Cementos Molins achieves a net profit of 90 million euros through September

Significant contribution from business outside Europe and growth driver from acquisitions in 2021 in a context of slowing markets and strong cost inflation, especially in Spain.

26 October 2022

Cementos Molins today announced its results for the first nine months of 2022, a period marked by a slowdown in economic growth, strong cost inflation, especially in Spain, and supply chain tensions. Despite this difficult environment, Cementos Molins has once again posted solid results in the quarter, and continues to make progress towards exceeding the objectives set out in the 2020-2023 strategic plan.

In the first nine months of the year, Cementos Molins’ sales amounted to 959 million euros, an increase of 37% compared to the same period last year, driven by increased sales in all businesses, and by the significant contribution of the acquisitions made during the past year. On a like-for-like basis, sales increased by 14%.

EBITDA reached €208 million, 11% higher than in the first nine months of last year, due to the contribution from the businesses in South America and Asia, the contribution from acquisitions, and the positive exchange rate effect. On a like-for-like basis, EBITDA remained at last year’s level due to the strong negative impact of cost inflation, mitigated by price increases and the positive contribution from operating efficiency plans. The strong cost inflation was particularly high in Spain where margins deteriorated despite price increases.

Cementos Molins’ net profit amounted to 90 million euros, 3% higher than in the same period of the previous year, with a lower impact of hyperinflation in Argentina, and a positive exchange rate effect as a result of the depreciation of the euro.

As regards Cementos Molins’ net financial debt, during the third quarter it continued to decrease to reach 137 million euros at 30 September 2022, equivalent to a net financial debt/EBITDA multiple of only 0.5 times. This solid financial situation is a great lever for the execution of new growth projects and the 2030 sustainability roadmap.

“Despite a very complex and uncertain global environment and the negative impact of high cost inflation, Cementos Molins has once again obtained very solid results in the third quarter of the year. This result is the result of the work of a very professional and committed team, whom I would like to thank for their hard work in the face of the difficult environment”, says Julio Rodríguez, CEO of Cementos Molins, which continues to focus on the execution of the Sustainability Roadmap 2030 and the goal of supplying carbon neutral concrete by 2050.

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.