Borges closed the fiscal year with a consolidated profit of 23.7 million
In 2021, the Catalan oil and condiments group celebrates 125 years of history
Despite having recorded a very complicated second half, due to the effects of Covid 19, the Borges International Group achieved a consolidated net result of 23.7 million euros, which will also be used for the reactivation of the hotel and catering sector, as well as for the job creation through investments in sustainability, food security and innovation.
In particular, the pre-tax profit achieved by the company was 29.4 million euros and the Ebitda was 37.5 million euros, reducing the debt to 90 million euros. The turnover reached the figure of 613 million Euros, 11.1% lower than the previous year, mainly due to the reduction in the prices of the main raw materials sold by the Group, such as olive oil, nuts and almonds. Sales on international markets represent 71% of total turnover. The high percentage of sales abroad comes from the marketing of its products in 107 countries through commercial branches in Spain, the United States, France, Italy, Russia, Brazil, India, China, Singapore and Tunisia. Borges sold a total of 307,000 tons of products, among which olive oils stand out with 41% of total sales, followed by dried fruit with 29% and seed oils with 15%, the remaining 15% includes olives, vinegars, durum wheat semolina pasta, sauces, pickles, drinks based on dried fruit and derivatives (seed flour and almond shell).
In 2021 the Group will celebrate 125 years of history with 1,181 employees worldwide, present in 13 countries, with 11 industrial plants and 15 commercial offices. The company is preparing for its 125th anniversary with the inauguration of the Borges House, a project in which 2.5 million euros were invested in the first phase, for the renovation of the emblematic Mas de Colom building and for the adaptation, of the property that surrounds the structure, to the agricultural cultivation of pistachios, almonds, olive trees and walnuts.
The current health crisis caused by Covid-19 has fully impacted the activity of the hotel, bar and restaurant sector, following the interruption of activities that directly affected the survival of thousands of companies. In order to minimize the serious difficulties that this sector has gone through, Borges launched a plan to reactivate the collection of the summer campaign last May, with the donation, to facilitate the reopening, of five million single-dose containers. These requiring minimal handling, increase food safety and reduce the chances of transmission of the coronavirus, compared to other containers that pass from hand to hand multiplying the chances of contagion. These actions meant an economic use of 10.5 million euros for Borges. Likewise, the company has earmarked 2.5 million euros in job creation and measures to protect employees from the pandemic.
EFA News - European Food Agency