Molins delivers strong results with margin expansion in the first nine months of the year

Adjusted EBITDA increased by 63%, supported by the significant contribution from acquisitions and strong performance in Mexico. On a like-for-like basis, sales and Adjusted EBITDA grew by 13% and 14%, respectively.

Strong cash generation reinforces the company’s deleveraging capacity.

The integration of Secil continues to progress as planned, strengthening the company’s profile through greater geographical diversification and enhanced capacity for sustainable growth.

Molins has reported its results for the first nine months of 2026, in a global environment marked by geopolitical uncertainty and cost inflation. In this context, the company delivered solid results, supported by pricing discipline, operational efficiency initiatives and the contribution from acquisitions, with significant margin expansion.

In the first nine months, sales reached €1,241 million, up 65% year on year. Performance was driven by pricing discipline and the contribution from acquisitions, which offset the adverse impact of foreign exchange fluctuations, particularly in Argentina. On a like-for-like basis, at constant currencies, excluding the impact of hyperinflation in Argentina and Turkey and on the same consolidation scope, sales increased by 13%.

EBITDA achieved €280 million, up 92% year on year. On a like-for-like basis, EBITDA increased by 15%, supported by pricing discipline and operational efficiency initiatives despite an inflationary environment, particularly in energy, fuel and freight costs. This performance drove an EBITDA margin expansion of 317 bps to 22.6%. Adjusted EBITDA, which includes the contribution from equity-accounted joint ventures, reached €391 million, up 63% year on year, supported by the Operating EBITDA growth and the increased contribution from joint ventures, particularly Mexico. Earnings per share increased by 23% to €2.61.

Solid operating performance across regions

At regional level, Europe delivered sales growth, supported by pricing discipline and the contribution from acquisitions, amid cost pressures. South America maintained a strong operating performance despite adverse FX impacts, while Africa operated in a challenging competitive environment. Joint ventures continued to make a significant contribution to the Group’s results, driven by the strong performance in Mexico and positive momentum in Colombia.

Strong cash generation and financial discipline

Free cash flow reached €165 million in the first nine months of the year, including €55 million of dividends received from the joint ventures, reinforcing the company’s deleveraging capacity. Net financial debt stood at €1,364 million at the end of September 2026. Molins maintains a strong financial position, with ample liquidity headroom and a long-term, diversified debt maturity profile.

Sustainable growth

Molins continues to advance its sustainable growth and diversification strategy. The integration of Secil, acquired at the end of March, is progressing as planned and strengthening Molins’ presence in Europe and Latin America. During the third quarter, Molins completed the acquisition of Protex in Argentina, a regional leader in the manufacture and sale of construction chemicals. In October, the company also inaugurated an urban landscape solutions plant in Oklahoma, Molins’ first production facility in the United States, strengthening its ability to serve the North American market.

“The nine-month results reflect the strength of our business and the solid performance in this new chapter. We continue to grow and expand margins, supported by pricing discipline, operational efficiency and the commitment of our teams. The integration of Secil is progressing as planned, strengthening our diversification and growth capacity. Strong cash generation enables us to continue deleveraging while executing our strategy of sustainable growth and long-term value creation,” commented Marcos Cela, Chief Executive Officer of Molins.

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