Cosentino: 2023 Revenues of $1.7 Billion
CORAL GABLES, Fla. – Cosentino Group closed 2023 with revenues of $1.7 billion and a net income of $105 million.
In its year-end report, the company also reported it invested more than $121 million in expansion, product innovation and the creation of 188 jobs.
Significant investments were made in several key areas, including its global logistics network and digital transformation. The resulting strong job creation brough the total of Cosentino employees worldwide to more than 6,000 for the first time.
The brand’s EBITDA (earnings before interest, taxes, depreciation, and amortization) totaled $302 million dollars, with a net income of $105 million. The company attributes these numbers to a leveling of market conditions, falling more in line with the conditions of 2021, which accounted for $1.5 billion in revenues.
Income, counted on a compound annual growth rate of 9% since 2019, has been 9.4 % — even higher than sales, demonstrating sustained and profitable growth.
Cosentino’s sales continue to come mostly from international markets. The United States and Canada accounted for 57% of revenue in 2023, followed by Europe at 32%..
Cosentino’s Dekton® reports a worldwide growth rate of 14% compared to the previous year. Particularly impressive is Dekton’s growth in North America, with a year-over-year growth rate of close to 50%.
This trend places the Dekton brand at almost 30% of the company’s total sales. Silestone®, Cosentino’s hybrid mineral surface, remains the most popular brand, accounting for 62% of sales last year.
The $121 million in investments focused on the company’s industrial park in Cantoria, Spain. Sustainability is important to the Cosentino Group, and the company invested in R&D and innovation, robotization, industrial extensions, and especially the circular economy and a commitment to a new energy model.
Cosentino activated its third manufacturing line for Dekton and completed the second phase of its photovoltaic plant with the installation of more than 27,000 solar panels on the roofs of its factories and warehouses, increasing electric production to 35MW. Investment was also made for the construction and activation of Cosentino’s urban wastewater regeneration plant.
Investment in foreign commercial assets also remained critical to Cosentino in 2023. The company opened eight “Cosentino City” stores around the world, including Boston, Seattle, and Vancouver in North America. Five new “Cosentino Centers” were also completed, including one in Boise, Idaho. The Boise location is the 41st in North America.
With the creation of 188 new jobs last year, Cosentino now employs 6,039 people. Of those, 58% are located in the company’s home country of Spain, particularly at its headquarters and industrial park in Cantoria.
Over the next three years, the company will maintain investment rates of approximately $433 million. This plan focuses on expansion of production capacity in Spain; opening new commercial assets around the world, mainly “Cosentino City” stores; reinforcement of its commitment to sustainability and innovation, and; starting new manufacturing infrastructure in the United States.
Cosentino Group is a global family-owned company that produces and distributes innovative surfaces for architecture and design. It currently distributes its products and brands in more than 120 countries. Cosentino North America is based in Coral Gables.
