marble grinder Levantine The company, one of the largest companies in Spain’s natural stone industry, increased its sales figure for the second year in a row, but I can’t leave the red numbers behind This has been going on for a decade, but manages to reduce them somewhat. This is clearly seen from the latest consolidated annual accounts deposited by the Novelda company in the Commercial Register, corresponding to the 2022 financial year.
Specifically, the firm achieves this figure: Ordinary income of 141.5 million representing euro 5% increase About the previous exercise. It was also the first time the figure exceeded the figure it recorded before the pandemic, when the slowdown in activity significantly reduced sales.
However, this good development in the commercial field was not enough for the company to get out of the bad situation, but yes, at least it reduced its volume somewhat. Thus, the operating result closed with a deficit of 8.1 million euros and the net result was approx. 15.9 million lost, one million less than the previous year.
Of course, despite these figures, Bybrook demonstrated his confidence in the company’s potential and Capital increase worth 123 million euros during the year to reestablish their financial situation. A transaction carried out through a credit swap.
Similarly, the management report states that the company signed an agreement. restructuring agreement We will pay off the debt in 2023 in order to ensure the continuity of the company’s operations and to invest. techlamA subsidiary of the group sintered stone productionLast year it bought the facilities of the Keros tile manufacturer in Castellón to open its second factory using this porcelain material.
The contract covers the total debt 148 million euros According to the document, It corresponds to 47.5 million new money. Of course, previously the holding had to split its debt into two independent circles, one for Techlam and the other for the rest.
Restart the business
In recent years, those responsible for Levantina have made various attempts to restart the company’s affairs and correct its accounts. Thus, in 2020, the holding chose to split its operations into three different companies, one for granite, another for marble and the last one for Techlam; This is one of the biggest bets on the future.
The company also preferred: innovationfor example, by applying treatments that allow stone fight against pollution by removing gases such as sulfur oxide or carbon monoxide. Likewise, it has launched a new premium natural stone range called Mediterranean Stone, which has led to the creation of an exclusive catalog of sustainable marbles and limestones. A collection that stands out with its presence 100% recyclable and use renewable energy and reused water for its production.
The firm also continues to focus on internationalization, which actually represents the bulk of its business. Thus, last year up to 66% of its sales occurred outside Spain.