- April 29, 2021
Koxka acquires its two manufacturing plants and consolidates its project
After a group of partners set up a new business project that continued with the company’s assets and brands, Koxka’s forecasts for this year are to grow by around 27% to 37 million euros.
Last March, Koxka acquired the two manufacturing plants where it concentrates its activity in Navarre. On the one hand, Koxka has acquired its main plant in the Landaben industrial estate (Pamplona) with a total surface area of 30,000 square metres, financing from ACOFI (a French debt fund specialising in the real estate sector).
On the other hand, Navarra Suelo y Vivienda, S.A. (NASUVINSA) has acquired the plant in Peralta (Navarra), with a total surface area of 15,000 square metres, formalising in turn with Koxka a long-term lease contract with purchase option, at the end of which Koxka will acquire it. NASUVINSA is the Navarre public company dedicated, among other activities, to the development and financing of industrial land.
At the Pamplona plant, the Remote and Plug-in refrigeration cases are manufactured, while the Peralta plant manufactures refrigeration equipment. Both plants represent Koxka’s two production units, with a total of 45,000 square metres of facilities for its activity.
These acquisitions are the culmination of a process that began five years ago, when a group of partners started a new business project with the company’s assets and brands, repositioning the company, demonstrating the strength of the brand, and reaffirming its hallmarks.
Strengthened financial stability
Prior to the acquisitions, Koxka has strengthened the company’s own funds by injecting capital contribution by the company’s historical partners, who have shown a clear commitment to the future of the company and its project. In addition, a capital increase was carried out in which the public body SEPIDES (SEPI, Desarrollo Empresarial, S.A.) has entered the company’s capital with a 26% stake, in addition to a participative loan.
With these contributions, the company’s own funds have been reinforced by six million euros, giving Koxka the financial stability it needs to undertake the ambitious growth project in which it is immersed.
In addition, Koxka’s employees have shown their commitment and support for the current project by extending the repayment period of the loan granted by the employees to the company, which has had its support in this long process.
Over the last 4 years, Koxka has invested approximately 6 million euros in R&D to adapt its products from the point of view of visibility, merchandising, use of natural refrigerants and improvements in energy efficiency.
Commitment to research and international awards
In parallel to the above, Koxka continues its commitment to quality, research, and development. Koxka has its own technology (the only one of its kind in Spain), and over the last four years Koxka has invested approximately 6 million euros in R&D to adapt its products from the point of view of merchandising, use of natural refrigerants and improvements in energy efficiency. In this last aspect, it should be noted that in several products, the reduction in energy consumption achieved is up to 40% compared to equivalent products in the previous range. This aspect positions Koxka as a leading manufacturer from a technological point of view and allows it to meet the requirements of the Ecodesign and Energy Labelling Regulations, which have been compulsory in the sector since March 1st, 2021.
As a result of the work carried out over the last few years, Koxka has obtained several national and international recognitions, among which the following stand out:
At national level:
|Prize for the best SME company of the year in Navarre 2019 awarded by Diario de Navarra and Santander.|
|Award for one of the 500 leading Spanish companies in terms of growth during the year 2020 awarded by the Spanish Confederation of Small and Medium Enterprises (CEPYME).|
|Four German Design Awards granted by the German Ministry of Economics and Technology, to the best German and international designs in 2018.|
|Four EPDA (European Product Design Award) Design Awards in 2017, rewarding strategic thinking and imagination for innovative products that improve everyday life in a practical way.|
Growth and commitment to the French market
For the current financial year, Koxka’s sales forecast are for growth of around 27% to reach 37 million euros, achieving a positive Ebitda of 8%. The expected growth is mainly in the main markets in which Koxka is present, which are the domestic one, Latin American, English and French markets.
The company has made a strong commitment to the French market, opening a branch office at the end of the 2020 financial year and in which market it expects to grow 178% in 2020 and reach a turnover of 30 million in 5 years.
For the current financial year, Koxka’s sales forecast are expected to grow by around 27% to reach 37 million euros, achieving a positive Ebitda of 8%.
The efforts made in the company’s balance sheet during the 2020 financial year, with a capital strengthening of EUR 5 million, maintaining the level of indebtedness and improving asset ratios, have laid the necessary foundations to meet the expected profitability targets for the business, as well as growth for the coming years.
This year 2021, despite the standstill caused by Covid-19 in 2020, Koxka expects to return to double-digit annual growth. In the first 5 years of operations, the foundations have been laid to consolidate the Group with its customers, developing a portfolio of products (we manufacture remote and plug-in refrigeration cases, condensers, evaporators and heat exchangers) that cover the needs that Koxka customers may require, offering both turnkey projects, a competent service, a complete range of spare parts, as well as retrofit and restyling services.