- Net turnover increased by 6.1% to 737.69 million euros, with 45.05 million euros EBITDA and 22.8 million euros net profit.
- Sales in Spain grew 4% compared to the previous year.
- Sales outside of Spain increased by more than 14%, to almost 58 million euros.
- Innova Food Ingredients, CAPSA FOOD’s ingredients division, increased sales by 9%, exceeding 100 million euros turnover.
- CAPSA FOOD paid more than 9 million euros in the concept of leasing the brand and dividends to Central Lechera Asturiana SAT. Also, the purchase price of the milk CAPSA pays to Central Lechera Asturiana SAT dairy farmers is 10.7% above the national average.
The CAPSA FOOD (Corporación Alimentaria Peñasanta SA) Ordinary General Shareholders’ Meeting has approved the annual accounts and presented the results for the 2018 financial year.
CAPSA FOOD closes the best year in its history, with 737.69 million euros turnover (+6.1% over the previous year), 45.06 million euros EBITDA (20% higher than in 2017) and 22.8 million euros net profit, 51% more than in 2017.
The period ended with 928,529.14 million litres of milk collected from 100% Spanish origin, which is an increase of 1.5% compared to 2017.
The brands’ good performance in the Spanish market, as well as the diversification in business and geographies, were key factors in this year’ financial result.
In mass consumption, and in terms of the leading brands’ market share (Source: Nielsen), CAPSA FOOD expanded in all the markets in which it operates (milk, cream, butter and cheese). In the liquid milk market at the end of 2018, its market share was 16.1%, evolving 5.7% with respect to 2017. CAPSA FOOD’s share in cream was 18.6% (+10.1% compared to the previous year), in butter 26%, which was 21.9% more than the previous year and its market share in cheese was 3.7% higher.
The Food Service division continued to grow in number of customers who are served by more than 800 distributors, also incorporating cold products such as yoghurts and cheeses, achieving over 136 million euros turnover in this financial year, 5% above the previous year.
Sales in Spain in the FMCG and Food Service markets increased by 4% compared to the previous year.
Sales outside of Spain increased by more than 14%, to almost 58 million euros, which represents close to 8% of net turnover. Angola, France, Greece, Cape Verde and Seychelles are the new countries in which the company began operating in 2018, which means it currently operates in around 50 countries.
Innova Food Ingredients, CAPSA FOOD’s ingredients division, sales grew by 9% compared to 2017, exceeding 100 million euros in turnover.
With regard to new businesses as a growth channel, CAPSA initiated several projects throughout 2018. In the first quarter of the year, it placed its ECO brand ASANA on the market, which has evolved positively with significant growth since its introduction into the specialist eco channel, already achieving positioning as the second-leading brand in the Spanish market. Within this field of diversification, CAPSA FOOD has also signed a collaboration agreement with Medical Nutrition, Cantabria Labs to develop and market new formulas in the field of clinical nutrition for sale in pharmacies. At the end of 2018, the dairy company also acquired a shareholding in RAW SUPERDRINK with a 25% participation, thus making its first foray into the market of hydrating and isotonic drinks.
Throughout 2018, the company continued to develop its 2015-2019 Strategic Plan, thereby achieving its aim: “Assure the future for farming partners and offer natural products and services that improve people’s health and quality of life in a sustainable environment.” Aligned with this purpose to assure the future for farming partners and acting as an instrument for the shareholder, CAPSA FOOD paid Central Lechera Asturiana SAT more than 9 million euros in 2018, of which about 3.4 million was in concept of leasing the brand and 5.85 million euros in dividends from Fiscal Year 2017, within the distribution policy of 50% of CAPSA FOOD’s annual profit. Also, the purchase price for milk that CAPSA FOOD paid to Central Lechera Asturiana SAT was 10.7% above the national average.
Nutrition, together with charitable work in society, is also very important for CAPSA FOOD; it therefore donated more than 110,000 kg/L of product to organisations such as the Food Bank, No child without dinner, etc.
CAPSA FOOD (Central Lechera Asturiana, Larsa, ATO, Vega de Oro and Innova Food Ingredients) is the leading company in the Spanish dairy market and aims to assure the future for farming partners offering natural products and services that improve people’s health and quality of life, in a sustainable environment. CAPSA FOOD is the leading company in the Spanish dairy market with seven production centres throughout Spain providing direct employment for more than 1,300 people with international presence in almost 50 countries.
In 2019 it was recognised as the food company with the best reputation in Spain according to the REPTRAK study by the Reputation Institute. CAPSA FOOD is also the first Spanish food company to have the 500+ European Seal of Excellence awarded by the European Foundation for Quality Management (EFQM) and the Excellence in Management Club (CEG), which implies that it is a well-managed company and a “model to follow” in Spain, a company that innovates in the market with new formats and new products with functional benefits and creates an excellent work environment for professionals’ development.
Within its concern for social responsibility, CAPSA FOOD supports the primary sector and the rural world, promoting health through nutrition and healthy living habits, protecting the land while respecting the environment and continuing to be an exemplary employer as it has done since it was founded.