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Calvo increases profits and turnover
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Calvo tuna cans. (Photo: T.Ezcurra)
Calvo increases profits and turnover
SPAIN
Monday, May 28, 2012, 22:40 (GMT + 9)
Calvo multinational company ended last year with a turnover of EUR 566.2 million, 15.1 per cent more than in 2010, and a gross operating profit (EBITDA) of EUR 41.8 million, a figure that shows an increase of 3.3 per cent.
For Manuel Calvo, the company council representative, the year 2011 was “excellent”, as revenues increased in the three major markets in which their products are traded: Spain, Italy and Brazil.
The executive noted that the Brazilian market continues to provide the largest volume of activity to the income statement, with 47 per cent of revenue, the agency Europa Press reported.
According to the data provided by the business group, sale growth was maintained during the first quarter of 2012.
Between January and March this year, sales totalled EUR 155.5 million, that is to say, 5.1 per cent over the same period in 2011.
In addition, in the first quarter of 2012 the company achieved a 3 per cent increase in EBITDA, amounting to EUR 13.6 million.
The CEO said this success was due to “the good choice of strategy” in Calvo, based on internationalization, investment and innovation.
“The company’s status is shown through EBITDA and EBITDA growth is accompanied by net growth,” added Manuel Calvo, La Opinion reported.
In addition, he anticipated that during 2012 the investment in research, development and innovation (R+D+i) will be kept “in around three million [euro].”
For Enrique Orge, Calvo CEO, gross operating results were “the best the company has ever achieved.”
He stressed that the business turnover in the Italian market was able to reach “an increase of 8 per cent” and Spain recorded a 1.5 per cent increase, a figure considered good “given the circumstances.”
In this sense, he also assured that while the company, being multinational, has taken a commitment towards internationalization, “Spain is still an unquestionable choice.”
In national plants 170 jobs were created, mainly in those located in Galicia, and the company will continue pursuing “the protected designation of origin of the Galician mussel” through platforms associated with this name, Orge added.
He also mentioned that “companies experiencing growth must have further debts.”
According to Manuel Calvo, the total workforce of the company amounts to almost 3,700 employees, and they intend to continue creating jobs this year.
In connection with the joining of a new partner – Bolton — in April, with 38 per cent of the capital, Manuel Calvo declared that “there are no prospects of change in the future” that would imply the firm stops being a Galician group, which is controlled and managed by Calvo family, the newspaper El Pais reported.
Bolton bought 22 per cent of the cannery that was in the hands of former saving corporations and another 16 per cent from the founder’s family.
The CEO believes it was a “magnificent” operation as “those entities that wished to stop having capital achieved very important profits.”
Finally, Orge said that in the domestic market Calvo Group maintains a 16.4 per cent share of light tuna in vegetable oil and in the case of mussels the share exceeds 10 per cent.
Related articles:
– Bolton Group acquires 40 pc of Calvo
– Calvo focuses its future business in Brazil, China, India and Russia
By Analia Murias
editorial@fis.com
www.fis.com
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