Belgian flooring giant Beaulieu International Group has reported a surge in both sales and profit.
According to its annual results for 2021, total sales rose 45% to €2.5bn from €1.7bn, driven by is polymer division, while group EBITDA increased 120% to €451m with a net profit of €274m, up 215% year-on-year.
Polymer sales reached over €1.2bn in year, while its flooring solutions recorded revenues of €968m.
“Our stand-alone brand for upholstery fabrics stole the show at the Yearly International Furniture Fair in Brussels, Belgium: Tessutica won two out of four Balthazar awards for new trends and developments. A fantastic performance,” the group said.
Pol Deturck, BIG CEO, commented: “It was a fruitful year for all three business units, but our business unit Polymers stood out. Exceptionally strong demand in Europe and North America, combined with raw material shortages and unplanned shutdowns of competitors, pushed prices and margins up to historical highs. Well aware that this combination of market conditions puts our overall figures into perspective, BIG has proven to be capable of going the extra mile. The Polymers facilities ran at full capacity to meet the customers’ needs and hit all-time profit records during several months.
“Our business unit Flooring Solutions fared well. Most divisions and regions outperformed amid surging energy prices, disrupted supply chains, cost volatility in transport and raw materials, and other challenges. Our sustained focus on innovation, design and product differentiation led to an improved operating result at the end of 2021, and we continue on the same track,’ says
“The achievements by Engineered Solutions echo those of the other two business units, from volume increases to budget increases. B.I.G. took big leaps forward in all its key markets, including the automotive sector, geotextiles and filtration.”
“The ambition for 2021 was to invest over €100m. But we were held back by external, unforeseen factors: from delays on quotes and execution to the lack of availability and resources due to the pandemic. If all goes as planned, we’ll make up for it in 2022 with an investment budget well over €100m. The main areas of interest will be sustainability, innovation and Industry 4.0.
“By 2030, together with a broad group of suppliers, stakeholders and partners, we want to be the leader in sustainable flooring and material solutions. Specifically, our future value proposition is based on products and services that are environmentally & climate friendly, circular and offered by talented, innovative people with an emphasis on integrity and respect for values.
“This results more in a recurring value proposition for the future. We fully realise that the road ahead is still long and bumpy, but if there is one thing we have learned in recent years, it is this: the greatest threat to our planet is thinking that someone else will save it. Today, we feel ready and equipped to take on our responsibility.”