Roca Group’s Net Profit Down 12% In FY2020

Roca Group’s Net Profit Down 12% In FY2020

According to Spanish media reports, Roca Group‘s net profit in 2020 was 60 miliona, down 12% year-on-year, due to the pandemic impact. Roca reported an operating income of €1,684 million for the 2020 financial year, a decrease of 9.5% year-on-year. However, the EBITDA before tax, interest, depreciation, and amortization reached 306 miliona, an increase of 21% year on year.

The company explained that the Roca Group’s net profit was impacted by a significant increase in non-operating expenses, which were due to the temporary blockade caused by the pandemic and reduced activity during the shutdown. The embargo led to a decline in sales – particularly in Spain – breaking “a sustained growth trend that had been in place since 2014”.

Despite the decline in profit and turnover, the Roca Group stressed that “the positive performance of the business in China, Njemačka, Austria, Poland and Switzerland successfully offset the decline in turnover in some other countries”.

Despite this complex environment, we have once again generated the necessary resources to continue gaining efficiencies and optimizing our return on investment, driving technology, innovation and digital transformation,” said Roca’s CEO. We are making progress in our sustainability strategy to become a global benchmark in this field,” he added.

In 2020, the Roca Group invests €106 million, mainly to expand its production capacities in Brazil, Russia and China. In 2020, the Roca Group acquired a 75% stake in the ROYAL Group and a bathroom factory in northeast Brazil, followed by the acquisition of the German company Sanit.

Visit More News at Viga.cc News