The Valencian business group Royo Group International Bathrooms (RGIB), one of Invext’s portfolio companies, has published its 2019 financial results. The company ended last year with a turnover of 118,105,000 euros and a 4.8% increase in sales, thereby consolidating its leading position amongst pan-European groups in the bathroom and shower sector.
RGIB is an internationally established company with commercial operations in 75 countries across 4 continents and has 5 factories in Europe and 1,100 employees, in addition to its commercial offices in the USA and India.
As regards the breakdown of the company’s sales, as stated in its press release, “international markets accounted for 79% of these – amounting to 93.2 million euros – whilst the Spanish market recorded sales of 24.8 million euros. As for market performance, the most significant growth occurred in the areas considered key for RGIB: Southern Europe grew by 4% and Northern and Central Europe grew by 7.6%”.
For their part, RGIB CEO Raúl Royo states that “The results for 2019 globally are very satisfactory, but however, those for 2020 will not be the same. We are paying close attention to the global economic context and have taken advantage of this scenario to accelerate our strategic future plans, to bring forward some changes, and to begin adapting to the shifts in consumer habits that the pandemic has caused in our society and which will soon be detected.
In this respect, the company highlights that it “thus maintains its growth path with a consolidated model”. Furthermore, RGIB establishes itself as a group that “offers innovative and functional solutions for enjoying a unique and well-being experience in the bathroom, a complete product offering for any type of family and lifestyle, and with a multi-brand (premium and basic), multi-product (furniture, basins and mirrors, and showers), and multi-channel format with over 14,000 points of sale in 75 countries worldwide”.
Invext’s subsidiary has also recorded growth across all its channels: “The professional and specialist market, where it has more than 10,500 customers in Europe, grew by 5% through its network of agents and distributors selling its own brands (Royo, Fiora and Elita). The DIY channel grew by 3.5%. RGIB works with 8 of Europe’s top 10 retail chains through more than 3,500 points of sale”.
Leaders in Europe and new strategic plan
RGIB currently “ranks second among European bathroom furniture manufacturers in terms of value and first in terms of units produced, with over 1 million units per year. With a market share of 8% in Europe within its category, it maintains a clear lead in some of its markets and channels, such as Spain (20%), Poland (30%), France (20%) and Italy (40%)”.
Furthermore, in 2020, RGIB will conclude the “Strategic Plan that began in 2017, following HIG's entry into its shareholding, and which precisely aimed to achieve the objective of European leadership. During this period, sales have multiplied by 2, EBITDA by 3, and staff by 2. Over these 3 years, 5 innovation projects have been managed at local, national, and European levels, making it the only Spanish SME member of the European EUREKA platform”.
On the other hand, Invext's investee company will publish its “first sustainability report this year, thus fulfilling its commitment to be a transparent company, concerned and respectful of its surroundings and the planet, and improving its corporate governance.” RGIB also belongs to leading Spanish organisations such as FMRE and CRE100DO.
Current RGIB configuration:
Bathroom furniture: factories and commercial subsidiaries.
ROYO SPAIN - Quart de Poblet - Valencia - Spain
ELITA - Sztum - Poland
MAXIMUS- Koniecwald- Poland
ROYOMEX - Iztapalapa - Mexico City
ROYO USA - Miami Sales Branch
ROYO INDIA - Commercial branch in Bombay
Shower and furniture: factories and commercial subsidiaries.
FIORA - La Rioja - Spain
