# CEMEX, S.A.B. de C.V.

> Cemex is a kiln, quarry and construction-materials system. The first commercial question is which named site can accept which qualified alternative fuel or secondary mineral feedstock under permit.

- Industry: Building & Infrastructure
- Collection: Active
- Materials: Cement, Minerals
- Evidence through: 2026-09-18
- Canonical URL: https://www.materialtransition.com/library/cemex-sab-de-cv

## Material inputs to resolve

Cement, ready-mix, aggregates and urbanization solutions

Cemex reports 2025 consolidated net sales of $16.132 billion and EBITDA of about $3.1 billion. Its public materials describe cement, ready-mix, aggregates and related services. Current public sources support the circular-kiln direction, but not a site-specific acceptance specification, permit boundary, calorific value, moisture range or offtake economics.

**$16.132B** FY2025 revenue

**$3.1B** FY2025 EBITDA, company-reported

**31%** U.S. share of 2025 external revenue

**Evidence** Site lane must be qualified plant by plant

- Limestone, clay, gypsum and other cement raw materials
- Fuels, including potential alternative fuels where permitted
- Aggregates, water, admixtures and supplementary cementitious materials

### Outputs and residuals to resolve

- Cement, ready-mix concrete, aggregates and urbanization solutions
- Kiln dust, clinker and process byproducts
- Emissions, ash, dust and residual streams require plant-level review

**First decision:** Pick one kiln or aggregate site, then qualify one input against its permit, calorific or mineral specification, emissions controls and delivered logistics cost.

## Control

Cemex, S.A.B. de C.V. controls the public operating group and reports by geographic segment.

#### U.S. weight

The U.S. represented 31% of 2025 external revenues and 45% of total assets in the 20-F.

#### Physical system

Quarries and raw-material preparation feed cement plants; cement flows into ready-mix and construction applications.

#### Evidence boundary

Alternative fuels and circular inputs are a credible lane, but the public record does not establish an open receiving site or contracted supply.

### Decision boundary

The public record supports one bounded next move: Pick one kiln or aggregate site, then qualify one input against its permit, calorific or mineral specification, emissions controls and delivered logistics cost. It does not establish a buyer, commercial approval or supply agreement.

## Material flow map

| Material or stream | Qualification gate | Process or destination | Evidence still needed |
|-|-|-|-|
| Alternative fuel | Calorific value, moisture, contaminants, permit | Cement kiln | Thermal substitution and emissions evidence |
| Secondary mineral feedstock | Chemistry, particle size, moisture, traceability | Raw meal or blend | Clinker or cement performance |
| Recycled aggregate | Gradation, contamination, local code | Aggregate and concrete use | Specified construction material |

This is a public screening map. It separates company-disclosed flows from open qualification work. It does not convert a destination into a buyer or an announced ambition into operating capacity.

## Three defensible entry lanes

#### Qualify one kiln-ready alternative fuel

Alternative fuel is a physical operating decision, not a corporate target. The lane lives or dies on calorific value, moisture, contaminants, permit and delivery cost.

**Next evidence:** Name a kiln, obtain acceptance criteria and run a controlled trial plan with emissions monitoring.

#### Match secondary minerals to a cement blend

Industrial byproducts can matter when chemistry and consistency are proven.

**Next evidence:** Compare chemistry, grind, moisture, dosage and concrete performance against the current blend.

#### Treat U.S. scale as a logistics map

The U.S. is a large operating and asset base, but geography changes the delivered economics.

**Next evidence:** Map source radius, truck or rail route, storage, preprocessing and site-level gate fees.

## Evidence register

- **Integrated Report 2025** Cemex, 2025 report filed as exhibit https://www.sec.gov/Archives/edgar/data/1076378/000119312526178703/d121629dex991.htm [1]
- **Form 20-F, FY2025** SEC EDGAR, 2025 filing https://www.sec.gov/Archives/edgar/data/1076378/000119312526177605/d120395d20f.htm [2]
- **Regenera circularity and co-processing** CEMEX, official Regenera landing page. Claims drawn from this page are company-reported. https://www.cemex.com/regenera [3]

Source hierarchy: filings and company disclosures first. The brief states what those sources support and leaves the unresolved plant, grade, permit, buyer and mass-balance questions explicit.

## Material Transition editorial interpretation

The next useful working session starts with: Pick one kiln or aggregate site, then qualify one input against its permit, calorific or mineral specification, emissions controls and delivered logistics cost.

## Sources

- [1] Integrated Report 2025 - https://www.sec.gov/Archives/edgar/data/1076378/000119312526178703/d121629dex991.htm
- [2] Form 20-F, FY2025 - https://www.sec.gov/Archives/edgar/data/1076378/000119312526177605/d120395d20f.htm
- [3] Regenera circularity and co-processing - https://www.cemex.com/regenera

From the Material Transition company brief library: https://www.materialtransition.com/library/cemex-sab-de-cv