Cementos Molins posts revenues of EUR705m in 1Q23

Cementos Molins has announced its financial results for the 1Q23. Revenues reached EUR705m, up 16 per cent compared to the 1Q22. The company has also improved sales across all businesses and regions, driven by both volume and selling prices. On a LfL basis, revenues rose by 30 per cent.

EBITDA reached EUR179m, a 36 per cent increase compared to the same period of 2022. This improvement is primarily due to the positive impact generated by higher volumes, as well as the company’s efficiency plans, sales price increases, and the gradual correction of fuel and energy prices, partly offset by the negative impact of currencies. LfL EBITDA has increased 53 per cent. The EBITDA’s margin has increased 370 basis points, reaching 25.5 per cent, recovering part of the margin erosion experienced last year.

Cementos Molins' net profit has reached EUR80m, a 40 per cent increase compared to the first semester of last year. This growth can be attributed to the company's strong operating results as well as the favourable impact of the comparison with the previous year, which was negatively affected by market slowdown, high inflation, and supply chain disruptions.  

During the 1H23, net financial debt decreased by 57 per cent to EUR69m, equivalent to a net financial debt/EBITDA multiple of only 0.2 times.