GRI 2-22
2024 was a challenging year for Grupo Lamosa, marked by a complex environment of economic slowdown and low growth, which impacted the construction industry in most of the countries where the company operates.
This unfavorable landscape, combined with a shift in consumer spending patterns—where home remodeling took a backseat due to the normalization of post-pandemic consumption—resulted in lower demand levels, affecting the company's performance.
In 2024, Grupo Lamosa posted consolidated net sales of $33,945 million pesos. Operating income and EBITDA were $4,522 million pesos and $6,208 million pesos, respectively, representing margins of 13% and 18% of sales.
One of the most significant achievements of the year was the successful integration of Baldocer’s operations in Spain. With a business model focused on high-end ceramic products and a strong export orientation to other regions such as Europe, Asia, and North America, this acquisition enabled the company to leverage synergies and optimize operations in Spain, following the 2021 acquisition of Roca.
Throughout the year, Grupo Lamosa continued executing its capital expenditure plan across the various regions where it operates, investing in cutting-edge technology in order to remain at the forefront of more sustainable manufacturing processes. The company also developed innovative, high-value-added products, such as large-format ceramic tiles with thinner profiles, which reduce weight, save energy, and lower transportation costs.
One of Grupo Lamosa’s most significant achievements of the year was the successful integration of Baldocer’s operations in Spain. .
Federico Toussaint Elosúa
Chairman of the Board and Chief Executive Officer
Grupo Lamosa reaffirms its commitment to the principles of the United Nations Global Compact.
Another major achievement in 2024 was the full implementation of a digital platform designed for internal talent management. This system, focused on talent identification, training and development processes within the organization, will ensure the company has the right human resources to support its growth strategy.
Despite increasing competition and the various challenges faced throughout the year, Grupo Lamosa successfully navigated the adverse environment thanks to its diversification and effective synergy utilization. Once again, the company demonstrated that its experience, strengths and strategic rescaling have positioned it advantageously to continue capitalizing on opportunities for the benefit of its stockholders.
Grupo Lamosa reaffirms its commitment to the principles of the United Nations Global Compact. The company will continue implementing initiatives to strengthen social responsibility, combat corruption, and uphold human and labor rights. Additionally, it will promote sustainable practices that contribute to environmental protection and the well-being of the communities where it operates.
Grupo Lamosa expresses its gratitude for the trust of its stockholders, the dedication of its employees, and the ongoing support of its distributors, suppliers, customers, and friends.
Federico Toussaint Elosúa
Chairman of the Board and Chief Executive Officer