Roca Group closes the 2023 financial year with a turnover of 2,057 million euros. This year was marked by a slowdown in new construction due to high interest rates and changes in the consumer behaviour, which in a post-pandemic context prioritised the consumption of other types of goods, services and leisure over home refurbishment. This complicated situation was further aggravated by inflationary pressure and the consequent reduction in commercial margins. In this context, EBITDA amounted to 318 million euros, equivalent to 15% of revenues, and net profit was 27 million euros, heavily impacted by the hyperinflation adjustment in the Argentinian subsidiary.
153 million euros of investment, 13% more than in 2022
The company increased its investment effort to 153 million euros, compared to the 135 million euros investment in 2022. These resources were mainly allocated to expanding and improving the production capacity of factories, strengthening the Competence Centres, digitalisation and development of new products, and moving forward the milestones set out in the sustainability roadmap, as well as in updating facilities and showrooms (Roca Galleries and Laufen Spaces, among others).
In 2023, Roca Group also committed to strengthening its position in the premium bathroom furniture segment with the acquisition of Madeli in the United States. It complemented its portfolio in bathtubs and shower trays with the purchase of Clarke (also in the USA) and, in the premium steel washbasin market, incorporated into the group the German company Alape. These operations have enabled the company to remain at the forefront of technology in each category, consolidating its Competence Centres model initiated last year.
Sustainability: Towards net-zero emissions by 2045
Roca Group goes on with its commitment to sustainability from an integral point of view, encompassing all its operations. By the end of 2023, it achieved a 50% reduction in its Scope 1 and 2 CO2 emissions compared to 2018, as well as halved the waste generated in the same period. The intensity of energy use in its operations (the energy required to produce a given output) has been reduced by 57% compared to the same year. The development of the Water Neutrality and Circularity plans contributed, also, to fulfil the group's sustainability roadmap.
Two new investments by Roca Group Ventures
Roca Group Ventures platform continues promoting collaborations and investments with start-ups that drive innovation and the evolution of the sector, with €25 million of committed investment for emerging companies that contribute to innovation and propel the sector and the industry.
Precisely this week, the fund announced its investment in two new projects. First, in the Spanish company KMINA: a manufacturer of products to aid reduced mobility, which also develops and distributes products for the prevention of domestic accidents and to facilitate the use of the bathroom space. Second, Roca Group Ventures is investing in Boon, Indian water tech start-up that develops, manufactures, and distributes AI-enabled smart and sustainable water purifiers for offices, hotels, and resorts.
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Roca Group
www.rocagroup.com