Exhibit 2

2018 First Quarter Results
Stock listing information
Colombian stock exchange S.A.
Ticker:clh
INvestor Relations
Pablo Gutierrez
+57(1) 603-9051
E-mail: pabloantonio.gutierrez@cemex.com

2018 First Quarter Results Page 2 OPERATING AND FINANCIAL HIGHLIGHTS 20182017% var20182017% varConsolidated cement volume 1,7601,893 (7%)1,7601,893 (7%)Consolidated domestic gray cement 1,5291,675 (9%)1,5291,675 (9%)Consolidated ready-mix volume 670756 (11%)670756 (11%)Consolidated aggregates volume1,6771,764 (5%)1,6771,764 (5%)Net sales301329 (8%)301329 (8%)Gross profit125150 (17%)125150 (17%) as % of net sales41.5%45.8% (4.3pp)41.5%45.8% (4.3pp)Operating earnings before other expenses, net4671 (36%)4671 (36%) as % of net sales15.1%21.7% (6.6pp)15.1%21.7% (6.6pp)Controlling interest net income (loss)3035 (15%)3035 (15%)Operating EBITDA6693 (29%)6693 (29%) as % of net sales21.9%28.2% (6.3pp)21.9%28.2% (6.3pp)Free cash flow after maintenance capital expenditures-3017N/A-3017N/AFree cash flow-311N/A-311N/ANet debt 903925 (2%)903925 (2%)Total debt935960 (3%)935960 (3%)Earnings per share0.05 0.06 (15%)0.05 0.06 (15%)Shares outstanding at end of period5575570%5575570%Employees4,2864,654 (8%)4,2864,654 (8%) In millions of US dollars, except volumes, percentages, employees, and per-share amounts. Shares outstanding are presented in millions. Cement and aggregates volumes in thousands of metric tons. Ready-mix volumes in thousands of cubic meters.January—MarchFirst Quarter
Consolidated net sales during the first quarter of 2018 declined by 8% compared to those of the first quarter 2017. The decline in net sales on a year over year basis was mainly due to lower volumes in Colombia and Panama, as well as lower cement prices in Colombia. Cost of sales as a percentage of net sales during the quarter increased by 4.3pp from 54.2% to 58.5% on a year-over-year basis. Operating expenses as a percentage of net sales during the first quarter increased by 2.4pp from 24.0% to 26.4% compared to that of the same period in 2017. Operating EBITDA during the first quarter of 2018 declined by 29% compared to that of the first quarter of 2017. The decline is mainly due to weak volumes in Colombia and Panama, a difficult comparison base for prices in Colombia, as well as a negative product-mix effect and a major kiln maintenance in Panama. Operating EBITDA margin during the first quarter of 2018 declined by 6.3pp, compared to that of the first quarter of 2017. Controlling interest net income during the first quarter of 2018 reached US$30 million compared to US$35 million in the same period of 2017. Total debt at the end of the quarter reached US$935 million.

2018 First Quarter Results Page 3 OPERATING RESULTS Colombia 20182017% var20182017% varNet sales136155 (12%)136155 (12%)Operating EBITDA 2538 (34%)2538 (34%)Operating EBITDA margin18.2%24.3% (6.1pp)18.2%24.3% (6.1pp)January—MarchFirst QuarterIn millions of US dollars, except percentages. January—MarchFirst QuarterJanuary—MarchFirst QuarterJanuary—MarchFirst QuarterVolume (11%) (11%) (16%) (16%) (16%) (16%)Price (USD) (2%) (2%)2%2% (1%) (1%)Price (local currency) (5%) (5%) (1%) (1%) (4%) (4%)Year-over-year percentage variation.Domestic gray cementReady-MixAggregates In Colombia, during the first quarter 2018 our domestic gray cement, ready-mix and aggregates volumes declined by 11%, 16% and 16%, respectively, compared to those of the first quarter 2017. Our focus on pricing strategy, led to a slight underperformance of our cement volumes versus the industry during the quarter on a year over year basis. Our cement prices continued their upward trajectory shown in the fourth quarter of 2017 and increased by 3% this quarter in local currency on a sequential basis. Our cement prices as of March this year, compared to those of June 2017, were 7% higher in local currency terms and 17% higher in U.S. dollar terms. Despite the expected improvement in GDP growth this year, the upward trajectory of oil prices, as well as historic low interest rates, construction activity continued declining during the first quarter of 2018. Our estimations indicate that during the first quarter national cement consumption including imports declined by 8 percent, or by 5 percent when adjusted for fewer working days. Panama 20182017% var20182017% varNet sales61 70 (12%)61 70 (12%)Operating EBITDA 20 31 (34%)20 31 (34%)Operating EBITDA margin33.1% 44.3% (11.2pp)33.1% 44.3% (11.2pp)January—MarchFirst QuarterIn millions of US dollars, except percentages. January—MarchFirst QuarterJanuary—MarchFirst QuarterJanuary—MarchFirst QuarterVolume (18%) (18%) (10%) (10%)4%4%Price (USD) (0%) (0%) (6%) (6%) (5%) (5%)Price (local currency) (0%) (0%) (6%) (6%) (5%) (5%)Year-over-year percentage variation.Domestic gray cementReady-MixAggregates In Panama during the first three months of the year our domestic gray cement and ready-mix volumes decreased by 18% and 10%, respectively, while our aggregates volume increased by 4%, compared to those of the first quarter 2017. Our estimations indicate that industry volumes during the quarter in Panama declined by 9%, or 7% when adjusted for fewer working days. Weak demand was anticipated during the first half of the year because of high home inventories in Panama City, as well as delays in the approval and execution of infrastructure projects. Our cement volumes declined by 18% in this period due to a lower cement market position, as we maintained our prices in a weak demand environment. We expect to recover our market position in coming months.

2018 First Quarter Results Page 4 OPERATING RESULTS Costa Rica 20182017% var20182017% varNet sales36 37 (5%)36 37 (5%)Operating EBITDA 10 12 (21%)10 12 (21%)Operating EBITDA margin26.7% 32.3% (5.6pp)26.7% 32.3% (5.6pp)January—MarchFirst QuarterIn millions of US dollars, except percentages. January—MarchFirst QuarterJanuary—MarchFirst QuarterJanuary—MarchFirst QuarterVolume5%5%11%11%31%31%Price (USD)0%0% (3%) (3%) (29%) (29%)Price (local currency)1%1% (2%) (2%) (28%) (28%)Year-over-year percentage variation.Domestic gray cementReady-MixAggregates In Costa Rica, during the first quarter our domestic gray cement, ready-mix and aggregates volumes increased by 5%, 11% and 31% respectively, compared to those of the first quarter 2017. Regarding our prices, both cement and ready-mix prices increased by 2% on a sequential basis during the quarter. The improvement in cement reflects our price increase implemented during the quarter, while the ready-mix price increase reflects higher sales of our value-added products, as well as the positive effect of services and surcharges. Rest of CLH 20182017% var20182017% varNet sales72 73 (1%)72 73 (1%)Operating EBITDA 2224 (10%)2224 (10%)Operating EBITDA margin30.0% 33.0% (3.0pp)30.0% 33.0% (3.0pp)In millions of US dollars, except percentages.January—MarchFirst Quarter January—MarchFirst QuarterJanuary—MarchFirst QuarterJanuary—MarchFirst QuarterVolume (4%) (4%)20%20%36%36%Price (USD)1%1% (1%) (1%) (8%) (8%)Price (local currency)4%4%1%1% (3%) (3%)Year-over-year percentage variation.Domestic gray cementReady-MixAggregates In the Rest of CLH region which includes our operations in Nicaragua, Guatemala, El Salvador and Brazil, during the first quarter of 2018, our domestic gray cement volume decrease by 4%, while our ready mix and aggregates volumes increased by 20% and 36%, respectively, compared to those of the first quarter 2017. Regarding our cement volumes, we observed delays in already contracted highways projects in Nicaragua, partially offset by higher volumes in Brazil. In the ready-mix business, volumes increased mainly due to improved service from our operation in Guatemala. With regards to Guatemala we partially compensated lost volumes from two mining projects that shutdown during the second quarter of 2017, with increased volumes to retailers and to our ready-mix operations. In our cement business, we are directly reaching more small retailers, while in ready-mix we are strengthening the service and coverage capabilities of our operations.

2018 First Quarter Results Page 5 . OPERATING EBITDA, FREE CASH FLOW AND DEBT RELATED INFORMATION Operating EBITDA and free cash flow 20182017% var20182017% varOperating earnings before other expenses, net46 72 (37%)46 72 (37%)+ Depreciation and operating amortization20 21 20 21 Operating EBITDA66 93 (29%)66 93 (29%)- Net financial expense15 17 15 17—Capital expenditures for maintenance7 10 7 10—Change in working Capital3623 3623—Taxes paid12 22 12 22—Other cash items (Net)26 426 4Free cash flow after maintenance capital exp(30) 17 n/a (30) 17 n/a—Strategic Capital expenditures1 16 1 16 Free cash flow (31) 1 n/a (31) 1 n/a In millions of US dollars, except percentages.January—MarchFirst Quarter Information on Debt 20182017% var201720182017Total debt 1, 2935960 927Currency denomination Short term36% 2% 37% U.S. dollar98%98% Long term64% 98% 63% Colombian peso2%2%Cash and cash equivalents32 35 (8%)45Interest rateNet debt 903 925 (2%)882 Fixed64%73% Variable36%27%Fourth QuarterIn 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.First QuarterFirst Quarter

2018 First Quarter Results Page 6 OPERATING RESULTS Income statement & balance sheet CEMEX Latam Holdings, S.A. and Subsidiaries in thousands of U.S. Dollars, except per share amounts INCOME STATEMENT20182017% var20182017% varNet sales301,081328,683 (8%)301,081328,683 (8%)Cost of sales(176,133)(178,199) 1%(176,133)(178,199) 1%Gross profit124,948150,484 (17%)124,948150,484 (17%)Operating expenses(79,431)(79,010) (1%)(79,431)(79,010) (1%)Operating earnings before other expenses, net45,51771,474 (36%)45,51771,474 (36%)Other expenses, net(1,411)(2,307) 39%(1,411)(2,307) 39%Operating earnings44,10669,167 (36%)44,10669,167 (36%) Financial expenses(14,755)(16,649) 11%(14,755)(16,649) 11% Other income (expenses), net18,8034,763 295%18,8034,763 295%Net income before income taxes48,15457,281 (16%)48,15457,281 (16%) Income tax(18,095)(21,747) 17%(18,095)(21,747) 17%Consolidated net income30,05935,534 (15%)30,05935,534 (15%)Non-controlling Interest Net Income(68)(114)40%(68)(114)40%Controlling Interest Net Income29,99135,420 (15%)29,99135,420 (15%) Operating EBITDA65,90492,608 (29%)65,90492,608 (29%)Earnings per share0.050.06 (15%)0.050.06 (15%)January—MarchFirst Quarter BALANCE SHEET20182017% varTotal Assets3,362,8933,380,890 (1%) Cash and Temporary Investments32,47735,184 (8%) Trade Accounts Receivables140,519124,859 13% Other Receivables60,19545,457 32% Inventories81,69075,107 9% Other Current Assets36,00823,147 56%Current Assets350,889303,754 16%Fixed Assets1,291,4361,275,233 1%Other Assets1,720,5681,801,903 (5%)Total Liabilities1,767,0351,856,322 (5%)Current Liabilities658,173358,111 84%Long-Term Liabilities1,092,6301,481,955 (26%)Other Liabilities 16,23216,256 (0%)Consolidated Stockholders’ Equity 1,595,8581,524,5685%Non-controlling Interest 6,4495,01029%Stockholders’ Equity Attributable to Controlling Interest 1,589,4091,519,5585%as of March 31

2018 First Quarter Results Page 7 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 INCOME STATEMENT20182017% var20182017% varNet sales851,111954,623 (11%)851,111954,623 (11%)Cost of sales(497,903)(517,559) 4%(497,903)(517,559) 4%Gross profit353,208437,064 (19%)353,208437,064 (19%)Operating expenses(224,537)(229,477) 2%(224,537)(229,477) 2%Operating earnings before other expenses, net128,671207,587 (38%)128,671207,587 (38%)Other expenses, net(3,990)(6,698) 40%(3,990)(6,698) 40%Operating earnings124,681200,889 (38%)124,681200,889 (38%) Financial expenses(41,710)(48,356) 14%(41,710)(48,356) 14% Other income (expenses), net53,15413,833 284%53,15413,833 284%Net income before income taxes136,125166,366 (18%)136,125166,366 (18%) Income tax(51,152)(63,161) 19%(51,152)(63,161) 19%Consolidated net income84,973103,205 (18%)84,973103,205 (18%)Non-controlling Interest Net Income(193)(331)42%(193)(331)42%Controlling Interest Net Income84,780102,874 (18%)84,780102,874 (18%) Operating EBITDA186,302268,971 (31%)186,302268,971 (31%)Earnings per share152.60185.40 (18%)152.60185.40 (18%)January—MarchFirst Quarter BALANCE SHEET20182017% varTotal Assets9,350,4249,737,774 (4%) Cash and Temporary Investments90,302101,339 (11%) Trade Accounts Receivables390,710359,623 9% Other Receivables167,371130,926 28% Inventories227,136216,326 5% Other Current Assets100,11966,671 50%Current Assets975,638874,885 12%Fixed Assets3,590,7983,672,976 (2%)Other Assets4,783,9885,189,913 (8%)Total Liabilities4,913,1885,346,654 (8%)Current Liabilities1,830,0301,031,446 77%Long-Term Liabilities3,038,0244,268,387 (29%)Other Liabilities 45,13446,821 (4%)Consolidated Stockholders’ Equity 4,437,2364,391,1201%Non-controlling Interest 17,93014,42924%Stockholders’ Equity Attributable to Controlling Interest 4,419,3064,376,6911%as of March 31

2018 First Quarter Results Page 8 OPERATING RESULTS Operating Summary per Country in thousands of U.S. dollars Operating EBITDA margin as a percentage of net sales 20182017% var20182017% varNET SALESColombia136,143 155,168 (12%)136,143 155,168 (12%)Panama61,296 69,606 (12%)61,296 69,606 (12%)Costa Rica35,699 37,427 (5%)35,699 37,427 (5%)Rest of CLH72,059 73,028 (1%)72,059 73,028 (1%)Others and intercompany eliminations (4,116) (6,546) 37%(4,116) (6,546)37%TOTAL301,081 328,683 (8%)301,081 328,683 (8%)GROSS PROFITColombia52,13364,189 (19%)52,13364,189 (19%)Panama25,20534,788 (28%)25,20534,788 (28%)Costa Rica14,15716,234 (13%)14,15716,234 (13%)Rest of CLH28,47030,634 (7%)28,47030,634 (7%)Others and intercompany eliminations 4,9834,6397%4,9834,6397%TOTAL124,948150,484 (17%)124,948150,484 (17%)Colombia17,94030,810 (42%)17,94030,810 (42%)Panama16,47526,224 (37%)16,47526,224 (37%)Costa Rica8,31310,855 (23%)8,31310,855 (23%)Rest of CLH19,89922,735 (12%)19,89922,735 (12%)Others and intercompany eliminations (17,110)(19,150)11%(17,110)(19,150)11%TOTAL45,51771,474 (36%)45,51771,474 (36%)OPERATING EBITDAColombia24,78037,660 (34%)24,78037,660 (34%)Panama20,26230,849 (34%)20,26230,849 (34%)Costa Rica9,52412,101 (21%)9,52412,101 (21%)Rest of CLH21,61124,070 (10%)21,61124,070 (10%)Others and intercompany eliminations (10,273)(12,072)15%(10,273)(12,072)15%TOTAL65,90492,608 (29%)65,90492,608 (29%)OPERATING EBITDA MARGINColombia18.2% 24.3%18.2% 24.3%Panama33.1% 44.3%33.1% 44.3%Costa Rica26.7% 32.3%26.7% 32.3%Rest of CLH30.0% 33.0%30.0% 33.0%TOTAL21.9% 28.2%21.9% 28.2%January—MarchFirst QuarterOPERATING EARNINGS BEFORE OTHER EXPENSES, NET

2018 First Quarter Results Page 9 OPERATING RESULTS Volume Summary Consolidated volume summary Cement and aggregates in thousands of metric tons Ready mix in thousands of cubic meters 20182017% var20182017% varTotal cement volume 11,7601,893 (7%)1,7601,893 (7%)Total domestic gray cement volume1,5291,675 (9%)1,5291,675 (9%)Total ready-mix volume 670756 (11%)670756 (11%)Total aggregates volume 1,6771,764 (5%)1,6771,764 (5%)January—MarchFirst Quarter1 Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar and clinker. Per-country volume summary January—MarchFirst QuarterFirst Quarter 20182018 vs. 20172018 vs. 2017vs. Fourth Quarter 2017DOMESTIC GRAY CEMENTColombia (11%) (11%) (7%)Panama (18%) (18%)6%Costa Rica5%5%7%Rest of CLH (4%) (4%)1%READY-MIXColombia (16%) (16%) (10%)Panama (10%) (10%)20%Costa Rica11%11% (7%)Rest of CLH20%20% (19%)AGGREGATESColombia (16%) (16%) (9%)Panama4%4%24%Costa Rica31%31% (6%)Rest of CLH36%36% (26%)

2018 First Quarter Results Page 10 OPERATING RESULTS Price Summary Variation in U.S. dollars January—MarchFirst QuarterFirst Quarter 20182018 vs. 20172018 vs. 2017vs. Fourth Quarter 2017DOMESTIC GRAY CEMENTColombia (2%) (2%)10%Panama (0%) (0%) (0%)Costa Rica0%0%2%Rest of CLH1%1%1%READY-MIXColombia2%2%10%Panama (6%) (6%) (2%)Costa Rica (3%) (3%)2%Rest of CLH (1%) (1%) (0%)AGGREGATESColombia (1%) (1%)3%Panama (5%) (5%)4%Costa Rica (29%) (29%) (3%)Rest of CLH (8%) (8%) (1%)For Rest of CLH, volume-weighted average prices. Variation in local currency January—MarchFirst QuarterFirst Quarter 20182018 vs. 20172018 vs. 2017vs. Fourth Quarter 2017DOMESTIC GRAY CEMENTColombia (5%) (5%)3%Panama (0%) (0%) (0%)Costa Rica1%1%2%Rest of CLH4%4%2%READY-MIXColombia (1%) (1%)3%Panama (6%) (6%) (2%)Costa Rica (2%) (2%)2%Rest of CLH1%1%1%AGGREGATESColombia (4%) (4%) (3%)Panama (5%) (5%)4%Costa Rica (28%) (28%) (3%)Rest of CLH (3%) (3%) (0%)For Rest of CLH, volume-weighted average prices.

2018 First Quarter Results Page 11 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 are provided below. 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 Individual information is provided for Colombia, Panama and Costa Rica. Countries in Rest of CLH include Nicaragua, Guatemala, El Salvador and Brazil. Exchange rates 2018 EoP2017 EoP2018 average2017 average2018 average2017 averageColombian peso2,780.472,880.242,826.852,904.392,826.852,904.39Panama balboa1.001.001.001.001.001.00Costa Rica colon569.31567.34571.47565.64571.47565.64Euro1.071.091.061.091.061.09Amounts provided in units of local currency per US dollar.January—MarchJanuary—MarchFirst Quarter

2018 First Quarter Results Page 12 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. EoP equals End of Period. 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.