Pamesa Group reports growth in consolidated turnover to 643 million euros

Revenues up by 10%, EBITDA of 90 million euros and investments of 70 million euros. Work is under way to build the largest roof-mounted photovoltaic plant for self-consumption in Europe.

Pamesa Group, Spain’s largest ceramic tile manufacturing business, registered further growth in consolidated turnover in 2018 to reach 643 million euros (up 10% from the 584 million euros of 2017). Some 71% of the group’s ceramic sector revenues were generated by exports, with total export sales amounting to more than 75 million sqm of tiles.

EBITDA likewise grew to 90 million euros despite the higher energy costs of 15 million euros. These strong margins will enable the group led by chairman Fernardo Roig to press on with its investment plans over the coming years. In 2018 the group invested 70 million euros in expanding production capacity and improving logistics, bringing total investments since 2014 to 250 million euros. This included construction of a 600,000 sqm materials storage area, a unit that will be entirely roofed over by 2019.

One of the year’s most significant individual investment projects (15 million euros) involved the installation of 40,000 photovoltaic panels on a total 70,000 sqm area on the roofs of the Onda logistics centres. With the capacity to generate a power of 13.24 MW, this is the largest stand-alone photovoltaic plant built for self-consumption in Europe. 100% of the energy generated will be used in the production facilities and according to estimates may meet entire demand during daylight hours. Due for completion by July 2019, the operation is part of Pamesa’s energy policy aimed at achieving maximum environmental sustainability of both processes and products. The photovoltaic roof will avoid the emission of 8,816 tonnes of CO2 to the atmosphere per year (equivalent to a consumption of 1.9 million litres of oil).

In 2018 Pamesa Group expanded its workforce by 9% to 1,907 employees. The outlook for 2019 is positive in terms of both revenues and profits.