Cementos Molins closed the first quarter with a net profit of 22 million, impacted by the sharp increase in energy costs.

Revenues increased 23% in the year to March thanks to new acquisitions and the good level of activity in South America.

27 April 2022_CementosMolins today announced its results for the first quarter of 2022, a period marked by the sharp inflation in energy, transport and raw material costs that began in mid-2021.

In the first three months of the year, Cementos Molins’ revenues amounted to 274 million euros, an increase of 23% compared to the same period last year. Both the acquisitions made by the company last year and the increased economic activity in South America have contributed to this significant increase. On a like-for-like basis of exchange rates and scope of consolidation, revenues increased by 4%.

Thanks to the contribution of sales price increases and the company’s operational efficiency plans, the impact of the strong inflation in energy, raw materials and transport costs, which was particularly high in Spain, was partially mitigated. EBITDA amounted to EUR 59 million, 5% lower than in the same period of the previous year.

The net profit obtained by Cementos Molins was 22 million euros, which represents a decrease of 34% compared to the same period of the previous year, due to the aforementioned increase in costs with lower operating results, and to the increase in financial expenses which include the impact of exchange rates.

Following the acquisitions made in 2021, Cementos Molins’ net financial debt at 31 March 2022 stood at €190 million, reaching a comfortable net financial debt/EBITDA multiple of 0.8x. This solid financial situation allows the company to continue with the execution of its 2020-2023 strategic plan to achieve the objectives set out therein.

In terms of inorganic growth operations in the first quarter of the year, Cementos Molins successfully closed at the end of March the acquisition of Hanson Hispania’s aggregates and concrete business in Catalonia after receiving approval from the regulatory authority.

Julio Rodríguez, CEO of Cementos Molins, considers that “the year 2022 presents us with an uncertain and highly complex global environment where the war in Ukraine and its global effects are now being added to the problems of inflation and supply chains that had been dragging on previously. Despite this difficult environment, in 2022 we expect to be able to build on the strong results achieved in previous years.

About Cementos Molins. At Cementos Molins we have been creating products and developing innovative and sustainable solutions for the construction sector for more than 90 years, contributing to the development of society, the quality of life of people and the protection of the environment. We currently operate in Spain, Mexico, Argentina, Uruguay, Bolivia, Colombia, Germany, Croatia, Turkey, Tunisia, Bangladesh and India. Our integrated model includes the businesses of aggregates, cement, concrete, mortars, prefabricated products, urban landscaping and architectural façades, as well as waste recovery. Our long history has been made possible by our team of more than 6,300 employees in twelve countries and on four continents, working every day with passion, respect and integrity.