Cosentino achieves a consolidated turnover of 1,570 million euros and invests 112 million euros in 2023

Cosentino Group, global leader company in the production and distribution of sustainable surfaces for architecture and design, closed 2023 with a turnover of 1,570 million euros (-8% compared to 2022, approx. -6% at comparable exchange rates). The EBITDA amounted to 279 million euros (-11% compared to the previous year, -4% at comparable exchange rates), and net income reached 97.5 million euros (-17%).

These results reflect the normalization of market conditions, which had increased exceptionally after the pandemic - with a general increase in real estate reforms - recovering last year to levels similar to 2021, which accounted for a turnover of 1,401 million euros. Likewise, results have also been impacted by the exchange rate compared to 2022.

The turnover has counted on a compound annual growth rate of 9% since 2019, with a growth of more than 40% compared to the last pre-covid year. As for EBITDA, the compound annual growth rate since 2019 has been 9.4%, even higher than sales, demonstrating sustained and profitable growth.

In terms of geographics, the company's sales continue to come mostly from international markets, reaching 92%, the main markets being North America (the United States and Canada), which accounted for 57% of the turnover in 2023, followed by Europe (including Iberia), with 32%. Markets such as Latin America and MEA also performed well, gaining slightly in terms of sales distribution.

As far as the performance of product brands, Dekton® stands out as it managed to grow 14% compared to the previous year. Particularly noteworthy is its growth in North America, with a year-over-year growth of close to 50%. This upward trend places the brand at almost 30% of the company's total turnover. Silestone® hybrid mineral surface remains the most renowned brand, accounting for 62% of sales for the year.

Despite the slight slowdown due to the figures normalization, the company has continued to make important investments totaling 112 million euros in 2023, most of them for the Industrial Park in Cantoria (Almeria). Cosentino activated the third manufacturing line for Dekton®, its ultra-compact, carbon-neutral stone, and completed the second phase of its photovoltaic plant with the installation of more than 27,000 solar panels on the roofs of its factories and warehouses, which increased electricity production capacity for self-consumption to 35MW/peak. Investments were also made for the construction and activation of Cosentino’s urban wastewater regeneration plant.

In terms of investment in foreign commercial assets, Cosentino remains committed to its international growth and expansion plan. In 2023, the company opened 8 "Cosentino City" stores around the world, including the relocation in London, as well as Boston, Seattle, Vancouver, Antwerp, Istanbul, Lisbon, and Sao Paulo. Additionally, 5 new "Cosentino Center" were completed, including two in Italy (Bari and Catania), one in Lithuania (Vilnius), one in Poland (Poznan, the third in the country), and in the U.S., in Boise, Idaho, marking the 41^st location in North America region.

In relation to the main corporate areas, the company once again made relevant investments in environmental, health and safety assets, which amounted to 29 million euros, while the investment in R&D&I assets and projects was 22 million euros.

Last year, the company generated significant quality employment with the creation of 188 new jobs, closing the year with a total of 6,039 employees. Of these, 58% are located in Spain, more specifically at Cosentino's headquarters and Industrial Park in Cantoria (Almeria). The percentage of employees with permanent contracts remains above 95% for another year.

Finally, as part of the company’s responsibility towards the social and economic development of the countries in which it operates, and aware that responsible taxation and taxes support this, in 2023 Cosentino maintained an effective global contribution through the payment of 33 million euros of its own taxes (mainly corporate income tax, customs duties and other taxes), and collected 338 million euros of taxes from third parties (mainly VAT and withholdings) generated by the development of its economic activity.

Investment Plan 2024-2026

Over the next three years, the company will maintain an investment rate like previous comparable periods, and anticipates to add 400 million euros in investment. This plan focuses on four main investment areas: (i) expansion of production capacity in Spain; (ii) opening new commercial assets around the world, mainly "Cosentino City"; (iii) reinforcement of the commitment to sustainability and innovation; (iv) and finally, starting the new manufacturing infrastructure in the United States.

This entire investment plan will be marked, on the industrial side, by a model of excellence that seeks to maximize safety, efficiency, and quality. In turn, commercial growth will be guided by a continued commitment to digital transformation, both in the company's internal processes and in the relationship with its entire commercial ecosystem.