We have closed an outstanding quarter, in which we outstripped the already extraordinary earnings posted in the first three months of 2023. This milestone confirms the success of our growth lines and the excellent evolution of our two divisions and their respective brands.

With a CAPEX forecast exceeding €177.5 million for this 2024, our strategic investment projects in fresh pasta in France, and cups in North America and Spain, will be concluded throughout this year.

Regarding our core businesses, within the Rice Division, owed to the rainfall in March, a new industrial prospect has opened, forecasting a recovery in rice harvests in the south of Spain. Additional highlights include the Group’s good performance in the Middle East, with the Tilda and Abu Bint brands leading the way, as to a solid entry into other African countries, such as Ghana. In the Pasta Division, we stress the good performance of the fresh pasta business in both France and Canada, and the significant growth of Garofalo in our main markets.

In line with the commitments set out in our Sustainability Plan, the Group has made a firm commitment to the implementation of photovoltaic plants in those production centres where this activity is viable. To date, the total committed investment is over €15 million, and the installed capacity will exceed 15,270 kilowatt peak (KWp). These photovoltaic plants will avoid the emission of 6,000 tonnes of CO2 a year, which is equivalent to planting approximately 2,250 Aleppo pine trees each year.

Thanks to this investment effort, the number of photovoltaic plants installed within the Group now stands at thirteen and the forecast is that, by 2025, this figure will be around twenty.

These photovoltaic installations, mainly destined for self-consumption, will allow us to take advantage of solar energy for the development of our industrial activity while significantly contributing to the reduction of our environmental footprint and carbon emissions. In addition to the environmental benefits, this investment also has positive financial implications in the medium and long term, as it will lead to cost savings in our energy consumption, reducing the impact of possible energy inflation.

This is a clear reinforcement of the Group’s commitment to corporate responsibility and the drive for a more sustainable industry.

We are pleased to share with you some fantastic news that reflects the positive perception our stakeholders have of the Ebro Group’s commitment and efforts in matters of Social Responsibility.

MERCO (Monitor Empresarial de Reputación Corporativa), the leading corporate monitor in Latin America, has recently presented the results of the MERCO Responsibility ESG Spain 2023. This monitor is a ranking that recognises the most responsible companies regarding environmental, social and corporate governance issues within Spain. In its latest edition, Ebro has been ranked the 103rd in 2023, almost reaching the coveted Top 100, and has risen from 174th place it was otorged in 2022!

This achievement is an important step towards the target set out in our RUMBO TO 2030 Plan to be included in the Top 100; who knows, we may even achieve it ahead of schedule. Within ESG in the food sector, we have also improved significantly, moving from 14th place in 2022 to 8th place in 2023.

On the other hand, we have also obtained very good results in the 18th edition of MERCO Talent, the benchmark monitor of Employer Branding. This report not only recognises the most appealing companies for attracting and retaining talent in Spain, but also provides valuable data on employee satisfaction and recommendation. Thus, in the overall MERCO Talent ranking, we have climbed from 189th to 107th place, and in the food sector, from 13th to 8th.

We would like to thank all the professionals of Ebro España who took part in the MERCO Talento surveys, as their feedback has been fundamental in improving the position of our company.

Both awards reflect the commitment of all of us to excellence and continuous improvement.

MERCO is a reputational assessment tool launched in 2000, based on a multi-stakeholder methodology comprising six assessments and more than twenty sources of information. It is the first audited monitor in the world, and the monitoring and verification of its preparation process and results is subject to an independent review by KPMG, in accordance with the ISAE 3000 standard, which publishes its opinion for each edition. All the weighting criteria are public and, as well as the results of each edition, are available on its website.

Riviana has completed the first of two phases estimated from its $80.6M investment in its plant in Memphis, Tennessee.

Riviana U.S. sales of ready-to-serve products, which include both cup and pouch formats, has been the fastest growing business segment in 2023, with nearly 19% increase in volume, which has continued at that pace this year. In addition, this was also driven by Riviana’s significant increase investment in consumer advertising and promotional activities. Therefore, to be able to withhold this business expansion, a fundamental aspect is Riviana´s operational capacity expansion.

“The substantial increase in the plant’s capacity to produce ready-to-serve cups has placed Riviana in a stronger position to meet the growing demand of our customers for high quality, flavorful and convenient food options,” said Enrique Zaragoza, President and CEO of Riviana. “Along those same lines, we look forward to completing the second phase of our investment in the plant, which will add new capacity to produce our ready-to-serve rice pouch products for the US and Canadian markets.”

Work related to the second phase of the investment in the Memphis plant began earlier this year. Such implies that, when completed, the plant premises will account with an additional 65,000 square feet, granting new production capacity for its ready-to-serve pouch product lines of its Tilda®, Carolina® and Mahatma® rice brands. It is expected for this expansion of the Memphis plant to be completed at the start of the following year, meaning the first batch of ready-to-serve pouch products to roll-off the new, modern processing and packaging lines by the first quarter 2025.

For the launch of the Spaghettone Gragnanese XXL cut in Spain, Garofalo hosted an event in Madrid, full of glamour and exclusivity, at the Italian restaurant NOI (https://restaurantenoi.com/).

For this select event, to which 23 guests attended, this including journalists and well-known influencers, the Italian chef Gianni Pinto prepared a unique recipe: Spaghettone Gragnanese XXL with creamy carabinieri, Nduja calabresa and basil pesto, a combination of ingredients that left no one indifferent. A unique recipe for a unique cut never seen before in Spain (2.5mm thick), which can be tasted at the NOI restaurant, as it will remain in menu throughout the year 2024.

Here are some links of the post-launching

 

https://www.instagram.com/pastagarofaloes/reel/C3AZvW7NqnS/

https://www.instagram.com/p/C3DaH0ktdHO/

One third of the world population has no access to drinking water and, based on UN data, it is estimated that by 2050 approximately 5.7 billion people will live in areas with water shortages for at least one month a year.

Environmental degradation, climate change and rapid urbanisation are a few of the challenges for water security.

Although the data collected are not positive, the United Nations World Water Development Report (WWDR) considers that targets can still be met, as long as we all work together.

We share today some guidance to help children learn the importance of responsible use of this precious resource.

Turn taps off when water is not really needed

A tap left on for one minute means wastes around 12 litres of water. 

To show children how important it is to turn the tap off while they are washing their hands, we could collect all the water that is wasted during that time and fill a recipient so that they can see how much is wasted every time they leave the tap on. Remember to put the water from the experiment to good use!

It is important for them to realise that the same applies when they clean their teeth or have a shower, so that they remember to turn the tap off when the water is not really needed.

Using a glass to rinse your mouth after brushing your teeth is another way to use water more responsibly.

If we want children to learn these habits, it is important for other members of the family to practise what they preach. So remember to always turn the tap off when cleaning your teeth, washing your hands or washing up, turning it on again only when the water is really needed.

Showers better than baths

When they are babies baths are the only option and as they grow up, baths can fun and relaxing, while getting them ready for the end of the day. But baths use a lot more water than showers. Whenever this is possible, taking account of their age, get them to take showers, which are also faster and easier.

If baths are preferred even so, it is recommendable to use bath dividers -to section off a smaller space and thus reduce water consumption- or, if appropriate, bath two or more siblings at the same time.

Flush toilets properly

Most cisterns offer the option of a short flush or a long flush. By using the short flush whenever possible you can save around 10 litres of water.

Children must also learn not to throw rubbish down the toilet. When wet wipes, cotton buds and cotton discs are flushed down the toilet, they can cause considerable environmental damage as well as extra water consumption.

Reuse water

Many litres of water can go down the drain when running the tap until hot water comes out. A good solution is to collect that water in a recipient and use it for other everyday purposes.

For example, that water can be used to wash fruit and vegetables, and afterwards, it can be used again to water the plants.

Fill household appliances before using

Over the years, children take on household chores. When the time comes, it is essential for them to understand the importance of making sure the washing machine and dishwasher are full to make the most of the water used.

Some of these appliances have ecological or half-load programmes for when it is not possible to fill them.

The Spanish Association of Manufacturers and Distributors (AECOC) has just awarded Ebro the first “Lean & Green Star” owed to its achievement of reducing by 20% its logistic processes emissions in Spain. This award ceremony took place during the VII Sustainable Logistics Day, in Madrid, promoted by AECOC.

The achievement of this first star is an important milestone as we have managed to reach the reduction targets well ahead of the established time limit. In fact, the reduction achieved is over 35%, which will allow us the possibility to be entitled to the third star next year, once the data, already certified by an external auditor, will be validated by AECOC.

This compromise is compelled in one of the Group’s main action pillars framed within the Group’s General Sustainability Plan “HEADING TOWARDS 2030”, which is to minimise the environmental impact of our business activity.

Lean&Green (https://www.aecoc.es/servicios/leangreen-espana/), is the largest European collaborative platform aimed at reducing emissions associated with the supply chain. It is an international initiative that aims to help companies in all sectors to reduce their greenhouse gas emissions from logistics activities in order to achieve the Paris Climate Summit (COP21) targets of carbon neutral emissions by 2050.