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.

2020. The strength of the Group


2020 was a year unlike any other. The Covid-19 pandemic catalysed everyone’s attention and heavily penalised the global economy, devastated all plans and changed, maybe for ever, the way we live and the way we work.
But in this unpredictable context Mapei managed to demonstrate, once again, that it is a solid and flexible company with the ability to adapt to changes efficiently, while always remaining faithful to its corporate strategy based on: Internationalisation, Specialisation, Research and Development, Sustainability.
For years we have been investing in our plants and facilities, digitalisation and training to maintain such a high level of efficiency, safety and quality. This has enabled us to never find ourselves unprepared when faced with an emergency.
Thanks to a winning combination of internationalisation and investments, we carried on operating and manufacturing in complete safety, to support our subsidiaries and make sure we could carry on supplying our clients all around the world, guaranteeing continuity for important construction sites and strategic infrastructure projects.
None of this would have been possible without the commitment of the wonderful Mapei “family”. Directors, management, every level and every corporate function put themselves on the line to carry on working together and to give their support to the company and to their colleagues, even when forced to work in entirely different conditions dictated by the pandemic. Exceptional teamwork of which we are all so proud.
For its part, Mapei gave proof of its enormous ability to react. We were quick to implement and share protocols aimed at keeping our people safe and we invested in equipment and technology to guarantee continuity to our work in complete safety, both in the workplace and remotely.

A joint commitment which has yielded a good harvest: in spite of the pandemic and the lockdowns, turnover in 2020 reached 2,771 million Euros, more or less in line with 2019, and real growth at constant currency rates was even positive: +2.3% with respect to the previous year with an increase in the main product lines, given that the trend was negatively influenced by the patterns of exchange rates.
The result for fiscal year 2020 was 179.7 million Euros, a more than 140% increase with respect to 2019; operating income for 2020 almost doubled, while return on investments was more than 17%, in constant growth with respect to previous years. Significant results to which the unusual and favourable dynamics of the market also undoubtedly contributed. Remaining faithful to its natural vocation for growth, over the course of 2020 Mapei Group continued to invest, albeit to a lesser extent because of the pandemic, acquiring tangible assets to the tune of 53.9 million Euros and consolidating their international presence.
This year too, thanks to investments in research and development, we renewed our commitment to a more environmentally-aware building industry with more respect for culture and the health of users, convinced that the road to sustainability is through innovation.
These results and the confidence we have in the strength of Mapei Group allow us to look to the future with optimism, even in this moment of great uncertainty. The passion, commitment, transparency, talent and competitiveness that have always made us stand out from the rest are, and always will be, our guiding values in order to continue to grow responsibly and to contribute to the development of the entire supply chain and the communities in which we operate.

The Board of Directors
Mapei Spa

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