Cementos Molins, S.A. · BME:CMO
Cementos Molins — Q3 2025 Earnings Presentation
16 slides from Cementos Molins's earnings presentation, October 2025
Slide 1: 2025 Results Q3
RESULTS Q3 2025 2025 Results Q3 Mortuary in Viladecans (Barcelona) built with concrete and aggregates by Molins. 1
Slide 2: Legal Note
RESULTS Q3 2025 Legal Note The English version is only a translation, for information purposes, of the original in Spanish. In the event of any inconsistency or ambiguity in relation to the meaning of any word or phrase in translation, the Spanish original shall prevail. This document may contain fo
Slide 3: Robust results continue
RESULTS Q3 2025 Robust results continue In a global environment of economic uncertainty ▪ Slight recovery in the markets while global economic uncertainty continues. ▪ Sales of Q3 increased by 5%. Sales YTD 09 of € 1,004M, -2% 2024 (LFL¹ +7%) with positive impact of selling prices and negative impac
Slide 4: Robust results continue
RESULTS Q3 2025 Robust results continue In a global environment of economic uncertainty Q3 2025 Q3 2024 % var. % LFL ¹ 9M 2025 9M 2024 % var. % LFL ¹ 345 329 5% 10% Sales 1.004 1.022 -2% 7% 89 85 4% 7% EBITDA 263 274 -4% 6% 25,7% 25,9% -0,3 -0,2 EBITDA Margin 26,2% 26,9% -0,6 -0,3 68 69 -1% -1% EBIT
Slide 5: Gradual recovery of activity
RESULTS Q3 2025 Gradual recovery of activity PORTLAND CEMENT CONCRETE SALES (€M) VOLUME (Th. t) VOLUME (Th. m³) +4% +2% +2% -2% +5% -2% 1,817 1,894 5,411 5,509 385 393 1.166 1.145 345 1.022 1.004 329 Q3 2024 Q3 2025 9M 2024 9M 2025 Q3 2024 Q3 2025 9M 2024 9M 2025 Q3 2024 Q3 2025 9M 2024 9M 2025 ▪ Re
Slide 6: Sustainable and profitable growth
RESULTS Q3 2025 Sustainable and profitable growth Annualized margin remains around 26% EBITDA BY QUARTER (€M) EBITDA MARGIN LTM BY QUARTER (%) -11% -3% +4% 99 99 93 90 89 86 87 87 85 82 25.4 25.9 25.8 26.1 26.0 25.7 25.6 24.9 25.0 23.7 22.7 21.8 59 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’
Slide 7: EBITDA driven by selling prices and costs efficiencies
RESULTS Q3 2025 EBITDA driven by selling prices and costs efficiencies ▪ EBITDA like-for-like¹ increased by 6%: positive impact of volumes, net contribution of selling prices over costs, and efficiency plans. ▪ Unfavourable impact of currency fluctuations especially the depreciation of the Mexican a
Slide 8: Sales and EBITDA by Region
RESULTS Q3 2025 Sales and EBITDA by Region Sales and EBITDA increased on a like-for-like basis by 7% and 6%, respectively. SALES EBITDA 9M2025 9M2024 % var. % LFL ¹ 9M2025 9M2024 % var. % LFL ¹ Europe 458 423 8% 4% 88 81 9% 1% Mexico 231 262 -12% -1% 109 119 -8% 3% South America 211 233 -10% 23% 54
Slide 9: Strong cash flow generation
RESULTS Q3 2025 Strong cash flow generation ▪ Cash flow generation of € 111M in YTD 09, achieving a cash-conversion-rate of 43%. ▪ Increase in working capital due to seasonal and one-off impacts. ▪ Strengthening of sustaining investments, with a focus on sustainability, efficiency, and digitalizatio
Slide 10: Strong financial position enables future projects and fuels continued expansion
RESULTS Q3 2025 Strong financial position enables future projects and fuels continued expansion ▪ Net cash position of € 96M, with a debt coverage ratio¹ of 2.4x. ▪ Gross debt totaling € 325M, with more than 41 % maturing from 2029 onwards. ▪ Sustainable financing: 62 % of total debt is linked to su
Slide 11: Improvement continues aligned with sustainability roadmap
RESULTS Q3 2025 Improvement continues aligned with sustainability roadmap Commitment to setting targets through the Science Based Targets initiative (SBTi). Net CO2 emissions Alternative fuels rate Clinker rate (kg CO2/t cementitious material) (% alternative fuels) (% t clinker per ton cement) -58 k
Slide 12: Acquisition of the leader in precast concrete solutions in Southeast Europe
RESULTS Q3 2025 COMM Acquisition of the leader in precast concrete solutions in Southeast Europe ▪ Agreement with TITAN to boost the precast concrete solutions business in Southeast Europe. ▪ First joint acquisition of Baupartner, specialized in the design, manufacture and assembly of customized pre
Slide 13: Building the present. Shaping the future.
RESULTS Q3 2025 Building the present. Shaping the future. 13
Slide 14: Annex: Conciliation between proportional and EU-IFRS financial statements
RESULTS Q3 2025 Annex: Conciliation between the financial statements with proportional basis and the financial statements resulting by the application of international accounting standards EU-IFRS Conciliation Consolidated Balance (M€) S ep 30th, 2 02 5 D ec 31 st, 2 02 4 Adjustment Adjustm. comp. A
Slide 15: Annex: Conciliation between proportional and EU-IFRS financial statements
RESULTS Q3 2025 Annex: Conciliation between the financial statements with proportional basis and the financial statements resulting by the application of international accounting standards EU-IFRS 9M 2025 9M 2024 Conciliation Consolidated Adjustment comp. Adjustm. comp. Adjustment comp. Adjustm. com
Slide 16: Basis for information presentation
RESULTS Q3 2025 Basis for information presentation Molins actively takes part in the management of the companies which consolidates through the equity method, whether this is in conjunction with another shareholder or by means of relevant participation in its decision-making bodies. Following the gu