Cosentino Posts $1.5 Billion in 2024 Revenues
CANTORIA, Spain – Cosentino Group reports that it closed 2024 with revenues of $1.5 billion, down 6.7% in 2023.
The Spanish surfacing company recorded an EBITDA of $259 million, off 14% from the previous year. Net income for the company reached $71 million.
Company officials say the results reflect the continuing normalization of the market following the post-pandemic increase, especially in 2022.
The slight contraction is also influenced by uncertainty and volatility in the global economy in 2024. The report cites an inflationary environment, geopolitical tensions and trade fragmentation among other factors.
The company’s sales – 92% of revenue — continue to come mostly from international markets, with 56% of that share coming from North America, mainly the United States and Canada. Europe, represents 33% of the company’s sales.
Notable for growth between 2023 and 2024 is the Middle East and Asia, where sales increased by more than 30% last year.
Also noteworthy is the evolution of Cosentino’s Hybriq+® technology, which allowed the company to reach 100% Silestone® production with a content of less than 40% silica in 2024. The Silestone® XM line also launched, featuring a greater presence of recycled raw material and between 0% and 10% silica in its composition.
Despite its decrease in sales last year, the company maintained its investment commitment with $94 million executed in 2024. Of that, $30 million was devoted to environmental, health and safety assets, while $17 million went toward R&D&I.
The company is immersed in its three-year investment plan which foresees investing more than $470 million between now and 2027. The plan will focus primarily on expanding the production capacity and efficiency of its industrial facilities, as well as opening new commercial assets globally.
Major recipients of those investment funds include the development of a fourth Dekton® production line and the expansion of its Automated Logistic Platform at the Cosentino Industrial Park in Cantoria.
Cosentino will also continue work on its manufacturing infrastructure project in Jacksonville, Fla., which is estimated to cost more than $250 million over the next five years.
The company is also continuing its investment in the Circular Technology Quarry (CTQuarry ) project which is a pioneering industrial-scale plant to produce innovative raw materials for the European Union construction, glass and ceramic sectors.
To strengthen its market presence, Cosentino has five new Cosentino Cities set for opening this year in Gothenburg, Sweden; Manchester, England; Monterrey, Mexico; and the U.S. cities of Dallas and Richmond, Va.
Complementing those will be a new commercial asset model launching this year called Cosentino Studio. The initial locations for these combination showroom and workspace areas will be in the United States and Spain.
Cosentino is a global family-operated company that distributes its products in more than 120 countries from its headquarters in Almeria, Spain. It operates nine factories, an intelligent logistics platform and more than 160 commercial and business units throughout the world.
