Cementos Molins closed 2021 with revenues amounting to EUR968m, up 25 per cent YoY. The gradual economic improvement contributed to spur activity across all countries, with cement and concrete volumes growing by double digits.
EBITDA achieved a record EUR242m in 2021, advancing 18 per cent YoY. The strong results improvement is driven by increasing volumes, mix and price management, as well as the positive contribution of operational efficiency plans. Challenges included the huge cost inflation of energy, raw materials and logistics, which affected the EBITDA margin in the 3Q and 4Q21. The annual EBITDA margin was at 25 per cent.
Cementos Molins net profit reached EUR105m, 12 per cent up from the previous year. On a like-for-like basis excluding the exchange rate impact, hyperinflation and changes in the consolidation scope, the company’s net profit grew 28 per cent.
Net financial debt as of 31 December 2021 increased to EUR177m due to the acquisitions closed but remained at a comfortable net financial debt/EBITDA multiple of only 0.7x.
Julio Rodriguez, CEO at Cementos Molins, highlighted that “2021 has been another year of major challenges and at the same time of major achievements, with very positive results that shows the great commitment of the teams at Cementos Molins.”
