CX (Update)

Cemex S.A.B. de C.V.

Industrial/Transportation


Presented:04/09/2013
Price:$12.64
Cap:$13.80B
Current Price:$5.92
Cap:$8.95B

Presented

Date04/09/2013
Price$12.64
Market Cap$13.80B
Ent Value$32.04B
P/E RatioN/A
Book Value$0.70
Div YieldN/A
Shares O/S1,091.81M
Ave Daily Vol17,760,000
Short Int8.15%

Current

Price$5.92
Market Cap$8.95B
CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs. In addition, it provides building solutions for housing projects, pavement projects, and green building consultancy services. Further, the company trades in grey and white cement, clinker, granulated blast furnace slag, special mortars, and other products; and sells information technology solutions and services. CEMEX, S.A.B. de C.V. was founded in 1906 and is headquartered in San Pedro Garza García, Mexico.

Please note, this is an update to Long — Cemex S.A.B. de C.V. (CX), which was originally presented on 3/12/13.

Highlights

The presenter is incrementally more positive on CX, and views the company as the “single most attractive upside play in the construction materials industry.” He reviewed the background quickly, explaining that CX’s largest end-market is the US, followed by Mexico and the UK. Southern Europe remains a challenge, now down ~75%-80% from the peak, and the Rinker purchase (at the absolute peak of the market) remains an overhang on CX’s stock. However, the following points support his bullish, longer-term outlook for CX at this time:

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Idea Discussion

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