Cosentino Group Releases 2021 Financial Achievements

The company reports a $1.659 billion turnover, a $325 million EBITDA and a net profit increase of 59%, in addition to $124 million in investments and the creation of 685 new jobs

Cosentino Group, the Spanish global leader in the production and distribution of innovative and sustainable surfaces for the world of architecture and design, announces record growth for 2021, even while recovering from the consequences of the pandemic at an international level. Additionally, significant investments were made in key pillars that underpin the company’s business model: commitment to innovation and sustainability, human capital, and its global logistics network and digital transformation. These investments supported strong job creation, reaching an all-time high number of Cosentino employees, both globally and in Spain.

As a result, Cosentino reports a 30% turnover increase to $1.659 billion ($1.230 billion in 2020), its EBITDA as $325 million, including the application of IFRS 16 - 29% higher as compared to the previous year - and a net profit increase by 59% to $123 million. At the same time, the company continued its ambitious investment plan, investing a total of $110 million in 2021 and 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.

MILESTONE SUSTAINABILITY & INNOVATION INVESTMENTS

Sustainability is inherent to the DNA of Cosentino Group, leading to further investments in R&D and innovation, robotisation, industrial extensions, and, especially, the circular economy and a commitment to a new energy model.

On the industrial side, the company completed full implementation of new production lines for its Silestone® products and significantly increased productivity of its Dekton® production lines, in addition to constructing 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 2022 milestones such as its full Silestone production with its exclusive HybriQ® and HybriQ+ technology — an entirely new product composition and manufacturing method for Silestone with a newly debuted sustainable manufacturing process that uses 99% reused water, 100% renewable electric energy, zero water discharge and a minimum of 20% recycled raw materials within HybriQ+® products’ composition. 

A new transversal Strategic Sustainability Plan was also approved in 2021, which consolidates some of the company’s current projects and totaled to an overall investment of more than $17 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 nearly $30 million upon completion. Other initiatives in the pipeline include the future construction of Cosentino’s own Urban Wastewater Treatment Plant (EDAR by its acronym in Spanish).

WORKFORCE & CITY CENTER EXPANSIONS 

Beyond this tangible commitment towards a low-carbon economy and energy efficiency, as well as Cosentino’s focus on creating quality employment - with a 14% increase in its workforce in 2021 - the surfacing leader continued to invest in expanding its international presence. Cosentino has one of the largest logistics and distribution networks of a Spanish industrial company abroad, with 142 company-owned facilities -including Centers and Citys-, four Hubs and five 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.

Across the board, Cosentino’s 2021 results are proof of the strength of its business model, the strong commitment of its employees worldwide, and the successful strategies 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 pivot as needed within a year of rapid change and industry-wide 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 require a constant assessment and readjustment of forecasts for the current year.