Cementos Molins achieves a net profit of 37 million euros in the first quarter of the year

The company reported sales increases in all businesses and regions in the first three months of the year.

Cementos Molins today announced its results for the first quarter of 2023, a period marked by slight global growth in the markets, although this performance is uneven across the company’s different geographical areas.

Net profit was 37 million euros, 70% higher than in the same period last year, as a result of the strong increase in operating profit, as well as the comparison with the first quarter of 2022, which was negatively affected by the economic slowdown, strong cost inflation and tensions in the supply chain.

In the first three months of the year, Cementos Molins’ sales amounted to 342 million euros, 25% higher than in the first quarter of the previous year, with increases in all regions and businesses and a positive impact on both volume and prices.

EBITDA amounted to EUR 86 million, 47% higher than in the same period of the previous year, with the positive contribution of the businesses in Spain and Mexico standing out. This improvement in operating profit is mainly due to volume growth, the positive impact of the efficiency plans, the improvement in selling prices and the improvement in fuel and energy costs in the first quarter of the year. The EBITDA margin increased by 3.8 p.p. to 25.2%, recovering part of the previous year’s erosion.

As regards net financial debt, during the first quarter 2023 it decreased by 26% to EUR 108 million, equivalent to a net financial debt/EBITDA multiple of only 0.4x. This solid financial position is a great lever for the execution of new growth opportunities and the investments foreseen in the 2030 sustainability roadmap.

CEO Julio Rodriguez explains: “In the first quarter of 2023 we are still on a growth path, with good operating results and making good progress in the execution of our 2030 roadmap as a stepping stone to reach carbon neutral concrete by 2050. Once again I would like to express my gratitude to the entire team of professionals at Cementos Molins for their effort, commitment and excellent results”.

On the other hand, after the end of the quarter, during April Cementos Molins expanded its business portfolio in Spain with the acquisition of Tecnoresil, a company that manufactures and distributes chemical products for industrial and decorative flooring.