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Viscofan BioEngineering
Viscofan Group releases 2020 January-December results
25/February/2021

Main highlights of the January-December 2020 results:

> Demand for casings has grown significantly in 2020. Within this context and due to the global pandemic it has been essential to ensure the supply of food to millions of homes around the world. 

> The Viscofan Group reached €912.2 million in revenue, up 7.4% on the previous year driven by the growth in volumes in all reporting areas.

> EBITDA totalled €234.4 million, up 16.7% year-on-year, reaching a new all-time high and improving by 2.0 p.p. the EBITDA margin to 25.7%.

> €122.5 million in Net Profit, 16.0% higher than the previous year.

> 2020 full year results are in line or above expected levels at the beginning of the year as a result of the growth in demand and the response of the human team to the challenge as exceptional as the one experienced in 2020.

> The strength of the operating results allowed us to reduce the net bank debt by 10.2% in December 2020 to stand at €38.2 million, compared to the €42.5 million in December 2019, and to finance a greater outflow of cash in the form of dividends during the year of €109.4 million, compared to €74.3 million in 2019.

> The Board of Directors has agreed to propose to the General Shareholders' Meeting a final dividend of €0.29 per share, making a total remuneration of €1.70 per share in 2020, an increase of 4.9% compared to the total remuneration for the previous year.

> The world continues to be immersed in the fight against the pandemic caused by COVID-19 and the restriction measures implemented continue to impede the movement of people and the undertaking of ambitious strategic projects. Subsequently, the MORE TO BE Strategic Plan has been extended until 2021, a year in which we expect growth in the main financial figures thanks to the continuity of the existing projects and the drive in others that strengthen the Group in light of the new economic cycle that will arise after the pandemic.

> José Domingo de Ampuero y Osma, Chairman of the Viscofan Group: "The casings market has witnessed exceptional growth during a year in which the appearance of COVID-19 has represented an unprecedented challenge for the industry, to which it has had to respond diligently to ensure the supply of basic foodstuffs to millions of homes around the world. This responsibility has been accompanied by the commitment to fight the spread of the virus and to safeguard the safety and health of our employees and their families. But rather than praise our achievements, I wish to express my deepest sympathies for the human losses this year and in particular to acknowledge the efforts of this extraordinary human team for their incredible commitment, sense of duty and responsibility".

You can read all results information on the folowing LINK


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