Viscofan bills 22% more and earns almost 65 million in six months

Viscofan factura un 22% más y gana casi 65 millones en seis meses


ViscofanManufacturers and marketers of artificial cellulose, collagen and plastic casings for meat products, closed the first half of 2022 with a profit of 64.8 million eurosup 1.2%, the company told the National Securities Market Commission (CNMV).

Specifically, sales increased by 21.9% to EUR 568.02 million. The company has said that second-quarter sales hit a new historic quarterly high of €305.2 million, up 28.5%, with double-digit growth in both traditional and new business.

For his part Gross operating profit (Ebitda) up 1% through Juneand reached 122.5 million euros with high pressure on energy costs and raw materials.

In the first half of the year, Viscofan invested a total of EUR 40.7 million within the target of investing EUR 100 million per year, reflecting the progress made on the capacity and transformation investment plans set out in the “Beyond25” strategic plan.

optimism in the future

Net bank debt increased to 34.2 million euros at the end of June, up from 1.8 million in December 2021, reflecting the increase in working capital as a result of the sales acceleration in the last quarter and a larger supply of raw materials, and increases in safety stocks related to tighter Supply Chains and the payment of €19.9 million in June as a supplementary dividend.

Viscofan President, José Domingo de Ampuero y Osma, has indicated that the results of the first half year allow the company “to look to the future with optimism”. “Maintain our roadmap outlined in the strategic plan, including our transformation projects, and move forward to achieve expected results for the year,” has indicated.

“The launch of the Beyond25 strategic plan coincided with one of the most adverse environments in recent history, leading to both a rise in the prices of manufacturing inputs and a greater need for our products, an essential ingredient in the staple diet of millions of people,” stressed he.

The company’s chairman highlighted the company’s “responsiveness” to “increase production volume, success in launching new products in the new division and the strength of our financial balance have allowed us to achieve all-time highs in half-year sales and EBITDA” .

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