Cementos Molins achieves record results in the first three quarters of 2023

Cementos Molins announced today its financial results for the first three quarters of 2023, a period highlighted by a stepwise global market slow down, although this evolution varies across geographic regions. 
 
Over the first nine months of the year, Cementos Molins achieved revenues of € 1,079 million, up 13% compared to same period in 2022. The company reached sales growth across all business segments and most regions. On a like-for-like basis, revenues rose by 34%.  
 
EBITDA reached € 278 million, representing a 33% 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 like-for-like basis, EBITDA increased by 61%. The EBITDA Margin rose by 410 bps, reaching 25.8%, recovering part of the margin erosion experienced last year. 
 
Cementos Molins' net profit reached € 124 million, a 38% 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 favorable year-on-year 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%, reaching € 34 million, 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 Molin’s 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. I extend my personal gratitude to our dedicated and committed team of more than 6,200 employees, whose efforts have enabled our growth across our diverse business segments and in most geographical regions.” 
 
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 revitalization of green spaces, and the establishment of a new plant for the recovery and valorization 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.