International food group Calvo increased its gross sales worldwide by 3% in 2015, amounting to a total of €787 M, with respect to a figure of € 765 M in 2014. Gross operating profit (EBITDA) totalled €49.4 M, slightly below the figure of €51.5 M obtained in 2014. Business growth also drove employment. In 2015, 600 additional people joined the group’s workforce, resulting in a headcount of over 5,100 employees, up by 6% over the previous year.
Despite the effect of the Brazilian Real exchange rate on the group’s consolidated accounts (reflecting a depreciation of around 25% with respect to the Euro in 2015) and a downward trend in tuna prices, the Calvo Group managed to increase revenues and sales volume in every market of operation, thereby consolidating and expanding its consumer base.
In 2015, Calvo marketed 104,500 tons of finished product across the more than 70 countries in which the group enjoys a presence through its healthy food brands. This represents an increase of 1.6% with respect to 2014.
As of December 31, 2015, the group had a debt-to-EBITDA ratio of 2.47. According to Mané Calvo, the Calvo Group’s CEO: “Our company’s position from a financial and business standpoint is very solid today, enabling us to look to the future with confidence, while we augment plant investment capacity at the same time. It also makes it possible for us to continue to strengthen our brands and reinforce our commitment to R&D, the company’s levers for growth over the past decade.”
