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Tiles

Faetano-Del Conca: turnover up 25% in first quarter of year

Jul 17, 2003
17/07/03 - In spite of the difficult economic situation, the Faetano-Del Conca Group, one of the top 10 Italian ceramic manufacturers, reported strong growth in the first quarter of 2003, 25% up on the same period last year.

The good result follows the successful integration of Pastorelli (acquired at the end of last year) and the securing of a major contract in the first few months of this year to supply tiles for all the new shops in the StarBucks chain of coffee houses.
The chain is growing rapidly in the USA and is also expanding into Europe and the rest of the world (1,100 new shops were opened in 2002). The value of the contract will amount to 10 million euro over the next five years.

The San Marino-based Group, made up of two production companies (Ceramica Faetano and Ceramica Del Conca), three commercial companies (Produco srl, Imso srl, Del Conca USA), a holding company (Fintile) and a trust (Cino Mularoni), expects to achieve a 30% growth in aggregate turnover by the end of 2003 to reach 115 million euro.
2002 was a positive year for the Group with an aggregate turnover of 85 million euro, 16% up on 2001.

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