The company’s sales and financial results have increased in all regions during the first semester.
Cementos Molins announced today its financial results for the first semester of 2023, a period highlighted by global markets slow down, although this evolution is uneven across the different geographic regions.
During the first six months of the year, Cementos Molins revenues reached € 705 million, up 16% compared to last year’s first semester. 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 30%.
EBITDA reached € 179 million, a 36% 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. On a like-for-like basis, EBITDA has increased 53%. The EBITDA’s margin has increased 370 bps, reaching 25.5%, recovering part of the margin erosion experienced last year.
Cementos Molins' net profit has reached €80 million, a 40% 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 favorable impact of the comparison with the previous year, which was negatively affected by market slowdown, high inflation, and supply chain disruptions.
During the first half of the year 2023, net financial debt decreased by 57% to € 69 million, equivalent to a net financial debt/EBITDA multiple of only 0.2 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 Molins' CEO, Julio Rodríguez, explains: " We have continued on the path of sustainable and profitable growth throughout the first half of the year. It has been a truly positive second quarter in terms of our economic results, but also very encouraging thanks to the progress we are making in terms of sustainability. We have achieved important milestones in our Sustainability Roadmap 2030, including the launch of new low-carbon footprint cements and concretes. Furthermore, we inaugurated a new solar park in San Luis (Argentina) that covers 55% of the plant's electricity consumption, preventing the emission of over 22,000 tons of CO2 per year. Additionally, the recovery of 141,000 tons of waste in Spain is highly significant. I would like to take this opportunity to express my gratitude to all Cementos Molins professionals for their effort, commitment, and outstanding results."