% 15% Consolidated Cash taxes
are expected to range between
US $120 MM and US $140 MM
26

 	

APPENDIX
2Q15 Results

 	

|| Consolidated debt maturity profile
US $1,136 Million
Total debt as of June 30, 2015
US$ Million
669
254
142
71
2015 2016 2017 2018
28