Viscofan Group releases its July - September 2021 results
October 28, 2021 at 12:33 pm EDT
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Main highlights of the July-September 2021 results:
> €245.6 million in revenue, up 9.2% year-on-year setting an all-time high in quarterly terms.
> €64.1 million in EBITDA, up 9.2% year-on-year, with EBITDA margin stable at 26.1% compared to the previous year.
> €35.6 million in net profit, up 16.7% year-on-year.
> €15.1 million of Capex in the quarter. Higher investment level as mobility restrictions are reduced, highlighting the start-up of the new fibrous production lines in Cáseda (Spain).
> Net cash position of €31.5 million in September 2021 compared to €38.2 million of net bank debt in December 2020 driven by the strength of the operating results.
>José Domingo de Ampuero y Osma, Chairman of the Viscofan Group:
"We have achieved an all-time high in quarterly revenue, - and one of the highest levels in net profit- combining service with commercial discipline, and production efficiency in a context of a stressed global supply chain and inflation in energy costs.
The strength of these results leads us to set our expectations for 2021 slightly above our initial guidance for the year.
The success of the projects carried out during this strategic period MORE TO BE and the commitment of our people have been key to develop a business model that allows us to face different environments, becoming a more solid and sustainable company on which to build our future projects with optimism".
You can find all results information on Viscofan´s Investor Relations website, LINK
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Viscofan SA published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 16:32:03 UTC.
Viscofan SA is a Spain-based company engaged in the packaging industry, mainly for meat products. The Company focuses on the manufacture and distribution of artificial castings, as well as plastic films that are used for separation of sliced food. Its products range includes cellulose, collagen, fibrous and plastic castings. In addition, it designs and produces packing machinery, as well as provides related spare parts. The Company also sells electric power, which is produced by cogeneration systems. The Company operates manufacturing plants and sales offices in Spain, Serbia, Czech Republic, Germany, Brazil, Mexico, Uruguay, China and the United States, among others. It controls a number of subsidiaries, such as Nanopack, Technology and Packaging SL, Naturin Viscofan GmbH and Viscofan Centroamerica Comercial SA.