With a turnover of 93.6 million € (+13,5% compared to the 82.4 million in 2018) the Italian group managed to gather positive results in a difficult two-year period, during which it invested in brand positioning, a constant push forward on Research & Development and sales growing overseas. The distribution network grew, allowing a doubling of the performance of the export segment compared to 2018.
International events and projects
One of the international markets on which the Group particularly focused for the Architecture & Deco is Cuba. The company has been chosen by the local government to renovate the colours of Havana’s buildings during the 500th anniversary of its founding. The project started at the beginning of 2019 and saw the realization of over 3.5 million litres of “tropical” paint products, specifically designed to resist to the local weather conditions.
The plan includes the cooperation of Gruppo Boero with the state company which manufactures paints and varnishes and is carrying on in 2020 with further partnerships.
The business relationships with the Middle-East area are further solidifiedm and the Group also confirms its presence (even if the event will be postponed) to the most prestigious international event in the area: Expo 2020 Dubai.
In the vest of Official Partner of the Italian Pavilion, the company will colour a huge part of its structure: an extraordinary commitment in order to paint over 13.000 square metres of total surfaces (both indoor and outdoor). A venture which aims at strengthening the relationship with local strategic partners, for the architecture & deco market and, in the yachting segment, local shipyards and applicators, in a perspective of a wider growth of its business.
These important opportunities of commercial development are paired with partnerships which are already ongoing in countries such as China, Egypt, Iraq and Armenia, with various local distributors. Even for the Yachting division, 2019 marked a rise in turnover of 7% compared to the previous year, determined by a clear development of the superyacht segment, in which Italy confirms its role as global leader, and an expansion of the market outside of Italy.
In the yachting segment, Gruppo Boero is present with the brands Boero YachtCoatings and Veneziani Yachting, maintaining their strong positioning on the market and confirming their market share both in Italy and abroad. Relevant investments have been carried out in R&D, focusing on the development of products with lower environmental impact, such as biocide-free, which are safer for human health in both the phases of manufacturing and application/removal.
Several project in progress
On this topic, in 2019, the Group started a multi-year partnership with the university Politecnico di Milano for a joint research project.
A further “R&D and Technical” partnership has been launched with Salomè Yachts and Design Gmbh, which is based in Berlin. The R&D lab has started a project that will develop a unique range of colours, in order to satisfy the needs of the most demanding customers of Salomè Yachts and Design.
The founder & CEO Etienne Salomé, formerly a designer for the luxury automotive brand Bugatti, expressed satisfaction for the first phase of the project and is sure that a unique range of colours will mean a new wave of possibilities in the custom-design segment.