Cementos Molins posts revenues of EUR1079m in 9M23
Cementos Molins has announced its financial results for the first three quarters of 2023, achieving revenues of EUR1079m, up 13 per cent compared to same period in 2022. The company reached sales growth across all business segments and most regions. On a LfL basis, revenues rose by 34 per cent.
EBITDA reached EUR278m, representing a 33 per cent increase compared to the same period last year. This improvement is driven mainly due to the positive impact of higher volumes, the company’s efficiency plans, and the increase of selling prices. These gains, however, were partially offset by currency fluctuations. On a LfL basis, EBITDA increased by 61 per cent. The EBITDA Margin rose by 410bps, reaching 25.8 per cent, recovering part of the margin erosion experienced last year.
Cementos Molins' net profit reached EUR124m, a 38 per cent increase compared to the first nine months of last year, highlighting the contribution of Mexico. This growth is attributable to the company's strong operational performance and favourable YoY comparison, with the previous year having been negatively affected by a market slowdown, high inflation, and supply chain disruptions.
During the first three quarters of 2023, Cementos Molins reduced its net financial debt by 76 per cent, reaching EUR34m, equivalent to a net financial debt/EBITDA multiple of only 0.1 times. This solid financial position is a relevant lever to pursue new growth opportunities and to continue investing in the company’s 2030 Sustainability Roadmap.
Cementos Molins’ CEO, Julio Rodríguez, stated: "Despite the increasing challenges in the global environment, the results for the first nine months of the year showcase the strength of our integrated business model, which comprises products and solutions for the construction. We are also making significant progress in implementing our sustainability strategy.”
Inauguration of state-of-the-art facilities in Barcelona
On its 95th anniversary, Cementos Molins has inaugurated its new facilities in Barcelona, Spain. This significant milestone includes the complete renovation of the office building, the commissioning of a photovoltaic installation for self-consumption, the revitalisation of green spaces, and the establishment of a new plant for the recovery and valoriaation of alternative raw materials. These state-of-the-art facilities are aligned with the company’s sustainability roadmap and contribute with substantial environmental improvements and energy savings.
