Cementos Molins closes 1Q24 with 38% net profit hike

Cementos Molins SA saw revenues slip to EUR336m in the 1Q24 due to the decline in activity in Argentina only being partly offset by increases in most businesses and regions.

EBITDA picked up by five per cent YoY to EUR90m thanks to the contribution of the company’s businesses in Europe, Mexico and North Africa. Selling prices delivered a net contribution when compared with costs and the positive impact of efficiency plans also contributed to the upward trend in EBITDA. On the downside, lower volumes and currency fluctuations impacted the result negatively, particularly as the Argentine peso saw a significant devaluation in the 4Q23. The EBITDA margin increased by 170bps to 26.9 per cent.

Cementos Molins’ net profit saw a 38 per cent YoY upswing to EUR52m as the company reduced its financial expenses and delivered higher operating results.

The net financial debt continued to decline during the first quarter, reaching a net cash balance of EUR46m. This financial strength is an important lever to develop new growth opportunities and to execute the investments foreseen in the 2030 Sustainability Roadmap

“We have achieved very strong operating results during the first quarter, in line with the company’s strategic plan 2024-26, with great progress in the execution of our net zero roadmap towards decarbonisation” states Julio Rodriguez, CEO of Cementos Molins. “I would like to thank the entire team of professionals at Cementos Molins for their effort, great commitment, and excellent results", Mr Rodriguez adds.