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 again in 2022 with sales totaling more than $1.8 million (€1,711 million), a 22% increase from 2021. Cosentino’s EBITDA increased by 13% to more than $343 million (€312 million) while its net profit increased by the same percentage to more than $128 million (€117 million). These results are due continuous investments in innovation, sustainability, human capital, digital transformation and the diversification of markets, product applications and sales channels.
Despite global economic uncertainty and higher inflation, Cosentino was able to deliver sustained double-digit growth within key areas in 2022, similar to those of previous years. With a total of 92% of its revenue coming from international markets, North America (the United States and Canada) remains a key driver for Cosentino’s growth and makes up 59% of its revenue. Amidst this sustained growth, the company continues to focus on quality employment for its 5,851 employees and created 426 new jobs in 2022. 98% of Cosentino’s total employees have permanent contracts, seven percent more than in 2021.
Cosentino made investments totalling more than $217 million (€197 million) in 2022 (+88% compared to 2021). Approximately 80% of this was industrial investment dedicated to the consolidation, expansion and improvement of its facilities in Cantoria (Almeria). In terms of key business areas, investment in R&D&I assets and projects totaled more than $29 million (€27 million), while for environmental and safety assets it surpassed $40 million (€37 million).
To support rising demand for Dekton, an ultra-compact and cradle-to-grave carbon neutral surface, Cosentino made a significant investment of more than $154 million (€140 million) to construct the world’s largest production plant that is equipped with advanced machine technologies for large-scale production, a circular economy, and energy efficiency. This project also involved the expansion of the automated logistics platform.
With sustainability inherent to the DNA of Cosentino, the company created the largest onshore industrial photovoltaic plant for self-consumption in Spain with a capacity of 20 MW peak that covers an area of approximately 3.5 million square feet. Additionally, Cosentino expanded its waste management plant and the construction of a municipal wastewater treatment plant (ERAR), along with various measures to improve energy efficiency and the study of other renewable energy sources.
In the area of research, development and innovation, the company made significant progress in the digital transformation of its manufacturing processes through industry 4.0 and the use of data, as well as in the development of advanced analytics, such as AI tools, that are used in several business areas. Innovation projects occurred throughout 2022 in order to reduce its carbon footprint by improving the sustainability of production processes, reducing the consumption of water and energy resources, and increasing the use of recycled waste in the composition of its products.
Other main investments included expanding and strengthening the company's international presence, with a focus on growing its own sales and commercial resources. Now, the company has 144 owned facilities (both “Cosentino Centers” and “Cosentino City”) and 6 logistics platforms spanning all five continents. This includes new “Cosentino City” openings in Malaga, Paris, Stockholm, Tokyo and Washington, and new “Cosentino Centers” in Tenerife, Gran Canaria and Oklahoma.
As a testament to the company’s commitment towards being responsible when it comes to contributing to the social and economic development of the countries in which it operates, Cosentino made an impactful global contribution in 2022 by paying more than $64 million (€59 million) in taxes (mainly corporate income tax, customs duties and other taxes), and collecting more than $385 million (€350 million) in taxes from third parties (mainly VAT and withholdings) generated by the development of its economic activity.
2023-2025 Investment Plan
For the next three years, the company's strategic plan foresees continuing to make significant investments to support expected growth, with an estimated volume of approximately $441 million (€400 million) over the 2023-2025 period. The majority of these investments will focus on the expansion and growth of sustainable and energy efficient production capacities.
In terms of environmental initiatives, noteworthy developments include the completion of the wastewater treatment plant (ERAR), along with the completion of the second phase of the photovoltaic energy production plant, which involves the placement of 27,000 solar panels on factory roofs to expand capacity by 15 MW/peak. Finally, the internationalization process will continue at a steady pace with more than 50 new openings expected to take place over the next three years, focusing primarily on Europe and North America.
As in previous years, Cosentino constantly analyzes the global environment, which is marked by a high level of macroeconomic uncertainty and geopolitical instability, both of which have a direct impact on the global outlook. With this in mind, and in order to attain sustained growth and bolster its economic competitiveness, the company will consistently adapt its forecasts, while prioritizing investment as a key lever.
To learn more, click here.
