Spanish rice and pasta manufacturer Ebro Foods has reported revenue growth of 16 per cent in 2015, reaching €2.46 billion for the year.
Net profit was almost flat, shrinking by 0.8 per cent to €144.8 million. The company attributes this fall to the fact that the 2014 figure included the €9.9 million divestment of Deoleo, whereas 2015 lacked such an extraordinary income boost.
EBITDA for the year stands at €314.8 million, up 9.6 per cent on the previous year, while profit before tax increased by 6.5 per cent to €229.7 million.
Net debt rose 5 per cent to €426.3 million, but Ebro notes that this is equivalent to 1.36 times EBITDA and as such indicates that the company is in a comfortable financial position to pursue growth.
Rice sales grew in Holland, Belgium, Finland, Spain, USA and Canada, while pasta sales in Europe increased 3.8 per cent even though the market contracted by 1.5 per cent.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Brian Dermody. To subscribe to ESM: The European Supermarket Magazine, click here.
