Cementos Molins reports record results in 2023

Cementos Molins reports record results in 2023
29 February 2024

Spain-based Cementos Molins closed 2023 with revenues of EUR1349m, up six per cent YoY with gains across all businesses and regions as sales increased and price management impacted positively on the company’s results.

EBITDA advanced 22 per cent YoY to EUR337m thanks in particular to the contribution of the company’s Spanish and Mexican operations. Higher volumes, successful efficiency plans and increases in selling prices all played a role in improving the operational result. However, the significant devaluation of the Argentine peso in the fourth quarter weighed on company performance. The EBITDA margin rose by 320bps to 25.0 per cent.

Net profit increased 35 per cent to EUR151m thanks to strong operational results while the effective tax rate remained at 28 per cent.

Cementos Molins continued to reduce its net financial debt in the 4Q23, maintaining a strong cash generation to reach a net cash balance of EUR17m.

"We have achieved record sales and profits in an increasingly complex and uncertain global environment. Moreover, we have once again confirmed the strength of our business model by exceeding our targets,”states Julio Rodríguez, CEO of Cementos Molins. "These results are a consequence of the effort and great commitment of our team, with more than 6300 people, and encourage us to continue working towards the company's primary objective, our 2030 Sustainability Roadmap.”

Cementos Molins’ Board of Directors has approved a new strategic plan for the 2024-26 period. The new plan aims for profitable and sustainable growth based on five pillars: the 2030 agenda, sustainable products and solutions, digital agenda, sustainable growth, and people. The programme targets organic revenue growth of 3-4 per cent on average annually and EBITDA growth of 4-5 per cent annually.

Published under Cement News