The Chairman began his speech by expressing his satisfaction with the success achieved in the 2022–2024 Strategic Plan, an undoubtedly complex period due to inflation, geopolitical conflicts, drought in Andalusia, and operational challenges such as shortages of skilled labor at some of our plants. Despite these difficulties, thanks to its strength, diversification, and adaptability, the Group has reached its best-ever EBITDA – €413 million- well positioned prepared to face the new cycle with a stronger, more modern, and more efficient structure.
Among the key milestones in 2024, he highlighted the investment effort in organic growth, with a CAPEX of €155 million allocated to expanding production capacities in Spain, the U.S., France, Canada, Italy, and Belgium, further strengthening Ebro’s leadership in convenience, ingredients, and fresh pasta categories.
He also referred to the launch of the new Plan 25-27 in a challenging environment filled with significant new obstacles, including U.S. tariff policy uncertainty, the intensification of commercial competition among distributors, the rise of private labels, and the rapid imitation of the Group’s initiatives by competitors—all factors requiring constant adaptation. In light of these challenges, he emphasized that a culture of continuous listening and a firm commitment to innovation have never been more crucial, remaining essential for maintaining competitiveness and reinforcing market leadership through the development of new products,
Regarding the Rice Division, Antonio Hernández highlighted the positive results achieved in markets such as Saudi Arabia, Ghana, Morocco, and Spain, as well as the consolidation of its reputation in the U.S. thanks to Riviana’s strong performance, even in a challenging logistical environment.
He also pointed out an exceptionally strong year for the Pasta Division, with notable growth across all brands and an improved market positioning against new competitors. He specifically underscored the advancements of Garofalo—now the second-largest brand in Spain—and the strong results of Bertagni and Lustucru in Europe and North America, respectively.
In terms of consolidated results, he reviewed sales growth, margin improvements, the increase in net profit, record EBITDA-A, and an upcoming dividend increase for 2025, from €0.66 to €0.69 per share—all supported by a healthy financial position and a diversified, resilient business model.
He concluded his speech by expressing gratitude for the trust of shareholders, the effort and dedication of employees in achieving these results, and the work of the Board. He also conveyed his ambition for the new Plan 25-27, focusing on four key areas: 1) consolidating EBITDA-A above €400 million, 2) maintaining leadership in a highly competitive environment, 3) improving industrial costs through the implementation of new technologies, and 4) continuing to innovate to meet evolving consumer demands.
