Grupo Lamosa’s 2023 results reflect the normalization of the demand for its products, following two years where the company leveraged the extraordinary demand caused by the COVID pandemic, with home remodeling becoming one of people’s main spending areas.
The widespread slowdown, not only in Mexico, but also in the other countries where the company operates, led to comparatively lower results year-over-year. However, throughout the 2023, the company focused its efforts on adapting to the new reality and opening up growth opportunities.
Federico Toussaint Elosúa
Chairman of the Board of Directors and Chief Executive Officer
Grupo Lamosa’s total 2023 sales were $31,572 million pesos, with 38% of revenues coming from abroad. The company’s 2023 operating income was $4,932 million pesos, 16% of sales, and its annual EBITDA $6,206 million pesos, 20% of sales.
One of the most significant events of the year for Grupo Lamosa was the acquisition of Baldocer, a Spanish ceramic-tile manufacturing company with an international presence and a 30-year track record in the industry.
The incorporation of Baldocer, specializing in high-end ceramic products with large and extra-large formats, positions Grupo Lamosa to grow its market share in Europe and enhances the Tile Business’s commercial offering with high-value-added products.
During the year, Grupo Lamosa’s capacity to incorporate new businesses, capitalize on synergies, and generate value were once again demonstrated by Fanosa, which posted better-than-expected results for its second year of operations as part of the Adhesives Business.
Throughout 2023, Grupo Lamosa continued to drive its growth and diversification strategy, maintaining a healthy financial structure and adequate leverage levels. This strategy has enabled the company to double in size over the past four years and maintain its position as one of the world’s leading ceramic manufacturers.
The expansion achieved in recent years has increased Grupo Lamosa’s visibility and relevance within the industry and with its diverse stakeholders, paving the way for the design of a new corporate identity, more aligned with the company’s current reality.
Going forward, the new Grupo Lamosa identity will increase the company’s value as an institutional, global, diversified and sustainable brand, reflecting its essence as a dynamic and innovative company in constant evolution.
Grupo Lamosa once again reaffirms its commitment to the principles of the United Nations Global Compact. It will continue to take decisive action to promote social responsibility and human and labor rights, combat corruption, and implement sustainable practices for the benefit of the environment and its local communities.
Grupo Lamosa would like once again to thank its stockholders for their trust, its employees for their commitment, and its suppliers, distributors, customers and friends for their support.
Federico Toussaint Elosúa
Chairman of the Board of Directors
and Chief Executive Officer
