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The Cosentino Group continues to strengthen its economic position as well as its sustainable growth strategy due to its continuing focus on innovation, new technologies and efficient management. Following this strategy, the multinational has, to date, already implemented almost 45% of its 2016-2019 Investment Plan.
In 2016, Cosentino began investing a total of 170 million euros within the Plan’s framework which has a total budget of 380 million euros, of which almost 80% represent production investment aimed towards growth as well as product and channel diversification. The remainder represents commercial investments aimed at maintaining the Group’s international expansion process through the acquisition of new assets.
The Group’s industrial park in Cantoria (Almería, Spain) has been the recipient of a large share of the investments implemented thus far, mainly concentrated on the construction of a second production plant for the innovative ultra-compact surface product Dekton®, and on the development of new automated logistics facilities. This new infrastructure, which is at the leading edge of the sector and is on a major industrial scale, is rounded out by new polishing lines for Silestone® and improvements for other existing production lines which will release new product ranges onto the market. These investments are in the final stages of implementation and will become operational in the following months of this year.
This investment-based approach, which aims to consolidate Cosentino’s position as a leader and lay the foundations of the company’s future model, is largely possible due to the Group’s financial strength, as shown by the audited data from the 2016 fiscal year. Last year, The Cosentino Group achieved a total of 834 million euros in Consolidated Turnover which represents an increase of over 14% compared to 2015, and maintains the challenge of continuing this double-digit annual growth over the next three years. This growth was achieved in spite of the negative impact of varying exchange rates against the previous year, primarily due to the effect of Brexit.
Regarding the EBITDA, the company achieved a result of 117 million euros in 2016, reflecting growth of 16.5% compared to the previous year. In this case, the negative impact of the exchange rates was even greater, and had the exchange rates remained constant from 2015 the corresponding growth rate would have been 23%.
Lastly, Net Benefit showed a very positive evolution, rising to 43.3 million euros; this represents a very high increase compared to 2015 when the Group’s Net Benefit was 14.8 million euros.
The total number of Group employees at the end of the 2016 fiscal year exceeded 3,600 worldwide, in line with Cosentino’s mission for training and the generation of opportunities and employment. At the time of writing, this number had already risen to 3,750 employees. Last year, Cosentino created almost 300 new jobs.
The previously mentioned 2016-2019 Investment Plan envisages the creation of an estimated total of 1,050 jobs across the complete four-year Investment period.
Finally, on a commercial level, 2016 saw the opening of nine Cosentino Centres in countries including the United States, Australia, Canada, Scotland and Denmark, once again clearly showing the company’s vision of continued growth on an international scale. Currently, the group owns more than 130 business units, spread over five continents, and sells products in more than 110 countries. These sales are carried out through the Group’s own assets in 30 of these 110 countries.
In the current year, along with the finalisation and implementation of the investments started in the previous year, the Group will continue to develop its large sales markets, with a predicted 18 commercial openings on four continents. 2017’s production investments will be geared towards innovation and efficiency, both in the automation and robotisation of manufacturing processes, and in product development. This approach, based on new technologies, will also be important to accelerate the process of digitalising and automating the Group. All this is aimed towards continually implementing, today, what will become the company’s future model for the coming years.