· The 1H consolidated earnings, with growth of more than 20%, demonstrate the extraordinary strength of the business model forged by the Ebro Puleva Group.<\/p>\n
· Net profit grew 25% to 98 million euro.<\/p>\n
· EBITDA rose 21.5% year on year to 144 million euro.<\/p>\n
· The Group posted a net turnover of 1,120 million euro.<\/p>\n
· It reduced its debt by 53.4% to 582 million euro.<\/p>\n
· With the launching of new products, the group has increased its investment in advertising by 10% to 49 million euro.<\/p>\n
Madrid, 30 July 2009<\/b>. The Ebro Puleva Group chalked up a net profit of 98.2 million euro in the first half of 2009, up 25% year on year.<\/p>\n
The operating figures also revealed strong growth. The EBITDA or gross operating profit grew by 21.5% to 144 million euro, while the EBIT or net operating profit was up 31% on June 2008 at 110 million euro.<\/p>\n
Net turnover totalled 1,120 million euro, sliding 1.8% year on year.<\/p>\n
The generation of operating income, management of working capital and receipt of the proceeds from the sale of the sugar business made a decisive contribution towards reducing the company¿s final debt, which has been brought down to 582 million euro, 53.4% lower than in the same period of 2008.<\/p>\n
In accordance with the strategy of building value around the group¿s brands, the Group stepped up its investment in advertising to 49 million euro (+10%). <\/p>\n
The force of the Meal Solutions business model<\/b><\/p>\n
The strong growth recorded by the company in the first half of 2009, at rates of over 20%, reflects the solvency of the business model that the Ebro Puleva Group has forged in recent years. Underpinned by a health balance sheet, a broad portfolio of non-cyclical, high value-added products, significant international diversification and a careful management of resources, the company has, in these times of severe crisis, revealed a very healthy financial position, a major increase in yield and a sturdy resistance to the boom of private label brands.<\/p>\n
The performance of the Group¿s principal brands has been excellent, with a powerful share of the different markets in which they operate. The rice and pasta businesses in USA and Canada are particularly strong.<\/p>\n
Core businesses<\/u><\/b><\/p>\n
Rice<\/b><\/p>\n
The evolution of results in this division has been satisfactory, based on the excellent performance of the Riviana and Minute Rice businesses, which have grown 20% in both sales revenue and EBITDA. The boom of private label brands in basic categories, especially in southern Europe, has slightly affected the division, with a reduction in volumes of low-contribution products. However, high value added products achieved a remarkable growth, taking earnings to record levels. The division turnover was 443 million euro and its EBITDA rose to 58 million euro.<\/p>\n
Pasta<\/b><\/p>\n
The stabilisation of raw material prices, the vast increase in pasta consumption and the synergies obtained in our American businesses, through Ebro North America, all contributed towards a significant yield enhancement, up 54% year on year even after investing 7% more in advertising, generating a division EBITDA of 61.7 million euro. The net turnover of this division was 464 million euro.<\/p>\n
Dairy<\/b><\/p>\n
The constant launching of new references and the continuous segmentation of markets by Puleva is being rewarded by consumers, who have stood by our high value added products; the division has thus steered clear of the current trend on a market dominated by the low prices of the private label brands. With this and the excellent performance of the infant nutrition range, the division has completed a remarkable first half of the year with an EBITDA if 31 million euro, up 34.7% year on year, and a turnover of 222 million euro.<\/p>\n","protected":false},"excerpt":{"rendered":"
· The 1H consolidated earnings, with growth of more than 20%, demonstrate the extraordinary strength of the business model forged by the Ebro Puleva Group. · Net profit grew 25% to 98 million euro. · EBITDA rose 21.5% year on year to 144 million euro. · The Group posted a net turnover of 1,120 million… Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[19],"tags":[],"class_list":["post-1357","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/posts\/1357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/comments?post=1357"}],"version-history":[{"count":0,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/posts\/1357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/media?parent=1357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/categories?post=1357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/tags?post=1357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}