Cosentino Group, a manufacturer of surfaces for architecture and design, closed 2023 with a turnover of €1,570m (£1346m) which represents -8% compared to 2022, while net income reached €97.5m (£83.59m) a decrease of -17%.
In line with many other companies, these results reflect a normalisation of market conditions, which had increased exceptionally after the pandemic. Likewise, results have also been impacted by the exchange rate compared to 2022.
In terms of geographics, the company’s sales continue to come mostly from international markets, reaching 92%, the main markets being North America (the United States and Canada), which accounted for 57% of the turnover in 2023, followed by Europe (including Iberia), with 32%. Markets such as Latin America and MEA also performed well, gaining slightly in terms of sales distribution.
Despite the slowdown, the company says it has continued to make important investments totalling €112m euros in 2023, most of them for the Industrial Park in Cantoria (Almeria). Cosentino activated a third manufacturing line for Dekton, its “ultra-compact, carbon-neutral stone”, and completed the second phase of its photovoltaic plant with the installation of more than 27,000 solar panels on the roofs of its factories and warehouses. Investments were also made for the construction and activation of Cosentino’s urban wastewater regeneration plant.
In terms of investment in foreign commercial assets, Cosentino reportedly remains committed to its international growth and expansion plan. In 2023, the company opened eight “Cosentino City” stores around the world, including the relocation in London, as well as Boston, Seattle, Vancouver, Antwerp, Istanbul, Lisbon, and Sao Paulo. Additionally, five “Cosentino Center” locations were completed, including two in Italy, one in Lithuania, one in Poland, and in the US.
In relation to the main corporate areas, the company reportedly made relevant investments in environmental, health and safety assets, which amounted to €29m (£24.85m), while the investment in R&D&I assets and projects was €22m (£18.85m).
www.cosentino.com/en-gb
