Cementos Molins maintains a net profit of 57 million euros in the first half of the year

Highlights contribution from international business and acquisitions in 2021 amid slowing markets, high cost inflation and supply chain tensions

27 July 2022_CementosMolins today announced its results for the first half of 2022, a period marked by a complex and uncertain global context, with a slowdown in economic growth, strong cost inflation and tensions in the supply chain.

In the first six months of the year, Cementos Molins’ sales amounted to 608 million euros, an increase of 35% compared to the same period of the previous year, driven by the increase in activity, new businesses in South America and the significant contribution of the acquisitions made in 2021. On a like-for-like basis, sales increased by 12%.

EBITDA reached €132 million, 6% higher than in the same period of the previous year, due to the contribution of the businesses outside Europe, the contribution from acquisitions, and the positive exchange rate effect. On a like-for-like basis, EBITDA declined 4% due to the negative impact of lower volumes and strong cost inflation, partially mitigated by price increases and the positive contribution from operating efficiency plans. The strong cost inflation was particularly high in Spain where, despite price increases, costs were not offset by the corresponding deterioration in margins.

Cementos Molins’ net profit was 57 million euros, in line with the same period of the previous year, with a lower impact of hyperinflation in Argentina and a positive effect of the exchange rate.

As for Cementos Molins’ net financial debt, at 30 June 2022 it decreased to 158 million euros, reaching a comfortable net financial debt/EBITDA multiple of 0.6 times.

In parallel, Cementos Molins continues to make progress in the execution of the “Sustainability Roadmap 2030” with the objective of supplying carbon neutral concrete in 2050.

“Despite the slowdown in market growth and an uncertain global context, at Cementos Molins we continue to move forward with confidence towards achieving the objectives of our 2020-2023 strategic plan”, says Julio Rodríguez, CEO of Cementos Molins, who continues to focus on the progress of the Sustainability Roadmap 2030.

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.