Roca Group, a global leader in the bathroom industry, closed 2021 with a turnover of €2.053 billion, a 21.9% improvement over 2020. Optimization of processes, cost containment and a profitable AND sustainable growth strategy allowed the company to generate a net profit of 179 million euros, compared to 60 million euros the previous year. Ebitda, in turn, amounted to 401 million, an increase of 31%. The Group can therefore accelerate its sustainability-oriented investment plan and announce a plan to achieve carbon neutrality by 2045.
Roca Group's main market in terms of sales remained Spain (returning to the trend of sustained growth recorded since 2014). Sales increases in Brazil and India were also significant, despite the devaluation of local currencies. Performance in China, on the other hand, was impacted by the country's tightening credit policy and the resulting impediments to the operations of large developers and local distributors.
Roca Group CEO Albert Magrans, summarizing last year's financial results, stressed that: The commitment and effort of the entire Roca community allowed us to close 2021 very positively. He also added that: We were able to achieve this financial recovery despite operating in an environment of rising inflation, with an associated increase in energy and raw material costs. This is the result of the constant pursuit of excellence in all Group operations.
Roca Group announced its financial results for 2021
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Investments for 124 million euros
The company also increased its capital expenditures to 124 million euros, up from 106 million in 2020. The funds were mainly allocated to sustainability, innovation, digitization and Industry 4.0 activities.
In 2021, the Roca Group continued to grow and expand its influence. Among other things, it completed the purchase of a 75% stake in Valencia-based Royo Group, which operates in the bathroom furniture industry. This made it the world leader in this category. It also acquired the German company Sanit, which produces flush-mounted systems, and purchased a sanitary products factory in the state of Ceara in Brazil.
In addition, last year the company sold its tile division to Mexico's Lamosa Group, one of the world's largest producers of such products, in line with the Group's strategy to strengthen its position in the bathroom surfaces segment.
What's more, in 2021, the company established Roca Group Ventures, a corporate venture fund with a budget of €25 million to invest in start-ups and entrepreneurial projects related to the bathroom space - especially those that are environmentally friendly.
Roca Group announces carbon neutrality plan by 2045
The strong performance this year allows the Roca Group to continue investing in sustainability, promoting energy efficiency measures and reducing water consumption, waste generation and greenhouse gas emissions. The company has managed to reduce its carbon footprint by 25.9% over the past three years, despite an increase in sales and production over the period.
These efforts and investments are included in the announcement of a plan to achieve carbon neutrality by 2045. The commitment is in line with the Science Based Targets (SBTi) initiative, led by the UN Global Compact and supported by the Roca Group. SBTi lays out a strategy for companies to reduce emissions based on what climate scientists consider necessary to comply with the Paris Agreement (making efforts to limit global warming to 1.5ºC above pre-industrial levels).
Last year, the company also reduced other major environmental indicators, such as water consumption, which fell 25.7% compared to 2018. In addition, the Roca Group launched an integral water cycle audit process in 2021 to optimize water circulation and minimize consumption of this resource.
About Roca Group
Roca Group is a company that designs, manufactures and sells bathroom products. It was founded in 1917. It combines tradition and knowledge with a passion for innovation, while placing great emphasis on respect for the environment to meet customer demands and contribute to the well-being of society.
With sustainability and the well-being of future generations in mind, the Roca Group implements this corporate culture in the 170 countries in which it operates and in its 77 factories, through the daily commitment of more than 21,500 employees.
The family-owned company has leading market positions in Europe, Latin America and India. It also has a clear presence in Asia, the Middle East, Australia or Africa. This makes it a global leader in its industry.
For more information, visit the company's ROCA Polska Sp.z o.o. page on the A&B portal.
