International food group Calvo achieved a global net sales figure of 575.4 million euros in 2016, amounting to an increase of 4.7% with respect to 2015. The company’s gross operating income saw considerable growth, totalling 66 million euros, up by 34% over the previous year.
Since 2014, Grupo Calvo prepares and submits its consolidated annual accounts by applying the criterion specified under the International Financial Reporting Standards (IFRS). Revenue, therefore, is entered by calculating the net from all types of commercial and promotional activities.
Once again in 2016, Spain’s leading group dedicated to canned fish and seafood demonstrated the company’s strategy soundness and strength of position in all markets, augmenting its capacity to generate recurrent income and increasing business profitability. Since 2009, the Group has quadrupled its EBITDA and cut the debt-to-EBITDA ratio by 24%, bringing it down to 2.0.
Grupo Calvo CEO Mané Calvo underscored the path of sustainable and profitable growth the Group has followed for over a decade, as well as the fact that this growth has been seen year after year, even in the maturest markets. He thus reaffirmed Grupo Calvo’s commitment to innovation and ongoing operational and commercial improvement.
Innovation
As far as innovation is concerned, the year ended with an investment of 1.6 million euros in R&D+i. This materialised in new product launches, including Calvo Light Yellowfin Tuna. A new category forerunner with 50% less fat, this product is geared towards consumers with ever-growing awareness of the benefits of a balanced, low-fat diet.
In 2016, Grupo Calvo also embarked upon an ambitious industrial transformation project for the next four years. The initiative will entail a 24-million-euro investment in the Carballo (Galicia) facility. Based on continual improvement, this process seeks to achieve maximum plant efficiency, competitiveness, flexibility and sustainability.
