Spanish rice and biscuit group Sos Arana Alimentacion SA-Cuetara has revealed plans to generate net profits of €21.43m (US$18.6m) in 2002, up 107.25% year on year.
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Sos’s CEO Raul Jaime Salazar Bello added yesterday [Monday] that 2002 EBITDA (earnings before interest, taxes, depreciation and amortisation) is projected at €89.8m, while sales should grow 4% year on year to reach €783.3m.
The company explained that the successful integration of cooking oil producer Koipe SA, which SOS acquired at the end of last year, would be key to achieving this result.
In 2001, net debt at the company was recorded at €321.6m in 2001 and Sos plans to decrease this €291.2m by the end of this year. Net debt should have decreased to €185.7m by 2004.
Looking forward to 2004, Sos plans to post sales of €839.2m and a net profit of €39.3m.
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