Roca Group, the Catalan company leader in sanitary porcelain for the bathroom, closed the 2023 fiscal year with sales of 2,057 million euros and a net profit of 27 million euros. Both figures are lower than those achieved in the previous fiscal year as a consequence of various factors, among them, the economic crisis in Argentina. Despite the decrease in profitability, the family-owned industrial group has intensified its investments and its strategy of acquiring companies that allow it to reinforce its leadership in the bathroom sector and strengthen itself in key market niches in various countries.
Specifically, in 2023, Roca opted to strengthen its positioning in the premium segment of bathroom furniture 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 sink market, it incorporated the German company Alape into the group. "These operations have allowed Roca to remain at the forefront of technology in each of the categories, consolidating its Competence Centers model initiated last year," highlights the group.
In parallel, the Barcelona-based multinational has invested in two new emerging companies through the Roca Group Ventures platform, through which it channels the acquisition of stakes in start-ups that drive innovation and the evolution of the sector, with 25 million euros of committed investment. Thus, this same week, the fund has announced its entry into 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 bathroom space. Its products are designed for people with different needs, such as the elderly or dependents. On the other hand, Roca Group Ventures has invested in Boon, an Indian start-up expert in AI applied to water technology, which develops, manufactures, and distributes smart and sustainable water purifiers for offices, hotels, and resorts. These purifiers have connected functions to improve water quality and perform predictive analysis for service, eliminating the need to use plastic bottles, reducing waste and carbon emissions.
Industrial investments increased by 13% last year, reaching 153 million, these resources were mainly allocated to the expansion and improvement of the productive capacity of factories; to the reinforcement of the so-called Competence Centers; to digitalization and the development of new products, and to the fulfillment of the milestones set in the sustainability roadmap, in addition to the updating of facilities and showrooms, such as the Roca Galleries and Laufen Spaces centers.
Turnover decreased a slight 1.67%, to 2,057 million euros, in a year marked, according to the company, by the paralysis of new construction due to high interest rates and "changes in consumer behavior, who in a post-pandemic context prioritize the consumption of other types of goods and services over home renovation." "This complicated situation has also been aggravated by inflationary pressure and the consequent reduction of commercial margins," Roca said in a statement. In this context, EBITDA stood at 318 million, an 11% decrease, equivalent to 15% of turnover, and net profit fell 35%, to 27 million, strongly impacted by the hyperinflation adjustment in Argentina of 37 million euros.
With commercial presence in 170 markets and 79 factories worldwide, Roca Group employs 20,000 people and has set the goal of achieving net zero emissions by 2045. By the end of 2023, it had achieved a 50% reduction in its Scope 1 and 2 CO2 emissions compared to 2018, as well as half of the waste generated in the same period. The energy intensity of its operations (the energy needed to manufacture a given production) has been reduced by 57% compared to the same year.
On this path towards improving sustainability, the multinational has launched this year the world's first electric tunnel kiln for the production of sanitary ceramics at the Gmunden plant (Austria), "an unprecedented milestone ---highlights the group--- that leads the paradigm shift, both in sanitary ceramics and in other ceramic sectors." The implementation of this technology makes the Gmunden plant the first in the world dedicated to the production of sanitary ware with net zero emissions.