— Business review — Consumer & Industrial review
Consumer & Industrial review
Strong revenue growth as we exit COVID-19 low of 2020
In our Consumer & Industrial business area, we provide our customers with high-quality products and outstanding services, adapted to our customers’ needs. The Industry market segment produces and markets a broad range of products such as dispensers, cartridges and mixers for two-component adhesives and sealants for use in the construction, transportation, electronics, infrastructure and general industrial sectors, as well as and the DIY market. Microbrushes and applicators for eyes, eyelashes, lips and facial make-up are the most important products of our Beauty market segment, which are sold to a broad customer base, which ranges from the most iconic names in the beauty industry to independent (“Indie”) labels and regional brands.
Key figures
|
millions of CHF |
|
2021 |
|
2020 |
|
Change in +/–% |
|
+/–% adjusted 2) |
|
+/–% organic 3) |
|
Revenue Industry |
|
160.5 |
|
125.3 |
|
28.2 |
|
27.6 |
|
27.6 |
|
Revenue Beauty |
|
126.9 |
|
121.7 |
|
4.3 |
|
4.2 |
|
4.2 |
|
Total revenue Consumer & Industrial 1) |
|
287.5 |
|
247.0 |
|
16.4 |
|
16.1 |
|
16.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business area cost of goods sold |
|
–170.3 |
|
–151.1 |
|
–12.8 |
|
|
|
|
|
Business area gross profit |
|
117.1 |
|
95.9 |
|
22.1 |
|
|
|
|
|
Business area gross profit margin |
|
40.7% |
|
38.8% |
|
|
|
|
|
|
1) Revenue from external customers.
2) Adjusted for currency effects.
3) Adjusted for acquisition and currency effects.
Revenue by market segment
2021
Continuing strong recovery and growth in all geographies and markets in Industry
We achieved a record high of CHF 160.5 million revenue (27.6% above 2020). The segment recovered strongly from the pandemic, especially the construction and electronics markets. We saw the impact of the increasing trend towards electric vehicles, with its high reliance on adhesives in production. We benefited also from higher demand for housing and refurbishments and a rebound in the aerospace industry.
In 2021, we achieved our first commercial revenues with our award-winning sustainable foil-based cartridge system, ecopaCC™. Other new product developments included the launch of Mixpeel and Blueline.
The Industry market segment specializes in the design and production of hand-held mixing and dispensing equipment as well as primary packaging. Our product offering includes cartridges, mixing tips and hand-held dispensers used in various applications, especially for adhesives delivery, in the construction, transportation, electronics and infrastructure sectors. Brand names include MixpacTM as well as MKTM and CoxTM for dispensers.
2021 was a challenging year in end-consumer markets, with high volatility and varying speeds of recovery. We successfully navigated raw material, supply chain and transportation disruptions while adapting our capacity to ensure service continuity for our customers as demand returned.
Strong signs of recovery in Beauty
Our Beauty market segment delivered revenue of CHF 126.9 million, outpacing the market and growing 4.2% compared to 2020, despite facing a longer impact from the pandemic than other market segments due to continuing restrictions.
In parallel, our project to expand the factory in Germany and increase our decoration capabilities and level of automation was completed in mid-2021. We were awarded new projects in both our core lip and eyes business and in new markets such as skin care, demonstrating the confidence our customers have in our new facility. Our award-winning microbristle applicator (MBA) performed successfully, with new projects outside our traditional mascara portfolio. The Beauty segment plays a leading role in the company regarding sustainable production. Products can contain between 20% and 92% of PCR and bio-based material.
Our Beauty market segment is specialized in the design and production of high-precision make-up applicators, in particular for mascara. Our products include microbrushes, applicators, bottles and caps and full-service offers for the liquid color cosmetics market, sold as part of either customized or ready-to-go solutions. The Beauty market segment sells its products under the GEKA brand.
Definition of alternative performance measures (APMs):
For the definition of the alternative performance measures, please refer to chapter alternative performance measures.