CEMEX Latam Holdings Reports Fourth-Quarter and Full-Year 2012 Results

  CEMEX Latam Holdings Reports Fourth-Quarter and Full-Year 2012 Results

  *CLH reports 44% growth in pro forma Operating EBITDA for full year 2012

Business Wire

BOGOTÁ, Colombia -- February 6, 2013

CEMEX Latam Holdings, S.A. ("CLH") (BVC: CLH), announced today that, on a pro
forma basis, consolidated net sales increased by 23% during the fourth quarter
of 2012 to US$404 million and increased 25% for the full year to approximately
US$1.6 billion versus the comparable periods in 2011. Pro forma operating
EBITDA increased by 38% during the fourth quarter of 2012 to US$141 million
and increased 44% for the full year to US$548 million versus 2011.

CLH’s Pro forma Financial and Operational Highlights

  *The increase in consolidated net sales for the quarter was due to higher
    volumes and prices in local-currency terms in most of our markets.
  *The infrastructure and residential sectors were the main drivers of demand
    in most of our markets.
  *Pro forma free cash flow after maintenance capital expenditures for the
    quarter was US$104 million. For the full-year 2012, it reached US$307
    million.
  *Pro forma operating earnings before other expenses, net, in the fourth
    quarter increased by 34%, to US$119 million, from the comparable pro forma
    period in 2011 and increased 55%, to US$480 million, for the full-year
    2012.

Carlos Jacks, CEO of CLH, said, “We are very pleased with the impressive
operating EBITDA growth and operating EBITDA margin expansion on a
like-to-like basis seen during the fourth quarter and the full year 2012.
During 2012, we achieved record cement volumes and operating EBITDA generation
in Colombia, Panama, Nicaragua and Brazil.

For 2013 we expect a solid macroeconomic outlook and favorable industry
fundamentals in our region that will translate into increased consolidated
volumes. We are well-positioned to continue capturing this growth, supported
by our customer solutions strategy for the different segments which we serve.”

Consolidated Corporate Results

During the fourth quarter of 2012, controlling interest net income was a gain
of US$88 million.

Net debt was US$1.6 billion during the quarter.

Geographical Markets Fourth Quarter 2012 Highlights

Net sales in our operations in Colombia increased 28% in the fourth quarter of
2012 to US$235 million, compared with US$183 million in the fourth quarter of
2011. Operating EBITDA increased 62% to US$106 million versus the same period
of last year.

CLH’s operations in the Panama reported net sales of US$68 million in the
fourth quarter of 2012, up 17% from the same period in 2011. Operating EBITDA
increased 21% to US$28 million during the quarter.

In Costa Rica, net sales increased 25% to US$33 million, compared with US$27
million in the fourth quarter of 2011. Operating EBITDA reached US$12 million
for the quarter, 22% higher than the same period last year.

In the Rest of CLH net sales  were US$71 million, 14% higher versus those in
the comparable period in 2011. Operating EBITDA decreased 2% to US$17 million
for the quarter versus the comparable period in 2011.

CEMEX Latam Holdings 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. CEMEX Latam Holdings aims to serve the needs of its
customers and create value for stakeholders by becoming the most efficient and
innovative building solutions company in the region.

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.

For convenience of the reader the 2012 pro forma consolidated financial
information was adjusted to reflect the additional results of the operating
subsidiaries for the first half of the year and reflect the 5% corporate
charges and royalties agreement entered into by CLH with CEMEX. The 2011 pro
forma combined financial information was adjusted to reflect (on a
like-to-like basis) the 5% corporate charges and royalties agreement entered
into by CLH with CEMEX. 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 presented on a
consolidated basis in 2012 and combined basis in 2011 based on the financial
statements of CLH’s subsidiaries 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.

Contact:

CEMEX Latam Holdings, S.A.
Jorge Pérez, +52 (81) 8888-4334
mr@cemex.com