Secil — Cyborg Score 7/10

Strong
Cement & Building Materials

Strategic Profile

Semapa has held the entire share capital of Secil since May 2012. The company is expected to be acquired by Spain's Cementos Molins by March 2026, marking a significant strategic transition. The move will expand Molins' operations in Europe and establish its first presence in Brazil.

Cyborg Score Rationale

Secil demonstrates robust operational performance with solid margins and consistent profitability. Between January and September 2025, Secil's profits amounted to €52.3 million (30.7% above prior year), turnover increased 7.2% year-on-year to €564.1 million, and EBITDA totalled €140.4 million with a margin of 24.9%. However, the pending acquisition introduces near-term uncertainty around ownership transition.

Top Insights

  • Acquisition by Cementos Molins expected to complete by March 2026 (Q1 2026), subject to regulatory approval.
  • Molins will welcome approximately 2,900 Secil employees upon deal completion.
  • Nearly €50 million invested in Maceira factory improvements (ProFuture) to increase energy efficiency in cement operations in Portugal.
  • Secil operates internationally in Portugal, Brazil, Lebanon, Cape Verde, Angola, and Tunisia.

Named Competitors

  • Cimpor — Leading Portuguese cement producer and competitor
  • Cementos Molins — Spanish cement and aggregates producer acquiring Secil
  • Holcim — Global cement and building materials company
  • LafargeHolcim — International cement and construction materials provider

Recent Developments

  • (December 2025) Acquisition agreement announced: Semapa to sell Secil to Spain's Cementos Molins for €1.4 billion.
  • (Q3 2025) Strong financial results: €564.1M revenue (+7.2% YoY), €52.3M net profit (+30.7% YoY), €140.4M EBITDA with 24.9% margin.
  • (2024) Investment of €68 million in fixed assets to strengthen cement division's future position.

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