A very satisfactory first quarter

The Group has closed its first quarter on a highly positive note in terms of revenues, in large measure due to the addition of Tilda, which contributed €7 million to EBITDA-A, the positive effect of industrial investments made over the past three years (€408 million), and higher sales in the final two weeks of March thanks to the lockdown. Sales thus rose 22.5 %, to €845 million, and EBITDA-A reached €106.4 million, 26.4 % more than in 2019.

A variety of factors have enabled us to cope securely with the difficult global situation caused by the coronavirus outbreak. These factors include our business model, our worldwide presence, our solid production capacity, our extensive product portfolio, our fast decision-making, and a strong commitment by everyone in our organization. For all these reasons, our products have been in 100% of the shelves everywhere in the countries where we have a presence, all through the crisis.

We wish to express our appreciation to all of you for your steadfastness and professional demeanor in these difficult times; thanks to all those who are a part of this great Group, we have been able to react as expected of a socially responsible world leader committed to its customers.