Ebro\u2019s\nturnover grew by 7.6% in 2019 to \u20ac2,813.3 million, pushed up by the good\nperformance of its brands.<\/p>\n\n\n\n
It posted an EBITDA-A of \u20ac342.7 million, a year-on-year growth of 11.5%,\nwith a net profit of \u20ac141.7 million, more or less on a par with the previous\nyear. <\/p>\n\n\n\n
Net\ndebt stood at \u20ac999.8 million, \u20ac295 million more than at year-end 2018, which is\nattributable mainly to:<\/p>\n\n\n\n
It\nshould be borne in mind that our debt includes the put options we hold with the\nminority shareholders in some businesses, in a sum of \u20ac165 million.<\/p>\n\n\n\n
Core businesses<\/strong><\/p>\n\n\n\n Rice<\/strong><\/p>\n\n\n\n The commodity price hike at the end of the year was\ndue to the small harvest in the USA, the salinity problems in Spain, the\ndrought in Turkey and the tariffs imposed on rice imported from Myanmar and\nCambodia.<\/p>\n\n\n\n There were two important landmarks in the rice\ndivision during the year: the acquisition of Tilda, one of the world\u2019s most\nprestigious premium brands of basmati rice, present in over 50 countries and\nvery strong in the UK, Middle East, North America and India; and the return to\nprofitability of our North American business thanks to the restructuring\nmeasures taken to get profits back on track at Freeport and Memphis.<\/p>\n\n\n\n The performance of our brands was highly satisfactory\nin Europe, especially in Spain, where sales of Brillante, both Sabroz and the\n\u201cready-to-serve\u201d range, achieved double-digit growth, and also in Germany,\nBelgium, UK and Italy. <\/p>\n\n\n\n The progress of all our brands in the USA was also\npositive, particularly the sales of Minute cups. <\/p>\n\n\n\n The division turnover totalled \u20ac1,566 million, with EBITDA-A at \u20ac192.3 million.<\/p>\n\n\n\n Pasta<\/strong><\/p>\n\n\n\n Commodity harvests were poor in all production areas\nexcept Spain and France, pushing prices up steeply in the second half of the\nyear. The Group\u2019s needs are hedged up to the next harvest.<\/p>\n\n\n\n The most significant aspects regarding business\ndevelopment in Europe were: (1) the cutting back of promotions in Panzani to\ndefend the profitability of both the brand and distributors; (2) the good\nresults achieved by Garofalo, which has continued its positive development in\nSpain and France; and (3) the record levels recorded in Bertagni and Lustucru\ngnocchi sales. <\/p>\n\n\n\n In our North American business, the Health and Wellness products performed well in Canada, while in the USA business returned to normal after the difficulties encountered by our NE distribution hub, with positive effects on profit and sales in the last quarter of the year.<\/p>\n\n\n\n The division turnover totalled \u20ac1,311.9 million, with EBITDA-A\nat \u20ac162.4 million. These figures no longer include the organic business of\nAlimentation Sant\u00e9.<\/p>\n\n\n\n An intense year with\nbusiness growth<\/strong><\/p>\n\n\n\n The Group maintained intense activity throughout 2019,\nwith strong organic and inorganic growth. We reinforced our premium portfolio with\nthe purchase of Tilda, a very important company in this category that\ncomplements the rest of the Group\u2019s portfolio. We continued investing heavily\nin organic development, along with optimisation of distribution in France, our\nnew plant at La Rinconada (Seville), the new skillet gnocchi lines in Canada and\nenlargement of the microwave cup plant in Memphis.<\/p>\n\n\n\n The major organisation and production restructuring in\nour North American business started to bear fruit in 2019 and we expect the\neffects to be even more visible in 2020.<\/p>\n\n\n\n We also worked during the year on building up the\nhealthy and organic categories of our principal brands and on focusing our\nresources and efforts on the premium, fresh and conveniencelines, pulling out of Alimentation Sant\u00e9, an\norganic business geared towards the specialised distribution channel.<\/p>\n","protected":false},"excerpt":{"rendered":" Ebro\u2019s turnover grew by 7.6% in 2019 to \u20ac2,813.3 million, pushed up by the good performance of its brands.<\/p>\n","protected":false},"author":2,"featured_media":22839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[19],"tags":[],"class_list":["post-22843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/posts\/22843","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=22843"}],"version-history":[{"count":3,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/posts\/22843\/revisions"}],"predecessor-version":[{"id":29002,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/posts\/22843\/revisions\/29002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/media\/22839"}],"wp:attachment":[{"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/media?parent=22843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/categories?post=22843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ebrofoods.es\/en\/wp-json\/wp\/v2\/tags?post=22843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}