Cosentino hits ‘record figures’ in 2016

The Cosentino Group saw “record” growth in 2016, despite economic uncertainty, it has reported.

Last year, Cosentino saw a 14% increase in total consolidated turnover, reaching €834 million (£730m), compared with the previous year.

The company said this growth was achieved despite the negative impact of varying exchange rates against the previous year, primarily due to the effect of Brexit.

In terms of profits, earnings before interest, tax, depreciation and amortisation (EBITDA) totalled €117m in 2016 – up 16.5% on 2015.

To date, the company has already implemented 45% of its 2016-2019 investment plan. In 2016, Cosentino began investing a total of €170m within the plan’s framework, which has a total budget of €380m.

Almost 80% of this will represent production investment aimed towards growth, as well as product and channel diversification.

The rest represents commercial investments aimed at maintaining the group’s international expansion process through the acquisition of new assets.

In 2016, nine new Cosentino Centres were opened in countries including the USA, Australia, Canada, Scotland and Denmark. It now owns more than 130 business units on over five continents and sells products in more than 110 countries.

The group also promised to create a total of 1,050 new jobs over the four-year investment plan.

In 2016, it created almost 300 new jobs, bringing its total number of worldwide employees to 3,600 at year-end.

For the current year, the group said it would continue to develop its large sales markets and predicted 18 commercial openings across four continents.

Its production investments in 2017 will be geared towards innovation and efficiency, based on new technologies, it added.

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