RAR Group posts turnover of 987 million in 2011

The RAR Group posted turnover of 987 million euros in 2011, 7.6% up on the previous year, while keeping operating profitability unchanged. Consolidated operating cash flow (EBITDA) was 51 million euros. After completing the reorganisation of its European operations, in 2011 the Group pursued its geographic expansion strategy in Brazil.

Colep’s turnover increased by around 7%, contributing positively to the strong growth of the Brazil operation, and posted EBITDA of 34 million euros. There was a recovery in contract manufacturing in Europe balanced, however, by a fall in the packaging division due to its exposure to the Iberian market.

The Vitacress business, although hit by the poor summer in the United Kingdom and the E. Coli crisis, managed to maintain sales at the same level (171 million euros), but with higher EBITDA growth of 10%, or approximately 8.8 million euros. The introduction of products complementary to salads in Portugal and the launch of the “Steve’s Leaves” brand in the United Kingdom have produced promising results.

Acembex maintained its leadership position in Portugal as an importer of cereals and cereal derivatives, posting turnover of 183 million euros (18% higher than in 2010). RAR Açúcar, whose business continued to be dampened by the badly framed EU sugar refining legislation, managed to put EBITDA on a positive footing again, posting turnover of 100 million euros in 2011.

In the chocolates sector, Imperial’s turnover rose slightly, with an 18% increase in EBITDA to 2.5 million euros. RAR Imobiliária, despite being the RAR company most heavily affected by the economic and financial situation in Portugal, maintained EDITDA of over 3.8 million euros. GeoStar saw a slight fall in turnover to 52 million euros.

Overall, the Group further consolidated its international ambitions and now has production units in Portugal, Brazil, Germany, Poland, Spain, and the United Kingdom. Currently, over 70% of its turnover derives from outside Portugal. The RAR Group currently has over 6,000 employees of different nationalities.