Main conclusions of the January-September 2023 results:
•Revenue increased by 6.1% to €926.2 million, and by 7.9% in like-for-like terms.
• EBITDA increased by 1.1% to €192.6 million, and by 8.9% in like-for-like terms.
• Net profit was 4.1% lower at €100.8 million.
• Net bank debt in September 2023 at €108.6 million was 24.7% lower than the €144.2 million in June 2023 driven by the improvement in cash flow generation in the quarter thanks to the lower investment needs and initiatives to reduce working capital.
• José Domingo de Ampuero y Osma, Chairman of the Viscofan Group: "Inventory adjustment initiatives by casing customers are causing worse than expected market performance, particularly in the Asia Pacific area.
This temporary market situation coincides with a high-cost environment and an unfavourable currency environment that is putting pressure on our margins.
On the other hand, from an operational point of view, the Viscofan Group continues to show great strength, where the results obtained in the machines with the new technology and the cost control implemented allow us to achieve solid growth in revenue and EBITDA in like-for-like terms, reinforcing our vision about the expected margin improvement for 2024 and our Beyond25 strategic plan".
You can find all results information on the Investor Relations site
Viscofan SA published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2023 06:42:41 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.
VISCOFAN, S.A. 
