In the first nine months of the year, Cementos Molins’ revenues raised to €959 million, up 37% compared to the same period last year, driven by sales increase across all businesses and the significant contribution of acquisitions closed last year. On a like-for-like basis, revenues increased by 14%.
EBITDA achieved €208 million, 11% higher than same period of the previous year, due to the performance of South American and Asian businesses, the contribution by acquisitions, and the positive exchange rate effect. On a like-for-like basis, EBITDA reached same level as 2021 due to strong negative impact of high costs inflation, offset by selling prices increase and positive contribution of operational efficiency plans. Cost inflation has been particularly high in Spain with margins deterioration despite selling prices increase.
Cementos Molins reached a net profit of €90 million, 3% higher than same period previous year, with a lower hyperinflation impact in Argentina and a positive exchange rate effect related to the euro depreciation.
As regards net financial debt, during the third quarter continued to decline, reaching €137 million as of September 30th 2022, equivalent to a net financial debt/EBITDA multiple of only 0.5 times. This solid financial position is a great lever for the execution of new growth opportunities and the sustainability roadmap 2030.
"Despite a very challenging and uncertain global environment and the negative impact of high inflation costs, once again Cementos Molins has delivered very solid results in the third quarter. This performance is the outcome of the contribution of a very professional and committed team worldwide, whom I would like to thank for their big effort in such a difficult environment” says Julio Rodríguez,CEO of Cementos Molins, who keeps the main focus on the development of the Sustainability Roadmap 2030 and the commitment to supply carbon neutral concrete by 2050.
