Year-on-year growth of over 4% - RAR Group’s turnover in 2012 passes the one billion euro mark

The RAR Group posted turnover of 1032 million euros in 2012, approximately 4.5 per cent higher than in the previous year, and operating cash flow (EBITDA) of 48 million euros. Despite the economic crisis, the Group's performance remained stable as the result of a diversification strategy to reduce exposure to the domestic market. Currently, EBITDA generated in Portugal represents only one-third of consolidated EBITDA. Outside Europe, Brazil already accounts for over 15 per cent.

On an individual company basis, Colep remained the largest contributor to the Group’s global sales in 2012. Colep’s turnover increased by over 6 per cent in 2012 to 543 million euros. Turnover in Brazil increased by 20 per cent compared with 2011, despite the delay in licensing the new manufacturing plant caused by bureaucratic problems that are now resolved. In Europe the aerosol filling and manufacturing businesses posted good performances despite the effects of the economic crisis.

Vitacress had a positive year despite being affected by the adverse summer weather in the UK which had a negative impact on production and consumption. Even so, turnover increased by over 3 per cent to 190 million euros, with EBITDA growing 18.5 per cent to 11 million euros. In Portugal, the company maintained its leadership position and improved its operating performance despite the deep economic downturn. Positive results also for tomatoes grown under glass, which saw UK sales growth of around 20 per cent as a result of the recent turnaround.

Acembex, which maintained its national leadership as an importer of cereals and cereal derivatives, posted turnover very similar to that in 2011 (182 million euros), although with a significant reduction in EBITDA caused by the wave of port strikes which caused the company operating margin losses. RAR Açúcar’s business continued to be heavily affected by the EU legislation which has caused difficulties in the supply of raw materials and high volatility of purchase prices, which remained high for almost the whole of 2012. The substantial increase in energy costs also had a negative impact on the company’s profitability.

In its 80th anniversary year, Imperial posted its best results ever, with substantial growth in turnover (24 million euros) and profitability.