Molins 1H24 results saw revenues of EUR692m, slightly lower than the 1H23, with positive impact of selling prices and negative impact of lower volume and currency fluctuations, especially in Argentina due to the decline in activity linked to the country's economic situation.
In the 1H24 EBITDA achieved EUR189m, a five per cent increase compared to the same period of previous year, highlighting the contribution of the businesses in Europe, Mexico and north Africa. This improvement of the operational result is driven mainly by the net contribution of selling prices over costs and the positive impact of efficiency plans, claims Molins. Conversely, lower volumes and currency fluctuations have had an adverse impact, particularly due to the significant devaluation of the Argentinean peso in the 4Q23. The EBITDA margin rose by 180 base points, reaching 27.3 per cent.
Molins closed the 1H24 with a net profit amounting to EUR105m, 31 per cent higher than the same period of the previous year. This increase has been driven mainly by the improvement in the financial result and, to a lesser extent, by the increase in the operating result. The period was highlighted by some market slowdown amplified by weather conditions, although this development is uneven across geographic regions.
The net financial debt continued to decline during the first half, reaching a net cash balance of EUR91m.
“In the first half of 2024 we have achieved very solid operational results with relevant progress in our sustainability roadmap, highlighted by the launch of Susterra, our own range of construction solutions with sustainability attributes" states Marcos Cela, CEO of Molins. “I would like to thank the entire team of professionals at Molins for their continuous effort and commitment to achieve the goals” adds Mr Cela.
