For CL Industrial Group the past already promised to be a historic year. It celebrated the 40th anniversary of its foundation with the launch in 1981 of Cristian Lay, the first direct sales company by catalog in the Spanish market. And he also had the enormous challenge ahead of digesting the acquisition of Gallardo Group, with which the company landed in the steel sector. The challenge of that historic year has ended with the best financial results in its history.
The corporation controlled by loyal familywhich brings together 25 companies, obtained a net profit of 120 million euros in 2021, almost tripling the record of the previous year, and managed to double its income, reaching 1,517 million. The strong growth is driven precisely by the company’s steel division which, after the acquisition of Grupo Gallardo in the summer of 2020, has contributed more than 1,000 million euros to the group’s consolidated income statement.
CL Industrial Group is now finalizing a new strategic plan stop accelerating its growth and contemplating investments of just over 1,000 million euros in the next three years, as revealed to THE NEWSPAPER OF SPAINa newspaper that belongs to the same group as this newspaper, the CEO of the corporation’s industrial division, Miguel Angel Lealwhich anticipates that the roadmap involves growth in all the company’s businesses and boosting all its divisions (industry, renewable energy, chemicals and consumption).
The objectives of the company from Extremadura go through double your income again in the next three yearsreaching a turnover of 3,000 million in 2024, and boost its profitability to place the gross operating result (ebitda) at 300 million, almost 60% more than the 190 million recorded last year. The company believes that it can achieve these results organically, but does not rule out continuing to grow through purchases of other companies. “We always analyze acquisition opportunities, and we will continue to do so,” says Leal, who anticipates that the group is already finalizing the signing of the purchase of a paper company in Spain.
Green energy boom
The investment plan until 2024 contemplates projects for 720 million euros to grow the green energy business. CL Industrial Group prepares investments for 420 million in plants photovoltaic and wind farmsand has identified projects worth 300 million euros to enter the green hydrogen revolution, particularly through the Tarragona Hydrogen Valley project.
The corporation is also preparing an investment of 50 million to build a manufacturing plant in Tarragona for ethylene carbonatea fundamental element in electric car batteries, and which will be operational in 2024. And it will also deploy investments of 100 million each year to improve and modernize all its already operational facilities.
With several of the large projects that it will develop in the coming years, the company plans to opt for European funds from the Recovery Plan and even participate in some of the big PERTE designed by the Government, such as the green hydrogen or the electric vehicle. But injections via aids are not a priority. “The projects must have a consistent business model with or without aid. We have to secure the supply chain and find customers. Mounting a project just because there will be subsidies does not make much sense”, emphasizes the CEO.
CL Industrial Group already has a wide international presence, with more than 50% of its income coming from exports to 24 countries. That presence abroad so far is only commercial. The company considers the jump to the internationalization of production, but it will not give it at least until the next strategic plan, which will already cover the 2025-2027 period.