Cementos Molins increases net profit by 42% and reaches 87 million euros up to September

Results well above pre-pandemic levels with revenues and EBITDA growing by 29% and 31% respectively.

28 October 2021_CementosMolins today announced its results for the first nine months of 2021, marked by solid growth in all its businesses and a clear improvement on pre-pandemic levels. Overall, growth in the different markets is very positive despite strong inflation in energy, raw materials and transport costs.

Revenues amounted to EUR 702 million, an increase of 29% compared to the same period of the previous year (without exchange rate fluctuations they increased by 36%).

EBITDA was EUR 187 million, 31% higher than in the first nine months of 2020 (+40% like-for-like excluding exchange rate impact), and well above pre-pandemic levels. This strong improvement in results was driven by volume, mix management and selling price increases and the positive contribution of operational efficiency plans. On the negative side, the strong global inflation in energy, raw materials and transport costs, as well as the depreciation of the Argentine peso. The EBITDA margin was slightly lower than in the first half due to cost inflation, but still 26.7%, 48 b.p. higher than a year earlier. We expect a further negative impact from global cost inflation in energy, raw materials, and transport costs during the fourth quarter, which will be a focus of attention until at least the middle of next year.

Cementos Molins’ net profit reached 87 million euros, an increase of 42% compared to the same period of the previous year.

Net financial debt as of 30 September 2021 decreased to a net cash balance of EUR 11 million due to strong cash flow generation. This solid financial position facilitates the execution of the company’s strategic plan through the consolidation of its current markets and the inorganic development of new markets. In 3Q 2021 Cementos Molins announced the agreement to purchase Calucem, the world’s second largest calcium aluminate cement producer, and the acquisition of HeidelbergCement’s aggregates and concrete business in Catalonia. These two operations are in addition to the announcements made in the first half of the year of the takeover of Escofet, a benchmark in architectural concrete and urban spaces, and the purchase of a white cement facility in Spain from the Çimsa group.

Julio Rodríguez, CEO of Cementos Molins, considers the results obtained in the third quarter to be very positive: “We have achieved five quarters of solid growth and, with the new acquisitions made, we have improved our global positioning and given a new boost to our strategy of profitable and sustainable growth; at the same time, the strength of our balance sheet provides us with an excellent position to continue consolidating growth opportunities in the coming quarters”, says Rodríguez.

Following the European Securities Markets Authority (ESMA) guidelines on Alternative Performance Measures (APMs), which are mandatory for regulated information, the information and disclosures relating to APMs used in this press release are included in the “3Q 2021 Results” presentation submitted by the Company to the Comisión Nacional del Mercado de Valores (CNMV).

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, Tunisia, Bangladesh and India. Our integrated model includes the businesses of aggregates, cement, concrete, mortars, prefabricated products, urban environment and architectural façades, as well as waste recovery. Our long history has been made possible by our team of more than 5,000 employees in nine countries and on four continents, working every day with passion, respect and integrity.