Cementos Molins has reported revenue of EUR959m in the opening nine months of 2022, up 37 per cent on the same period a year earlier. According to the company, the increase is attributed to higher sales across all businesses and the significant contribution from acquisitions completed in 2021. On a like-for-like basis, revenue advanced by 14 per cent.
EBITDA over the same period improved by 11 per cent to EUR208m, on the back of strong performances by the company’s South American and Asian businesses, the contribution by acquisitions, and a positive exchange rate effect. On a like-for-like basis, EBITDA in the 9M22 came in on a par with the same period in the previous year due to the strong negative impact of high costs inflation, offset by higher selling prices and positive contribution from operational efficiency plans. According to the company, cost inflation has been particularly high in Spain with margins deteriorating despite increases in selling prices.
Profit over the nine-month period came in at EUR90m, three per cent up on the 9M21, with a lower hyperinflation impact in Argentina and a positive exchange rate effect related to the euro depreciation. Net debt over the same period reached EUR137m, equivalent to a net financial debt/EBITDA multiple of only 0.5 times. “This solid financial position is a great lever for the execution of new growth opportunities and the sustainability roadmap 2030,” said the company in a statement.
“Despite a very challenging and uncertain global environment and the negative impact of high inflation costs, once again Cementos Molins has delivered very solid results in the third quarter. This performance is the outcome of the contribution of a very professional and committed team worldwide, whom I would like to thank for their big effort in such a difficult environment,” added Julio Rodríguez, CEO, Cementos Molins.
