Colombini Group: strong profit growth in 2021

  • Turnover increased to 220 million Euro (+30%) on a consolidated like-for-like basis
  • Pro forma aggregate turnover with the acquisition of Bontempi Casa at 270 million Euro (+59%)
  • 20 million Euro worth of investment for new AI systems, new production technologies and in support of the sales network

Colombini Group, the Italian leader in the furniture industry, with its own brands Rossana, Febal Casa, Colombini Casa, Colombini Group Contract, Offic’è, Bontempi Casa and Ingenia, ended the year 2021 with all financial indicators growing rapidly.

Group turnover, on a consolidated like-for-like basis, exceeded 220 million Euro, up by 30% compared to 2020’s 170 million Euro. Revenue rose to 270 million Euro, up by 59% compared to the previous year, if you consider the pro forma aggregate numbers which include the acquisition of Bontempi Casa completed in 2021. This acquisition made a positive contribution to the group’s financial results, while also enhancing the Group with a highly prestigious name in the “living room” segment (tables, chairs, sideboards, sofas and lighting) and thus further expanding the product range.

Results for 2021, which are significantly ahead of budget, confirm the success of the strategic plan implemented and will allow the Group to continue along its ambitious path towards the objectives set by the Board of Directors.

“The continued growth and the outstanding results obtained in 2021 testify to the solidity of the Colombini Group from both an industrial and a financial perspective – comments Emanuel Colombini, President of Colombini Group This year, we have outperformed expectations by growing by 30%, compared to a market average estimated by Federlegno Arredo of 20%. We have ambitious goals for 2022 and are lucky to have the resources required to make the most of the opportunities that arise in the market. Our strategy involves both organic growth and growth via the acquisition of furniture and design companies with whom we aim to set up major synergies. The recent acquisition of Bontempi Casa, which shares a long-standing tradition in family-run design business with our Group, marks a first step in the growth by acquisition which will enable us to become a veritable hub in the Italian furniture industry, both in terms of the size and breadth of our product range, creating a true beacon of excellence in our territory. We are currently working on more than one dossier, and we aim to complete another deal before the year is out”.

In 2021, the Colombini Group invested more than 10 million Euro to develop new production technologies and to introduce an Artificial Intelligence System in order to optimise the order management of the Group’s brands, in the interest of improving the efficiency of the production cycle, particularly the organization of the production capacity of manufacturing plants and the timing of product manufacturing, and to continue the growth and innovation process with an increasingly sustainability-focused approach. The results are promising, both in terms of effectiveness and efficiency: the punctuality of expected order delivery dates has gone up by 14% and losses have been reduced by 20% (over- or under-utilisation compared to production capacity): on an annual basis these percentages translate into substantial savings.

What is more, over 10 million Euro have been invested to support the distribution network, increasing advertising coverage on national press, TV and digital channels, supporting local dealers with dedicated investments and initiatives, using Salesforce, the world leader in CRM solutions, designed for optimised sales and marketing management of dealers and end-consumers.

During the course of the year, the Group network training scheme also continued full steam ahead thanks to the Colombini Academy, the in-house school dedicated to the fulfilment of excellent courses of training and professional development for staff and business partners, which in 2021 completed 5,000 hours of training on-line and in-person.

“We ended 2021 on an extremely positive note, achieving most of the targets scheduled for 2024 as part of our 2020-2025 strategic plan ahead of time – comments Giovanni Battista Vacchi, CEO of Colombini GroupWe have plenty of room to grow for all our brands and these results encourage us to do better still, to continue developing our business model, in keeping with the way the market evolves and with consumer purchasing trends. We will continue to invest in developing new products, in technological innovation and in all the tools that can help support the growth of our business and of our sales network, with an increasingly sustainability-focused approach, with the aim of becoming a benchmark in the furniture and design industry both domestically and abroad”.

Specifically, with reference to the individual brands in the Group, in 2021 Febal Casa opened 30 new stores across Italy, where the brand currently boasts a network of over 130 mono-brand stores. Around ten stores were opened abroad, including Paris and Dubai; Rossana inaugurated flagship stores in Rome and London; Colombini Group Contract, an enterprise which specialises in the design and construction of turnkey solutions in residential, hotel and commercial sectors, continued to grow exponentially, developing major projects and making furniture for more than 6,000 property units in residential, senior living and student housing contracts all over the world, with a stable presence in Italy, Korea, China, South-East Asia, the Middle East, South America, the United Kingdom, Switzerland and France; Colombini Casa implemented its development strategy in the private label market, and in the galleries of multibrand customers, just like Bontempi Casa which opened 186 new stores and completed 96 gallery projects.