Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Tuna products from Calvo. (Photo: Calvo)

Grupo Calvo increases turnover in 2017, but its gross profit falls

Click on the flag for more information about Spain SPAIN
Thursday, May 17, 2018, 02:20 (GMT + 9)

Grupo Calvo managed to increase its global sales last year, thus consolidating a decade of growth, but the higher costs of raw material in Brazil had a negative impact on its operating profits.

The international food group recorded a 7.5 per cent increase in its global sales during 2017, compared to the previous year, to EUR 618.3 million, and the volume of sales of finished products grew by 1.7 per cent, to 102,971 tonnes.

However, its normal gross operating profit (EBITDA) was reduced by 6 per cent to EUR 62 million.

"Despite the pressure on the results at its Brazilian subsidiary Gomes da Costa due to the scarcity of local raw materials (mainly sardines) and the depreciation of the Brazilian currency, which implied an increase in its imports, the group increased or maintained the volume of sales and its market share in all countries where it is present," the company said in a statement.

The Managing Director of the Group, Mané Calvo, highlights in particular "the sustained and balanced growth as a trend of recent years", as well as "the excellent financial health" of the company, "in an increasingly complex national and international competitive environment" for food companies, and especially for those manufacturing canned products. "

"Our brands continue to grow and generate stable sales in a sustained and sustainable manner, this is allowing us to invest in updating our plants and processes while reducing the level of our debt to minimum," he adds.

The group indicates that it closed 2017 with a net debt of 1.49 times the normalized EBITDA, which puts it at EUR 92.4 million, and that it had an "especially positive" evolution in Spain, where it achieved market share increases in almost all segments of canned fish.

In addition, it assures that the commitment to innovation ensures that "it is bearing fruit as a growth lever" and that the launch of the new 'ecoline' with a first product of handline caught tuna in olive oil with an ecological certificate, and the consolidation of light tuna, introduced in 2016, "have contributed to reinforce the brand's leadership in the tuna category".

Calvo Group is carrying out an "important" investment project in its production facility in Carballo (A Coruña) focusing, as it explains, on the increase of productive capacity and the search for improvements in operational efficiency.

On the other hand, the group claims its "new steps" in the framework of corporate social responsibility, with the creation of a new responsible purchasing system in collaboration with the Business Social Compliance Initiative, and with the certification of its entire tuna fleet under the 'Responsible Fishing Tuna' standard of AENOR, which assesses environmental, social and labour aspects.

Speaking to the newspaper Expansión, Alberto Encinas, general director of the European division of the Calvo Group, stressed that "the year 2017 was the second best in the history of the company", and did not rule out a possible return to Mercadona, after abandoning its shelves in 2009.

[email protected]
www.fis.com

 

 


 Print


Click to know how to advertise in FIS
MORE NEWS
New Zealand
Jun 19, 03:50 (GMT + 9):
IN BRIEF - Salmon industry could be as big as dairy
United States
Jun 19, 02:20 (GMT + 9):
SeaPark joins the Global Seafood Initiative platform
Ecuador
Jun 19, 02:20 (GMT + 9):
Ecuador to resort to new ways to get more jack mackerel quota
Canada
Jun 19, 02:00 (GMT + 9):
New food regulations fail to address seafood traceability, Oceana regrets
European Union
Jun 19, 00:50 (GMT + 9):
European Council adopts North Sea demersal species management plan
Peru
Jun 19, 00:40 (GMT + 9):
New trout processing plant starts operations in Puno
European Union
Jun 19, 00:00 (GMT + 9):
Brussels adopts new regulations of South Pacific RFMO
European Union
Jun 18, 23:40 (GMT + 9):
European fishermen mobilize against electric fishing
Peru
Jun 18, 22:50 (GMT + 9):
First anchovy season boosts April’s Peruvian economy growth
United States
Jun 18, 22:50 (GMT + 9):
China’s new tariffs worry North Pacific seafood exporters
Argentina
Jun 18, 22:10 (GMT + 9):
China reduces import tariffs for Argentine fishery products
Peru
Jun 18, 21:10 (GMT + 9):
Fisheries exports for human consumption grow 80pct
Peru
Jun 16, 05:00 (GMT + 9):
IN BRIEF - First anchovy fishing season boosts economy growth in April
Canada
Jun 16, 03:40 (GMT + 9):
Grieg NL stands up for new 'escape-proof' cage system
India
Jun 16, 02:30 (GMT + 9):
Shrimp exports to US grow



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Hotel group Iberostar obtains MSC’s chain of custody
Spain Iberostar Group presented on Friday its new sustainable fisheries initiative together with the Marine Stewardship Council, becoming the first hotel chain in southern Europe to have the chain of custody of MSC.
Fresh cod exports grow but frozen cod sales fall
Norway A total of 5,700 tonnes of fresh cod, including fillets, were exported with a total value of USD 25.2 million in May, representing a 4 per cent growth in volume and a 12 per cent increase in value, according to the Norwegian Seafood Council.
IFOP and conservation organization join forces to promote sustainable fisheries
Chile The Fisheries Development Institute (IFOP) and conservation NGO The Nature Conservancy (TNC) signed a collaboration agreement on Friday that promotes joint research activities to advance the sustainab...
Pollock B season started with slight TAC increase
United States Pollock "B" season opened Sunday with a total quota of 731,804 metric tons, which is about one per cent higher than last year, which was 650,095 tonnes.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER