Cementos Molins reports on 35% rise in revenue in 1H22

Cementos Molins reports on 35% rise in revenue in 1H22
28 July 2022

Cementos Molins has reported revenue of EUR608m in the first half of 2022, up 35 per cent on the same period a year earlier, driven by higher activity in South America and acquisitions in 2021. On a like-for-like basis of currencies and consolidation scope, revenue advanced by 12 per cent.

EBITDA in the 1H22 reached EUR132m, marking a six per cent advance on the 1H21, mainly due to the improvement of business outside Europe, the contribution from acquisitions, and the positive exchange rate effect. On a like-for-like basis, EBITDA declined by four per cent YoY on the back of lower volumes and cost inflation. Net profit remained on a par with the first six months of 2021 at EUR57m.

In terms of net debt, as of 30 June 2022, it fell to EUR158m, reaching a net financial debt/EBITDA multiple of 0.6 times.

“Despite the markets growth slowdown and the uncertain global context, at Cementos Molins we continue to move confidently towards achieving the objectives of our strategic plan 2020-2023,” says Julio Rodríguez, CEO of Cementos Molins. The company also remains focussed on its Sustainability Roadmap 2030 with the target of supplying carbon neutral concrete by 2050. 

Published under Cement News