At Aliaxis, we design and deliver inventive solutions that enable access to water and sanitation, and we are accelerating this work to make sure we have a positive impact on people and the environment.
Our Growth with Purpose strategy
We kicked things into a higher gear in terms of sustainability and innovation with our Growth with Purpose strategy. Building on our core strengths, we set ambitious 2025 targets, with the aim to maximise our impact in the short term. We will reduce our CO2 emissions, multiply recycled content by 4, and invent smart water management solutions. Because ultimately, where water is concerned, we know that every drop counts. We built a plan based on immediate actions and investments generating short-term results. On innovation, we are reinforcing our customer intimacy and increasing our investment: +50% in 2022 and we will triple our R&D budget by 2025. At this date, up to 10% of our turnover will have to be generated by new products.
Our excellent results in 2021 show that we are well on the way with our Growth with Purpose strategy and going into 2022 with real momentum.
In 2021, we doubled our net income to get to €399 million, with revenue growth of 31% to reach €3.7 billion and CEBITDA increasing by 47% on a like-for-like basis1 compared to 2020, which was already our previous record year. Our CEBITDA margin increased from 15.9% in 2020 to 18.3% in 2021. Our debt is very low at under €100 million. The Americas had an extraordinarily strong year, and our other regions each performed very well, all recording growth. Locally-grounded, our teams are fully engaged in their respective local markets to meet our customers’ expectations.
We will pursue our growth agenda to make sure we meet our targets, including achieving an EBITDA of over €850 million by the end of 2025. To reach this goal and continue growing in the long term, we will significantly increase capital expenditure in the next four years, backed by our successful refinancing of the business last year, which secured €1.6 billion to fund our strategy. We have the resources to achieve both organic and external growth, whether in our core business or adjacent ones. In addition, our Aliaxis Next division was launched in 2022. This new division will select, incubate, nurture, and grow businesses from new domains, notably to improve water management and reduce water consumption with a focus on having real societal impact in both the short and long term. Aliaxis Next is all about bringing sustainable solutions in water management, water access, in resilient water infrastructures and in water for food.
With Growth with Purpose, and thanks to the know-how and commitment of our teams, not only are we embarking on a value-creating journey, taking our performance to a new level by 2025, but we are also making a strong, positive and near-term impact on sustainability.