Cementos Molins (CMO) Q2 2026 earnings summary

Executive summary

• Achieved strong sales and EBITDA growth in 1H 2026, driven by the integration of Secil, robust performance in Mexico, and disciplined commercial strategy amid geopolitical uncertainty and cost inflation.

• Secil acquisition expanded presence in Europe and Latin America, diversifying the business and strengthening industrial capacity.

• Continued selective acquisitions in Spain and Argentina enhanced technical capabilities and product range.

• Sustainability and decarbonisation remain strategic priorities, with climate objectives validated by SBTi and updated roadmap post-Secil acquisition.

• Shares began trading on the Spanish Continuous Market in July 2026, marking a strategic milestone.

Financial highlights

• Sales reached €751 million in 1H 2026, up 50% year-over-year, with like-for-like growth of 11%.

• EBITDA Operative rose 66% to €164 million, with margin improving to 21.9% (+2.1pp); like-for-like EBITDA up 13%.

• Adjusted EBITDA, including joint ventures, totaled €237 million (+48% year-over-year; LFL +14%).

• Net income for 1H 2026 was €111 million, up from €95 million in 1H 2025; EPS rose 16% to €1.67.

• Net financial debt increased to €1,341 million, reflecting acquisitions, but liquidity remains strong with €333 million in cash and €500 million in unused credit facilities.

• Free cash flow generation of €117 million in 1H 2026, supporting deleveraging.

Outlook and guidance

• Integration of Secil progressing as planned, with strategic focus on margin expansion, operational efficiency, and sustainability.

• Second half of 2026 expected to benefit from full consolidation of Secil, operational synergies, and continued efficiency measures.

• Leverage expected at 2.4x by year-end 2026, maintaining financial flexibility.

• Continued commitment to decarbonization and lower-carbon solutions as part of the 2030 sustainability roadmap.