Beaulieu International Group (BIG) reported revenue of 2.5 billion euro [US $2.64 billion] in 2021, an increase of 45% compared to 2020. The group EBITDA amounted to 451 million euro [US $476 million] , an increase of 120% compared to 2020, and net earnings of 274 million euro [US $289 million], a growth of 215% compared to 2020.
Adding to the gradual top-line growth of recent years, the group said it benefitted from favorable market conditions, a revitalized growth strategy, and its team of nearly 5.000 first-class employees. BIG was able to mitigate major supply chain risks thanks to its strong vertical integration and balanced out local market dynamics with a diverse global business.
Pieter-Jan Sonck, CFO of B.I.G., said the company plans to invest over 100 million euro into sustainability, innovation, and Industry 4.0, including a new platform for customer relationship management, digital solutions for operations, and the launch of the B.I.G. University offering learning trajectories for employees.
The company said its Polymers business unit benefited from strong demand in Europe and North America. This, combined with raw material shortages and unplanned shutdowns of competitors, pushed prices and margins up to historical highs. The Polymers facilities ran at full capacity to meet the customers’ needs and hit all-time profit records during several months.
Flooring Solutions also fared well. Most divisions and regions outperformed amid surging energy prices, disrupted supply chains, cost volatility in transport and raw materials, and other challenges. The company said its sustained focus on innovation, design and product differentiation led to an improved operating result at the end of 2021 and they will continue this strategy.
In addition, BIG published its first sustainability report that showcases the company's ambition for a sustainable future.
The sustainability report is built around a self-designed sustainability model, named Route 2030, which is based on achievable commitments, covers the company's priorities and reflects B.I.G.'s vision in a sincere way.
“We fully realize 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," said CEO Pol Deturck. "Today, we feel ready and equipped to take on our responsibility. 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 and 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.”
Download the annual report and sustainability report at this link.
