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Viscofan Group releases October-December 2019 Results

Main highlights of the October-December 2019 results:

>> €223.9 million in revenue in the quarter, a new all-time high, up 7.5% on the previous year driven by growth in all casing families.

>> €57.7 million in reported EBITDA, up 5.3% on the previous year and 4.4% in recurring terms.

>> €32.9 million in reported Net Profit, down -6.0% on the previous year and -10.3% in recurring terms.

>> €42.5 million in net bank debt as of December 2019, down 46.6% on the €79.6 million as of December 2018 as a result of the strength of operating results, lower investment needs and improved working capital management.

>> The acquisition of the collagen casing division from the Japanese group Nitta Gelatin Inc. in December 2019 for an enterprise value of €12.8 million has strengthened the leadership of Viscofan and completes the productive portfolio for this technology in North America.

>> The Board of Directors has agreed to propose to the General Shareholders' Meeting a final dividend of €0.96 per share, driving total remuneration in 2019 to €1.62 per share, an increase of 1.3% over total ordinary remuneration for the previous year.

>> According to José Domingo de Ampuero y Osma, Chairman of the Viscofan Group: "These results clearly show our operational and financial strength. In spite of the difficulties during the first few months of the year we have continued to grow, increasing our market share, diversifying the source of growth, incorporating new assets and optimising our industrial base, all of which means that our company is stronger than when we initiated our MORE TO BE plan. We have undertaken a transformation that has left the Group's future in a unique position without turning our back on a solid balance sheet or increased remuneration for our shareholders".

For more information, you can find the Results Report here

® Viscofan Group