Monday, May 23, 2022
More

    Roca Group Earned 12% Less Last Year

    The Roca Group earned 60 million in 2020, 12% less than in 2019, which attributes to the fact that sales were “strongly affected” during the first half of last year due to the pandemic .

    The company has reported that it had a turnover of 1,684 million euros in 2020, 9.5% less, and points out that, despite the economic crisis, the operating result reached 306 million, 21% more.

    Roca Group’s net result was affected by the strong increase in non-operating expenses , derived from temporary closures and periods of less activity in production plants during lockdowns due to the coronavirus, explains the company.

    It also indicates that the restrictive measures to curb the virus caused a decline in sales -especially in Spain-, breaking “the sustained growth trend that had been maintained since 2014.”

    Roca Group is optimistic about the coming months, since “in the second half of the year a progressive recovery began”. Despite the decrease in profit and turnover, Roca Group highlights “the positive behavior of operations in China, Germany, Austria, Poland and Switzerland , whose evolution managed to partially offset the decrease in turnover in other countries” .

    Although “the evolution of turnover in the BRIC markets as a whole was also singularly affected by the depreciation of local currencies, particularly in Brazil and Russia.” In 2020, Roca Group made investments worth 106 million euros, mainly aimed at expanding its production capacity in Brazil, Russia and China.

    The group’s CEO, Albert Magrans, underlined “the commitment, effort and professionalism of the entire workforce, in a context of exceptionality and great difficulties”.

    “Despite this complicated environment, we have once again generated the necessary resources to continue gaining efficiency and optimizing the performance of our investments, promoting technology, innovation and digital transformation and advancing in our sustainability strategy to be a global benchmark in this matter, “he added.

    In this 2020, Roca Group has acquired 75% of Royo Group and has incorporated a sanitary ware plant in the northeast of Brazil, as well as has bought the German firm Sanit .

    Recent Articles

    Related Stories