Cementos Molins reports 5% rise in net profit for 2019

Cementos Molins reports 5% rise in net profit for 2019
28 February 2020

Cementos Molins posted a consolidated net profit of EUR90m in 2019, up five per cent YoY. EBITDA increased five per cent YoY to EUR49m. However, the depreciation of the Argentine peso and the hyperinflation in the Latin American country impacted the results. Excluding this, consolidated net profit growth would have been 16 per cent while EBITDA would have advanced by 13 per cent, said the company in a statement.

The company achieved a turnover of EUR797m, reporting a four per cent YoY increase. Without taking into account the variation in exchange rate, sales would have been 15 per cent higher.

Overall, business was positive in Spain, Argentina and Bangladesh, but in Mexico the market remained level and Bolivia experienced social instability in the final quarter of the year.

Cementos Molins implemented investments to the value of EUR82m in 2019: it is building a new cement plant in Colombia and expanded its San Luis facility in Argentina.

Its newly-approved strategic plant for 2020-22 targets an average annual sales growth of four per cent and an annual EBITDA growth of 6-8 per cent. The group expects to expand at an average rate of four per cent annually in the next three years.

Published under Cement News