Cementos Molins reports 25% YoY revenue growth in 1Q23

Cementos Molins has reported revenue of EUR342m in the first quarter of 2023, up 25 per cent YoY. According to the company, sales have improved across all businesses and regions, driven by both volume and selling prices. On a like-for-like basis, revenue improved by 38 per cent. EBITDA over the same period advanced by 47 per cent YoY to EUR86m, with a strong contribution from Spain and Mexico. Like-for-like EBITDA increased by 64 per cent.

Net profit in the 1Q23 came in at EUR37m, marking growth of 70 per cent on the same period last year, driven by the company’s strong increase of operating results and the comparison with the previous year, which was negatively impacted by the slowdown in the markets, high inflation, and supply chain disruptions. Net debt in the 1Q23 fell 26 per cent to EUR108m, “an important level for executing new growth opportunities, as well as for continuing to invest in the company’s 2030 Sustainability Roadmap,” according to Cementos Molins.

Julio Rodríguez, CEO, said, “We have continued on the path of growth throughout the first quarter of 2023, with solid operating results. Furthermore, as a first step toward producing carbon neutral concrete by 2050, we are moving forward at a firm pace in the execution of our 2030 Sustainability Roadmap. Once again, I want to express my gratitude to the entire Cementos Molins team for their hard work, dedication, and outstanding results."