Pamesa Group, Europe’s largest ceramic tile producer, posted 15% revenue growth, an EBITDA of Euro 104 million, and investments of Euro 90 million in 2019. It has also announced the acquisition of a 50% stake in Argenta Cerámica and Cifre Cerámica.
Pamesa’s consolidated turnover rose to Euro 704 million (+15% on 2018), driven by sales volumes of more than 80 million sq. metres.
The group invested Euro 90 million in 2019, bringing the total investments it has made since 2014 to Euro 343 million. Last year’s investments focused on plant modernisation with the aim of increasing production and logistics capacity, and improving energy efficiency.
In June 2019, the group acquired Vila-real based Keramex and undertook a major restructuring project aimed at significantly increasing the production capacity of the plant.
The group has also purchased 150,000 sq. metres of land in Castellón for the storage and treatment of imported raw materials.
The group has also continued to work on PV systems installed on the roofs of the group’s buildings. When completed later this year, the systems will attain a total expected power of 16 MW, enabling Pamesa to reduce its atmospheric emissions by more than 10,000 tons of CO2.
Pamesa has also expanded its workforce to 2,119 by taking on 212 new employees.
In 2020, the group led by Fernando Roig expects to see a further increase in revenues and margins, allowing it to continue its investment programme.
One of the most important of these new investments is the agreement announced on 10th February with Argenta Cerámica and Cifre Cerámica for the acquisition of a 50% stake in both companies.
These two Spanish tile brands posted an aggregate turnover of Euro 280 million in 2019, more than 10% up on 2018.
The Pamesa Group now comprises Pamesa Cerámica, Tau Cerámica, Navarti, Geotiles and Keramex. The group also owns Arcillas Atomizadas and Onda Cogeneración.
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