Improved performance and return to positive results RAR Group’s - EBITDA grew 10% in 2014
The RAR Group’s EBITDA increased by 10% in 2014 to €54 million, according to the Group’s Annual Report and Accounts released today. Turnover totalled €976 million and the Group’s net profit attributable to the parent company was €2.5 million.
At the same time as the Group improved its operating performance, it further reduced financial liabilities, achieving a major containment in capital invested in the business. Improved operating performance and the continuous reduction in financial debt have been the focus of attention of RAR Group companies.
The Group’s key companies show growth in turnover and profitability
Colep achieved a solid and positive performance, both in terms of sales growth and EBITDA. In 2014 it posted a global turnover of approximately €512 million. The filling division grew in turnover and profitability and the packaging production division also achieved significant growth, fuelled by demand for aerosols and from the paint industry. The operation in Brazil performed below its potential in a market that has slowed considerably this year. On the other hand, the start of trading in Mexico exceeded expectations, with good prospects of new contracts for 2015.
Vitacress, the company responsible for all the RAR Group’s operations in the fresh produce market, also achieved growth in sales and profitability, with its tomato and fresh herbs operations performing strongly. Salads also grew, helped by a hot summer in the UK and positioning in the fastest growing segments. This growth is also explained by the merger of the salads and fresh herbs operations under a single management team, which enabled Vitacress to achieve an encouraging overall performance and a turnover of £170 million (€211 million).
Imperial maintained its commitment to innovation and efficient management of its brands, which enabled it to maintain a performance in line with the previous year’s and end 2014 with a turnover of €27 million. The good performance of Imperial’s brands is clearly visible in the growth achieved, with the Regina, Pantagruel and Pintarolas brands acquiring leadership positions.
RAR Imobiliária experienced a turnaround year with the property market showing signs of recovery. 2014 proved to be very positive in terms of turnover and results, with a significant number of sales and leases in the “Edifício do Parque” and “Monchique” developments, as well as in the property assets which the Group owns.
RAR Açúcar continued to operate in a very complex environment with strong competitive pressure from European operators – whose operations are also greatly affected - which led to a sharp fall in prices. The scenario was one of global losses for virtually all operators in the industry, and it is therefore expected that prices will recover in future to reasonably higher levels. In this context of considerable challenges and difficulties, RAR Açúcar posted turnover of €72 million and remains determined to reduce costs and optimise operations in order to achieve the desired profitability as the current external problems are overcome.
The Group’s performance in 2014 is testimony to the dynamism of its operations in various regions of the world, based on a strategy of constant pursuit of innovation and reassessment of the multiple factors that contribute to the success of its businesses.
“RAR seen by…” celebrates 15 years
Since 1999, the RAR Group has opened the doors of its companies to the critical eye of Portuguese artists and has included the results of that vision in its Reports and Accounts. This is the basis of the project “RAR seen by…”, whose 2014 edition celebrates 15 years and is available at umolharsobrea.rar.com.
The RAR Group’s Annual Reports graphic design was honoured internationally for two years running with the “Red Dot Design Award” in 2009 and 2010.