Cementos Molins announced its financial results for the first quarter of 2023 today, a period highlighted by a slight global markets growth, although this evolution is uneven across the different geographic regions of the company.
During the first three months of the year, Cementos Molins revenues reached € 342 million, up 25% compared to last year’s first quarter. The company has also improved sales across all businesses and regions, driven by both volume and selling prices. On a like-for-like basis, revenues rose by 38%.
EBITDA reached € 86 million, a 47% increase compared to the same period of 2022, highlighting the contribution of businesses in Spain and Mexico. 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 temporary correction of fuel and energy prices. On a like-for-like basis, EBITDA has increased 64%. The EBITDA’s margin has increased 380 bps, reaching 25.2%, recovering part of the margin erosion experienced last year.
Cementos Molins’ net profit has reached € 37 million, an increase of 70% compared to last year’s first quarter, due to the company’s strong increase of operating result and the comparison with last year’s, negatively affected by the markets slowdown, high inflation, and supply chains disruptions.
During the first quarter of 2023, net financial debt decreased by 26% to € 108 million, equivalent to a net financial debt/EBITDA multiple of only 0.4 times. This sound financial balance is an important lever for executing new growth opportunities, as well as for continuing to invest in the company’s 2030 Sustainability Roadmap.
Cementos Molin’s CEO, Julio Rodríguez, explains: "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”.
In April, Cementos Molins has expanded its portfolio of industrial flooring solutions in Spain with the acquisition of Tecnoresil, a company that manufactures and distributes chemical products for industrial and decorative flooring.