The arrival of COVID-19 ("COVID") in March 2020 radically changed everyone's lives. Our Group recorded significant spikes in demand as consumers began to fear food shortages, which has skewed year-on-year comparison data between 2020 and 2021. We would highlight how well the Group has performed against this backdrop.
2020 was a year of profound change at Ebro, as we took important strategic decisions during the turbulent times of the pandemic, which brought the world economy to an unprecedented standstill and shook the very foundations of our society. In spite of this situation, Ebro posted the best results in its history, as increased household demand and our limited exposure to the food service channel (Horeca) allowed us to overcome significant obstacles:
a EUR60 million increase in the cost of raw materials compared to 2019.
a EUR15 million increase in costs relating to COVID.
issues of absenteeism and employee health at some of our plants. the sales process of our dry pasta division in the US and Canada.
We successfully completed the sale of our dry pasta division in North America, as well as closing out a record year. These two events enabled us to pay out an extraordinary dividend of EUR300 million.
So far, 2021 has been marked by the following:
The ongoing pandemic, although household consumption is becoming less impulsive and food service (Horeca) continues to struggle.
Extremely high inflation in the cost of raw materials and packaging, which we envisage will cost an additional EUR45 million for rice and EUR15 million for pasta in 2021.
The upsurge in transport costs, especially from Asia to Europe and the US, which has made it more expensive for us to buy aromatic rice and to export pasta to the US (Garofalo).
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BUSINESS UNIT RESULTS H1 2021
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Ebro Foods SA published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 12:33:23 UTC.
Ebro Foods SA is a Spain-based company primarily engaged in the food industry. The Company's product portfolio includes rice, pasta, cereals and diet products, legumes, as well as organic food, among others. The Company is also involved in the production of soft drinks, pharmaceutical products, animal feeds and biofuels. It markets its products under a variety of brands, such as SOS, Brillante, La Cigala, La Fallera, Saludaes, American Beauty, San Giorgio, 3 Glocken, Skinner, Geovita and Vegetalia, among others. The Company operates through numerous subsidiaries, such as Herba Ricemills SL, Herba Nutricion SL, Panzani SAS, Dosbio 2010 SL, Riviana Foods Inc, Ebro Foods Alimentacion SA, Azucarera Energias SA, Pastificio Lucio Garofalo SpA and Roland Monterrat SA.
EBRO FOODS, S.A. 
