Financial report


Mapei Group around the world

The dialogue between Mapei set-ups worldwide and building professionals strengthens the Group and helps everyone have the share of the developments. Mapei continues to grow by building on the knowledge and relationships from both within and outside the company.

A 2017 of celebrations and constant growth


In 2017 Mapei Group celebrated 80 years of history and took another step forward in its process of growth and internationalisation. We reached a target which we are quite rightly proud of, but it also encourages us to keep looking forward. The year closed on a positive note. The Group registered an annual turnover of 2,406 million Euros, an increase of 5.4% on the previous year, which was already an increase of 4.7% on 2015. The profit margin for 2017 was 67.3 million Euros. We carried on growing in 2017, in spite of the unfavourable trend in exchange rates: in fact, the real growth against stable exchange rates would have been more than 7.5%. This trend influenced the overall results of the Group, which was also hit by the effect of the increased cost of raw materials and their limited availability. We are an increasingly global Group.
Our push towards internationalisation was consolidated in 2017 with new acquisitions in strategic areas where there is a lot of potential to expand our business. We have strengthened our presence in Latin America through the acquisition of a company in Colombia and invested heavily in Egypt, a particularly interesting area with plans to develop its infrastructures.
Internationalisation and research are the driving forces behind our growth. In 2017 we set a new record by exceeding the 100 million Euros mark for annual investments, which enabled us to increase the production capacity of our manufacturing facilities and commission new production lines so that the Company can provide a quicker response to market demands. Operations that involved Mapei’s presence all around the world, and in North America in particular. The significant increase in investments in 2017 was not only a response to the increase in demand at an international level; it also included R&D to enable our research centres to remain at the cutting-edge. Our Group focused its forces on particularly innovative projects such as analysis activities, the design and development of new products, the improvement of existing products and the development of highly innovative technology.



Dr. Giorgio Squinzi CEO

Investment in new production plants and research. But that’s not all. For Mapei Group, 2017 was another year characterised by the considerable resources we invested into our personnel, the Company’s most valuable resource. Compared with the previous year the total workforce increased by 10.2%, which equates to 880 new employees. An increase concentrated mainly in North America, Latin America and Western and Eastern Europe to support the Group’s constant growth. And now a few thoughts for 2018, which also started on a positive note. In the wake of a tradition dating back a long way and which looks to the future, our objective will be to consolidate our process of growth. We will focus on new acquisitions to strengthen Mapei’s position on international markets and it could be another year that we have to deal with the effect of exchange rates, as already happened in 2017. But we are used to dealing with the uncertainties of economic cycles and the markets: we are always ready to react. Eighty years of growth is a very important patrimony which three generations have contributed to.


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