Cosentino achieves record turnover and creates 685 new jobs in 2021
The company increased its turnover by 30% to €1,401 million, its EBITDA to €275 million and its net profit by 59%.
Cosentino made investments totalling €105 million, and increased its workforce for another year with the creation of 685 new jobs.
Cosentino Group achieved a record year in 2021 thanks to the pillars that underpin its business model: commitment to innovation and sustainability, human capital, its global logistics network and digital transformation. This growth was once again accompanied by a significant investment in the strategic areas mentioned above, as well as a strong job creation, reaching an all-time high in its number of employees, both globally and in Spain.
As a result, turnover grew by 30% to €1,401 million (€1,078 million in 2020), and the EBITDA was €275 million, including the application of IFRS 16, 29% higher as compared to the previous year. Finally, the company’s net profit increased by 59% to €104 million. At the same time, Cosentino continued with its ambitious investment plan, investing a total of €105 million in 2021, as well as strengthening its main asset, human capital, with the creation of 685 new jobs to reach a total workforce of 5,425 employees by the end of last year.
R&D and innovation, robotisation, industrial extensions and, especially, the circular economy and the commitment to a new energy model have been the key areas where investments were made. On the industrial side, the full implementation of the new production lines for Silestone® was completed in 2021. As for Dekton®, significant increases in productivity were achieved on its two current production lines, in addition to the construction of new buildings for line 3, scheduled to start operations in the middle of this year, and line 4. Simultaneously, the company improved the automation of production plants and implemented new R&D developments, which have resulted in major milestones such as the exclusive HybriQ® technology.
Furthermore, a new transversal Strategic Sustainability Plan that was approved in 2021 consolidated some of the company’s major current projects that totalled to an overall investment of more than €15 million in environmental and safety assets last year. Also noteworthy is the start of construction of what will be the largest industrial photovoltaic facility for self-consumption in Spain, with 35 MW peak power and an energy production capacity of approximately 58.2 GWh/year. The facility includes almost 37,000 solar panels, in addition to the installation of solar panels on the roofs of the factories. This project alone will involve a total combined investment of €24 million upon completion. Other initiatives in the pipeline include the future construction of its own Urban Wastewater Treatment Plant (EDAR by its acronym in Spanish).
Another hallmark of its business model is the extensive international presence based on its own assets. One of the largest logistics and distribution networks of a Spanish industrial company abroad with 142 company-owned facilities -including Centers and Citys-, 4 Hubs and 5 logistics operators worldwide. This strong presence in international markets was further increased in 2021 with the opening of new Cosentino Citys in cities such as Chicago, Atlanta, Tel Aviv, Palma, Stockholm and Sydney.
These results are proof of the strength of Cosentino’s business model, the strong commitment of its employees worldwide, and the successful strategy of diversification of markets and applications by products and channels. A business model based on flexibility and the ability to adapt to change has allowed the company to brace first months of this year that have constantly changing scenarios and a high level of uncertainty. However, both the current inflationary environment, including rising commodity and raw material prices, and geopolitical uncertainty, with its direct impact on the global economic outlook, will force a constant assessment and readjustment of forecasts for the current year.