Cosentino Group Stays Strong in 2020 Revenue
CANTORIA, Spain – Cosentino Group barely fell short last year of equaling its 2019 revenues … and, given the agonizing effect of COVID-19 on worldwide business, that’s an accomplishment.
The Spanish surfacing company reports income (or turnover) of $1.267 billion for 2020 for its worldwide operations in natural stone, quartz surfaces and ultracompact surfaces. That’s a decline of less than 3% from 2019, despite the worldwide effects of the pandemic and the two national states-of-emergency declared in its home country of Spain.
However, Cosentino’s 2020 earnings before interest, taxes, depreciation, and amortization (EBITDA) came to $244 million after adjustments for international financial reporting standards regulations concerning leases. That’s a record annual earnings amount for the company.
Cosentino’s net profit for 2020 totaled $74.5 million.
Cosentino responded to the pandemic last March when it promoted home working, whenever possible, through a system of rotating shifts. The company also reaped the benefits of its ongoing digitalization program; last year, it served more than 50,000 industry professionals and processed more than 80% of its orders through its digital platform.
The company also used automation and digitization to increase production of its Silestone® quartz surfaces by 30%.
In 2020, the company invested $25 million worldwide in environmental and safety assets, such as new extraction and emission cleaning systems, heat regeneration systems, new methods of storage and pneumatic transport of raw materials, and the expansion of water treatment systems for recycling. The work with Dekton® production led to its classification as a Carbon Neutral Product last year,
The company opened new Cosentino Centers last year in Ottawa, Winnipeg, and Rio de Janeiro, and upgraded customer operations in Strasbourg, France; Lazio, Italy; Berlin; and Sydney. It also opened new digital-geared showrooms in Barcelona, Tel Aviv and Amsterdam, and expanded its logistics network with a new Hub on the U.S. West Coast.
Cosentino ended 2020 with a total of 142 business and sales units spread over five continents with 118 Centers, 15 City locations, four distribution hubs (three in the United States and one in Australia), and five logistics operations.
Cosentino also has 12 U.S. production facilities.
At the end of 2020, the company had an international workforce of 4,740 employees – only 40 less than at the end of 2019 – with 2,600 based in Spain.
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