Ebro Puleva, the Spanish food group, yesterday (30 July) posted a 25% jump in half-year earnings despite a dip in revenue as the sale of its sugar business boosted profits.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company, which sold its Azucarera Ebro business to Associated British Foods for EUR385m (US$544.2m) in April, booked net profit of EUR98m for the first six months of the year.
EBITDA was up 21.5% to EUR144m even as sales slid 1.8% to EUR1.12bn.
“Underpinned by a health balance sheet, a broad portfolio of non-cyclical, high value-added products, significant international diversification and a careful management of resources, the company has, in these times of severe crisis, revealed a very healthy financial position, a major increase in yield and a sturdy resistance to the boom of private-label brands,” Ebro said.
“The performance of the group’s principal brands has been excellent, with a powerful share of the different markets in which they operate. The rice and pasta businesses in the US and Canada are particularly strong.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEbro said its rice earnings reached “record” levels, with EBITDA hitting EUR58m. Pasta earnings jumped 54% to EUR61.7m, while Ebro’s dairy unit saw its EBITDA climb almost 35% to EUR31m, helped by its infant nutrition business.
