Introduction
The year 2023 has once again confirmed we live in a historical era of unpredictability. Changes occur due to global political and socioeconomic instability, technological advances, climate change and demographic trends.
In this challenging context, our expansion as a global company continues to be in line with our dedication to leadership and sustainable growth. We remain steadfast in our long-term corporate strategy, honoring the entrepreneurial and independent spirit that characterize our family company, a perspective that has allowed us to overcome multiple adversities.
A commitment to sustainable development has guided Roca Group’s progress for more than 105 years, and in 2023 we achieved significant new milestones in our aim to create positive impact in three broad areas: People, Planet and Prosperity.
People
We continue to implement policies and allocate resources to ensure a diverse and high-quality work environment for the nearly 20,000 people who make up our team. We have restructured Roca Group Corporate University, updated our Code of Ethics and implemented our Diversity, Equality and Inclusivity Policy to promote a collaborative work model and a stable workplace atmosphere built on the highest standards in safety and health.
We continue to facilitate dialogue with our various stakeholders through spaces open to society all over the world, for instance, at the new Roca São Paulo Gallery. In addition, we are meeting hygiene and sanitation needs in emergency areas and disadvantaged communities through the social and environmental activism of the We Are Water Foundation, with growing impact year after year as it shares know-how and raises awareness on the culture of water.
Planet
Our commitment to the Planet is perfectly exemplified in the commissioning of the world’s first electric kiln for the production of ceramic sanitaryware. This initiative offers the ceramic industry the possibility of emissionfree production, thus taking the lead in the decarbonization of industries traditionally requiring heavy fossil fuel usage. This project marks another significant milestone in our decarbonization plan and moves us closer to our ambition to reach net-zero emissions by 2045. In 2023, we are proud to have already reduced our scope 1 and 2 emissions by 50% in the past five years.
Consistent with the same spirit of leadership in the sustainable transition of our industry, we have implemented our circularity and water neutrality roadmaps, setting up initiatives around the world and defining ambitious goals with various time horizons.
Prosperity
In 2023, the number of new construction projects have continued to drop, held back by high interest rates. This circumstance, along with changes in users’ behavior patterns, has continued to weaken refurbishment demand in residential homes. In this context, further impacted by inflationary pressures and the resulting decrease in retail margins, we achieved a turnover of 2,057 million euros, an EBITDA of 15.5% and net profits of 27 million. Concurrently, we have increased the volume of our current investments to 153 million euros, in order to continue to meet future challenges decisively.
This year, we have welcomed the teams at Madeli (bathroom furniture), Clark (bathtubs and shower trays) and Alape (premium washbasins in steel), acquisitions that have enriched our know-how and technology in their respective categories, strengthening our Competence Center model. The Roca Group Ventures platform continues to foster collaborations and investments with startups that drive innovation and progress in the industry.
The Board of Directors would like to express our appreciation for the effort, engagement and commitment shown by Roca Group’s 19,768 workers and for the trust shown by our customers, suppliers, shareholders and other stakeholders. Each and every one is essential to our model, characterized by corporate values that have been redefined this year.
We are building the future together. We are entrepreneurs. We are committed to people and we work as a single team that grows through its diversity. Because the impact of Roca Group is the sum of each and every one of our actions. Together we make the difference. Together, we are Roca Group.
SANTIAGO DE GOMAR ROCA
Chairman
Introduction
The year 2023 has once again confirmed we live in a historical era of unpredictability. Changes occur due to global political and socioeconomic instability, technological advances, climate change and demographic trends.
In this challenging context, our expansion as a global company continues to be in line with our dedication to leadership and sustainable growth. We remain steadfast in our long-term corporate strategy, honoring the entrepreneurial and independent spirit that characterize our family company, a perspective that has allowed us to overcome multiple adversities.
A commitment to sustainable development has guided Roca Group’s progress for more than 105 years, and in 2023 we achieved significant new milestones in our aim to create positive impact in three broad areas: People, Planet and Prosperity.
People
We continue to implement policies and allocate resources to ensure a diverse and high-quality work environment for the nearly 20,000 people who make up our team. We have restructured Roca Group Corporate University, updated our Code of Ethics and implemented our Diversity, Equality and Inclusivity Policy to promote a collaborative work model and a stable workplace atmosphere built on the highest standards in safety and health.
We continue to facilitate dialogue with our various stakeholders through spaces open to society all over the world, for instance, at the new Roca São Paulo Gallery. In addition, we are meeting hygiene and sanitation needs in emergency areas and disadvantaged communities through the social and environmental activism of the We Are Water Foundation, with growing impact year after year as it shares know-how and raises awareness on the culture of water.
Planet
Our commitment to the Planet is perfectly exemplified in the commissioning of the world’s first electric kiln for the production of ceramic sanitaryware. This initiative offers the ceramic industry the possibility of emissionfree production, thus taking the lead in the decarbonization of industries traditionally requiring heavy fossil fuel usage. This project marks another significant milestone in our decarbonization plan and moves us closer to our ambition to reach net-zero emissions by 2045. In 2023, we are proud to have already reduced our scope 1 and 2 emissions by 50% in the past five years.
Consistent with the same spirit of leadership in the sustainable transition of our industry, we have implemented our circularity and water neutrality roadmaps, setting up initiatives around the world and defining ambitious goals with various time horizons.
Prosperity
In 2023, the number of new construction projects have continued to drop, held back by high interest rates. This circumstance, along with changes in users’ behavior patterns, has continued to weaken refurbishment demand in residential homes. In this context, further impacted by inflationary pressures and the resulting decrease in retail margins, we achieved a turnover of 2,057 million euros, an EBITDA of 15.5% and net profits of 27 million. Concurrently, we have increased the volume of our current investments to 153 million euros, in order to continue to meet future challenges decisively.
This year, we have welcomed the teams at Madeli (bathroom furniture), Clark (bathtubs and shower trays) and Alape (premium washbasins in steel), acquisitions that have enriched our know-how and technology in their respective categories, strengthening our Competence Center model. The Roca Group Ventures platform continues to foster collaborations and investments with startups that drive innovation and progress in the industry.
The Board of Directors would like to express our appreciation for the effort, engagement and commitment shown by Roca Group’s 19,768 workers and for the trust shown by our customers, suppliers, shareholders and other stakeholders. Each and every one is essential to our model, characterized by corporate values that have been redefined this year.
Because we build the future together, we are entrepreneurs and we are committed to people, fostering a trusting and respectful environment, and working as a single team that grows out of its diversity. Because the impact of Roca Group is the sum of each and every one of our actions and, together we make the difference. Together, we are Roca Group.
SANTIAGO DE GOMAR ROCA
Chairman
