The organization, which is clear about the growth potential of its brands and products globally, continues to strengthen its structure in order to face the challenges of the future
CRUZBER, one of the most important manufacturers of roof racks, roof bars and transport accessories in the European market, take stock of the 2024 financial year in which it has achieved its best results in its 60-year history. The 2024 financial year has been characterised globally by sustained growth despite challenges such as persistent inflation, labour shortages and geopolitical tensions; while the roof rack market continues with positive trends and growth expectations above that of the global economy.
CRUZBER offers a complete range of transport solutions for passenger cars, SUVs and commercial vehicles, with a clear commitment to the growth of its product brands – CRUZ & FIRRAK – globally. Its products are present in 43 markets, through its ~500 distributors and, in 2024, has managed to exceed turnover of 15 million Euros.
The trend of sales during the 2024 financial year has been similar to that of previous years in terms of seasonality and monthly distributions. CRUZBER has achieved its best annual turnover by exceeding 15 million euros. These are very positive results for the organization, specifically, the best result in the history of CRUZBER. These results represent more than 47 percent growth compared to 2019 – the pre-pandemic base year and is just over 3 percent growth compared to 2023.
The first half of 2024 (H1), which represents more than 53 percent of the total for the year, was marked by a slower growth compared to previous years. This was mainly due to the late start of sales in spring, although this first half closed with an increase of just over 1 percent. The second half of the year (H2), as in the previous year, was more positive, with growth registering more than 5 percent due to a strong fourth quarter (Q4) of the year.
Global sales were split 51 percent to 49 percent between Spain and exports respectively, which represents exactly the same ratio of foreign trading as in 2023. The main markets in order of importance with respect to turnover are: Spain, with 51 percent; France, with 10 percent; Poland, with 9 percent; and, the United Kingdom, with 8 percent, despite the fall experienced in 2023, as a result of Brexit, from which most sectors have not yet recovered.
CRUZBER is focused on important markets in Europe, where its market share has a lot of growth potential; in North America, a market in which the organization recently began its journey; and, in Australia, where after years of presence in the roof rack market par excellence, it is considered the right opportunity to make inroads. It is worth noting the continuous growth of sales in Spain, where despite being a consolidated and mature market for the company, it continues to grow year after year.
In the 2024 financial year, the parent product category PC (Passenger Car) represented a lower weighting within CRUZBER’s portfolio compared to LCV (Light Commercial Vehicle), with 46 percent and 54 percent of total sales respectively. The parent product category PC’s lost share against LCV is due to the renewal of company and self- employed vehicle fleets and the expansion of the product category in international markets. PC share has fallen by just over 1 percent compared to the 2023 financial year. It’s worth noting, however, that this can be attributed to the LCV parent product category closing 2024 with growth of close to 8 percent compared to the 2023 fiscal year.
Despite not reaching the figures for the 2022 financial year, the bicycle rack product category experienced the largest increase, with a growth of close to 20 percent compared to 2023, partly recuperating from the post-pandemic decline. The product category with the greatest decline has been boxes and cases, more than 10 percent, as a result of a drop in demand for products in this category as a whole. However, CRUZBER continues to speculate with both product categories as a basis for its future growth, presenting important product launches, including: the new CRUZ Paddock elite 550 roof box, which offers greater capacity and cargo space with a sporty design; and the new CRUZ Kicker bike carrier for the North American market, a robust hitch platform bike carrier, with anti-theft system, allowing transportation of bikes whilst completely eliminating contact with the frame or fork.
CRUZ, the main product brand, has a global sales weight of more than 95 percent, a presence in 43 markets and will continue to be CRUZBER’s main focus. The secondary product brand, FIRRAK, present in 6 markets globally, accounted for 3 percent of the CRUZBER’s total turnover. Original equipment manufacture or private label for third parties has never been the focus of CRUZBER’s efforts and, in 2024, was represented by only 2 percent of total sales.
The 2024 financial year has been the first full year of CRUZBER since it began direct sales in Spain to the end consumer through its product websites CRUZ (cruz-products.com) and FIRRAK (firrak.com). These direct sales represent 2 percent of annual turnover. The objectives of direct sales – to be closer to the end consumer, improve brand awareness, expand and improve service, and obtain faster and closer feedback that helps to constantly improve products and services – are being met. This is why CRUZBER will continue with direct sales to the end consumer and also plan to introduce direct sales into other markets in different phases over the coming years.
Marisa Cruz, CRUZBER’s financial director, valued the results very positively: “We are proud to share the excellent results achieved in 2024, a year in which, despite the multiple global challenges, we have managed to consolidate ourselves as a benchmark in the sector of roof racks and transport accessories. Reaching a record turnover of more than 15 million Euros and expanding our presence to 43 markets is a reflection of the effort, dedication and strategic vision of the entire CRUZBER team. Our growth has been constant, which demonstrates our ability to adapt and lead in the sector. Spain remains our core market, but we are also making progress in key markets in Europe, North America and Australia, driving for international expansion.”
People are CRUZBER’s greatest value and everything it has achieved is thanks to the commitment and professional development of a highly motivated team. CRUZBER’s team is made up of approximately 140 people, all of them with a firm belief in the project, who offer excellence in service, work as a team, have a clear customer orientation and are committed to sustainability.
CRUZBER has continued to work during 2024 on improving the global supply chain to ensure greater flexibility and adaptability in the face of expected growth. The organisation continues to implement different actions initiated in 2023 and has added significant investments in innovation, processes, equipment and infrastructures to guarantee continued success and growth that is sustainable and environmentally friendly. In 2024, CRUZBER made investments of more than 10 percent of global turnover during the year. Among the main actions are the addition to the production process of new facilities with laser tube cutting, which not only improves the production process by reducing times and offering energy savings in manufacturing, but also means eliminating processes carried out, until now, externally and to undertake these tasks internally. Additionally, the consequent improvement in the quality control of products; and the addition of a new building of more than 2,500 square meters for the storage of semi-finished product and the assembly and packaging of bicycle racks and other accessories, which brings the total area of CRUZBER’s headquarters to more than 18,000 square meters. In short, CRUZBER has a clear focus on innovation, continuous improvement and sustainability as essential areas for its future growth.
Gregorio Cruz, managing director of CRUZBER, is excited about the future of the organization: “We have continued to invest in innovation, processes and new infrastructure to strengthen our supply chain and improve operational efficiency. The incorporation of new technologies, such as laser tube cutting and the expansion of our facilities, is a key step in continuing to offer the highest quality products to our customers. None of this would be possible without our team, made up of 140 professionals committed to excellence, sustainability and continuous improvement. The trust of our customers and distributors, together with the spirit of innovation and constant improvement that characterises CRUZBER, motivates us to continue growing and offering the best solutions in the market. We look to the future with enthusiasm and determination, convinced that the coming years will bring new opportunities and even greater achievements for our organisation.”
CRUZBER is constantly working to achieve its ambitious long-term objectives, which are: to achieve a turnover level of more than 25 million Euros; to achieve exports representing more than 65 percent of turnover; to be present in more than 60 markets on five continents; to maintain profitability at around 20 percent (EBITDA) and to reduce its total emissions by 90 percent. To this end, the organisation has established its roadmap with a focus on user experience and sustainability and is based on three fundamental pillars: growth driven by product development, efficiency throughout the supply chain, and the development of markets and channels.