Year

Country

1906-30Mexico

Type and Other Details

CEMEX was founded in 1906 with the opening of the Cementos
Hidalgo plant in Mexico. In 1931, it was merged with Cementos
Portland Monterrey and initiated operations with 20,000 metric
tons of annual production capacity.

1987 Mexico

CEMEX acquires Cementos Anhuac

1989 Mexico

CEMEX acquires Cementos Tolteca

1996 Columbia

Acquired 54% Interest in Cementos Diamonte

Acquired 94% Interest in Inversiones Sampler

1997 Philliphines Acquired 70% (30+40) Interest in Rizal (30% in 1997)

(40% in 1998)

1998 Philliphines Acquired 100% Interest in APO

Indonesia
Spain

Acquired 14% Interest in Semen Gresik

Sold Plant in Sevilla

1999 Egypt

Acquired 77% Interest in Assiut

Chile
Acquired 12% Interest in Bio Bio
Costa Rica Acquired Cemento del Pacifico

2000 China
Indonesia

Announced Availability of $1.175 Bn For Global Acquisitions

Increased its stake in Semen Grasik to 25%

Extra Capacity Gained

Investment In Mn USD$

Sales in Mn USD$

Pre

% Change

EBITDA
Pre

Post

4.0 Mn Tons

$1 Bn

400
300

218

6.6 Mn Tons

3.5 Mn Tons

2.3 Mn Tons

400
115
260

2.0 Mn Tons
17.0 Mn Tons
10% capacity in spain

370
34

4 Mn Tons

77

1996

1997

3365

3788

1997

1998

3788

4315

1998

1999

4315

4828

1999

2000

4828

5621

2000

2001

5621

6923

1996
13%

1087

1997
14%

1193

1998
12%

1485

1999
16%

1791

2000
23%

2030

EBITDA

% Change

At Time of M&A

Post

1997
1193

10%

Contribution to sales was USD 370 Mn.

Constituted 11% of total sales and 11% of
CEMEX total assets. *annual report '97

1998
1485

24%

1999
1791

21%

2000
2030

13%

2001
2256

11%

Gained Control of 22% of Filipino Cement Capacity

After M&A

Later renamed CEMAX, founded by Lorenzo Zambrano.

Giving the company access to Mexicos central

market.Addition of two plants. Increases its export
capabilities
CEMEX becomes one of the ten largest cement
companies in the world. Addition of seven plants

Operating Margin declined by more than 20% in

early 1998 to 3% in late 1998 due to weak demand
and topped of by price war. Accounted for 3to4% of
cemex revenues and EBITDA in 1999

Phillippines accounted 2.5% of CEMEX revenue and

1.5% of EBITDA in 1999

As of Dec 2000

% of Total Sales 1998

% of Total Sales 1999
% of total Sales 2000
Mexico
44.6
47.3
46.8
U.S.
12.4
12.2
13.4
Venezuela and Dominican Republic
11.1
13.7
11.4
Colombia
6.3
3.7
3.8
Central America and the Caribbean
6
3.6
4.2
Spain
19.6
16.6
14.7
Egypt
0.3
3
0
Philippines
2.6
2.7
0
Indonesia
0
0
0
TOTAL
100
100
100
*annual report 2000

Sales 2000

Operating Results
### ######### ############### 1997 1998 1999 2000
Sales
612 988###### 2194############ 3788 4315 4828 5621
EBITDA
175 177 324 567 700 914 719 815### 1193 1485 1791 2030
Total Assets ### 2940###### 7457############ ### ### ### ###
Total Liabilities 355 1354###### 3897############ 5535 5321 5430 8111
% Change
Sales
EBITDA
Total Assets
Total Liabilities

61%
1%
72%
###

32%
83%
17%
16%

31%
75%
12%
3%

29%
23%
94%
###

32%###
31%###
8% -2%
3% 7%

22%
13%
6%
7%

31% 13% 14% 12% 16%

33% 10% 24% 21% 13%
19% 3% 2% 13% 33%
22% -1% -4% 2% 49%

6000
5000
4000
3000
2000
1000
1988

1889

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

998

2001 2002 2003 2004 2005 2006 2007

6923 6543 7164 8149 ### ### ###
2256 1917 2108 2538 3557 4138 4512
### ### ### ### ### ### ###
8078 8983 9250 9161 ### ### ###

2008 2009 2010

20131 ### ###
4080 2657 2314
45387 ### ###
28119 ### ###

23% -5% 9% 14% 88% 19% 14%

-4% -28% -3%
11% -15% 10% 20% 40% 16% 9% -10% -35% -13%
3% -2% 1% 9% 54% 12% 66%
-9% -2% -6%
0% 11% 3% -1% 79% -7% 104%
-9% -12% -2%

25000
Sales
EBITDA

20000
15000
10000
5000

1999

2000

2001

2002

2003

2004

2005

2006

Sales
EBITDA

2005

2006

2007

2008

2009

2010