Since March 2022, major overseas listed companies engaged in ceramic production have successively announced their 2021 annual reports or key financial data. Summary analysis of relevant data will help us comprehensively Understand the development status of the ceramic tile industry in 2021.
This article refers to Ceramic World Review’s list of the 25 largest ceramic tile manufacturers (excluding China) based on ceramic tile production statistics in 2020. After excluding the unlisted companies, a total of 13 companies were obtained The main financial data of major ceramic tile manufacturers and overseas listed companies in 2021 generally show the following characteristics.
1. Among the 13 listed companies, 1 is from North America, 8 are from Asia, 4 are from Central and South America (including Mexico), and 1 is from Europe. Although there are many non-listed companies among the top companies in terms of output, such as PAMESA and STN in Spain, and KALE in Turkey, it can still be seen from the list of major listed companies that Asia and Central and South America are the main producing areas of ceramic tiles in the world.
2. In 2021, except for the slight decline in sales of KAJARIA CERAMICS in India and DYNASTY CERAMIC in Thailand, the total sales of major listed companies increased to varying degrees compared with 2020, with Mexico's Lamosa Group having the largest increase of 40%. On the one hand, the growth in sales is due to the epidemic situation declining compared with 2020, and on the other hand, it is also due to the low base in 2020.
3. Compared with sales, the overall growth rate of net profits of listed companies is greater. A total of 4 companies’ net profits have increased by close to or even more than 100% year-on-year. If you consider the natural annual data and financial results of SOMANY CERAMICS and Orient Bell in India and INTERCERAMIC in Mexico. A comparison of annual data shows that 7 companies have doubled their net profits.
The specific situation of each company is analyzed as follows:
Mohawk Industries, Inc.
Mohawk Industries of America manufactures a variety of flooring products, including carpet, rugs, tile, laminate, wood, luxury vinyl tile and vinyl flooring. It mainly operates three business segments: global ceramics, North American flooring and flooring in other parts of the world. About 60% of the company's sales come from the United States.
Mohawk Industrial's total sales in 2021 were US$11.201 billion, a year-on-year increase of 17.26%, and net profit was US$1.033 billion, doubling from 516 million in 2020. Earnings per share were $14.94, and ROE (return on equity) was 12.10%. Among them, the global ceramic tile business turnover was US$3.917 billion, accounting for 34.91% of the company's total turnover, a decrease of 1 percentage point from 2020; operating income was US$403 million.
Lamosa
The main business of Mexico's Grupo Lamosa SAB de CV is the manufacture and sale of ceramic tiles, sanitary ware and ceramic adhesives. The real estate sector is also engaged in commercial and residential development, but its main revenue comes from ceramic products. The company's products are mainly sold in the domestic market, with approximately 38% of its products sold in 2020 to the United States, Canada and other Central and South American countries.
Total sales in 2021 will be US$1.23 billion, a year-on-year increase of 40%, and net profit will be US$190 million, a year-on-year increase of nearly 150%. Among them, overseas sales were US$496 million, a year-on-year increase of 81%, accounting for 38% of the group's total revenue, which was the same as the previous year. Total sales of the wall and floor tile business in 2021 were US$1.034 billion, an increase of 47% from the previous year, contributing 80% of the group's total sales. This data includes the operating income of Roca Tile, which was just acquired in 2021. Roca's main markets are in Spain, Brazil and the United States.
SCG
SCG (Siam Cement Group) is a holding company that produces and sells various building materials, chemicals and packaging products through its subsidiaries. Its business is divided into four segments according to product types: chemicals, cement building materials, packaging products and others. Most of the revenue comes from Thailand. SCG's total sales in 2021 were US$15.9 billion, a year-on-year increase of 42.5%, and its net profit was US$1.42 billion, a year-on-year increase of 38.04%. According to the annual report, SCG Wall. The annual production capacity of floor tiles is 181 million square meters.
RAK Ceramics
Ras Al-Khaimah Ceramics PSC in the United Arab Emirates is mainly engaged in the manufacturing and sales of various ceramic products, including ceramic tiles, bathroom sets and sanitary ware, and also conducts business in construction engineering and other industrial fields.
RAK Ceramics’ total sales in 2021 will be US$779 million, a year-on-year increase of 21.8%. Net profit was US$81.17 million, a year-on-year increase of 102.5%. The core markets of RAK Ceramics are the United Arab Emirates, Saudi Arabia, Europe and other places. As of the end of the first quarter of 2021, the export share accounted for 60% of the total. In the UAE, revenue fell 3.1% year-on-year due to a slowdown in project business. In Saudi Arabia, revenue grew 26.7%. In Europe, revenue rose 17% year-over-year, but fell 16.4% sequentially in the fourth quarter, hurt by higher global shipping prices caused by a shortage of shipping containers. In the Rest of the Middle East region outside of the United Arab Emirates and Saudi Arabia, revenue grew 48.1%. In India, revenue increased by 60.9%, and in Bangladesh, revenue maintained a growth of 30.1% despite the impact of temporary production shutdowns caused by the epidemic.
Kajaria CERAMICS
Kajaria is India's largest ceramic tile manufacturer, mainly producing ceramic wall and floor tiles (annual production capacity 28.10 million square meters), polished vitrified tiles (annual production capacity 19.80 million square meters), glazed vitrified tiles (annual production capacity 22.50 million square meters) million square meters), bathroom products (annual production capacity of 1 million faucets and 750,000 toilets), and is engaged in the OEM business of plywood and laminates. The products it produces are mainly sold in the Indian domestic market.
Affected by the quarantine policy and sluggish market sentiment in the first half of 2021, Kajaria Ceramics' sales in fiscal year 2021 were US$36.4 million, a decrease of 0.97% from 2020. EBITDA increased 22% from US$5.44 million in 2020 to US$6.66 million. Net profit was US$4.03 million, a year-on-year increase of 20.78%.
RWANA CITRAMULIA
Indonesian ARWANA CITRAMULIA company is mainly engaged in the production and local sales of ceramic tiles. It owns the brands ARWANA and UNO. Sales in 2021 will be US$178 million, a year-on-year increase of 15.5%, and net profit will be approximately US$32.7 million, a year-on-year increase of 45.78%.
DYNASTY CERAMIC
Thailand DYNASTY CERAMIC is mainly engaged in the production and sales of wall and floor tiles. It also acts as an agent for the sales of wall and floor tiles and decorative tiles produced by its subsidiary Tile Top Industry Public Company Limited. DYNASTY CERAMIC's ceramic tile brands include Dynasty, Tomahawk, Jaguar and Nava. In addition, DYNASTY CERAMIC is also engaged in the distribution of bathroom products.
In 2021, total sales will be US$250 million, a year-on-year decrease of 1.24%, and net profit will be US$50.7 million, a year-on-year increase of 7.26%. In the first three quarters of 2021, a total of 44.6 million square meters of ceramic tiles were sold, a year-on-year decrease of 6%. Among them, 4% is used for export, and the proportion of exports has been stable at around 4% in the past two years.
SAUDI CERAMICS
SAUDI CERAMICS is the largest manufacturer and seller of ceramic products, water heaters and related components in Saudi Arabia. The company's business areas include ceramic tiles and sanitary ware, water heaters and ceramic pipes. The sale of ceramic tiles and sanitary ware is the company's main source of revenue. The company's products are primarily sold within Saudi Arabia, but also have operations in other GCC countries and other countries. In 2021, SAUDI CERAMICS's operating income was US$409 million, a year-on-year increase of 1.24%, and its profit was US$62.55 billion, a year-on-year increase of 200%.
Somany Ceramics
Somany Ceramics is an India-based manufacturer and seller of ceramic tiles, sanitary ware and bathroom accessories. It provides floor tiles, wall tiles and sanitary ceramic products such as toilets, basins and urinals, as well as sanitary ware products such as faucets and showers. The main revenue comes from tile sales. In 2021, Somany Ceramics' annual sales were US$276 million and its net profit was approximately US$14 million. Somany Ceramics' fiscal year ended at the end of the first quarter of each year. Total sales revenue in the 2020/2021 fiscal year was US$221 million, a year-on-year decrease of 2.07% in the 2019/2020 fiscal year; net profit was US$7.76 million, a year-on-year surge of 267%, compared with The data for the 2018/2019 fiscal year in the pre-epidemic era also had an increase of 17.21%. In 2020, Somany Ceramics produced 48 million square meters of ceramic tiles.
VICTORIA PLC
UK VICTORIA PLC is engaged in the manufacture, distribution and sale of floor covering products. The company is organized into three operating segments: UK and European Soft Flooring, UK and European Tiles, and Sales of Soft Flooring Products in Australia. British and European tiles contribute the majority of the company's revenue. This segment mainly operates in Spain and Italy. Its business involves the manufacturing and distribution of wall and floor tiles. Its products are mainly sold in the United Kingdom and other European countries. By September 2021Sales in the 12 months on the 30th were US$1.156 billion, EBITDA was US$145 million, and net profit was US$49.23 million. In the 2020/2021 fiscal year (ending on March 31 of each year), operating income was US$864 million, a year-on-year increase of 9.47%, and net profit was US$36.54 million. From April 2021 to the end of 2021, VICTORIA PLC acquired a total of 5 companies engaged in the sales of home furnishings, household and related products.
Portobello SA
Brazilian Portobello SA is primarily engaged in the manufacture and sale of ceramic products and also offers technical ceramics, enameled tiles, decorative and special parts, mosaic tiles, interior wall and exterior facade products. In 2021, Portobello SA's turnover was US$337 million, an increase of 30.21% compared with fiscal year 2020, net profit was US$36.64 million, a year-on-year increase of 47.25%, and EBITDA was US$64.63 million.
INTERCERAMIC
Mexico's Internacional de Ceramica SAB de CV is mainly engaged in the production and sales of floors, ceramic tiles, installation materials, bathroom furniture, kitchens and supporting products. About 70% of its products are sold in the local market. In the 12 months ending September 30, 2021, sales were 595 million, a decrease of 7.42% compared with fiscal year 2020; net profit during the same period was US$30.18 million, quadrupling compared with fiscal year 2020, and compared with fiscal year 2019 before the epidemic. It also increased by nearly 55% year-on-year.
Orient Bell
Orient Bell is an Indian company engaged in the manufacturing, sales and trading of ceramics and floor tiles. Its products include floor tiles, wall tiles, paving tiles, etc. Most of its revenue comes from sales in the Indian market. In 2021, Orient Bell's total sales were US$83.55 million, and sales in the 2020/2021 fiscal year were US$67.27 million; net profit during the same period was US$3.24 million, while net profit in the 2020/2021 fiscal year was only US$1.03 million. The latter is not much different from the data for the 2018/2019 and 2019/2020 fiscal years, reflecting the explosion of the company's profitability in 2021.
