Most listed companies dedicated to the food sector in Spain have made profits in 2022, despite inflationary pressure.

Next, a review of the results of the companies in the sector listed on the Madrid Stock Exchange, according to the latest data communicated to the National Securities Market Commission.

AMREST

The Amrest restaurant group, which operates brands such as La Tagliatella, Bacoa, Blue Frog and Sushi Shop, in addition to Burger King, Pizza Hut and Starbucks (NASDAQ:SBUX) as a franchised master, it obtained a net profit of 6.7 million euros in 2022, 81% less than the previous year.

The company, present in 23 countries and immersed in a sale process to divest its KFC business in Russia, increased its turnover by 26%, to 2,422 million euros.

BAIN

Borges Agricultural (BME:BAINS) & Industrial Nuts (BAIN), the nut subsidiary of the Borges group, lost 341,000 euros in the first half of the 2022-2023 fiscal year (until November 30), compared to the profit of 3.4 million in the same period of the previous year.

The company, which invoiced 4% more (74.3 million euros in total), has justified the losses by the rise in industrial and transport costs, and the fall in the price of the main raw materials it produces, such as walnuts, almonds and pistachios.

RIOJAN WINERIES

The profits of the company Bodegas Riojanas (BME:BRIO) rose by almost 32% annually in 2022 to €913,000, and their turnover was around €18.2 million, slightly higher than in 2021.

According to Bodegas Riojanas, the war in Ukraine has multiplied inflationary tensions, with the increase in energy costs that have been transferred to the rest of the group’s inputs and have conditioned demand in the main international markets.

COCA-COLA EUROPACIFIC PARTNERS (CCEP)

Coca-Cola Bottler (NYSE:KO), which operates in 29 countries, earned €1.521 billion last year, up 54%, the largest increase among listed companies in the sector.

Its revenues grew by 26%, to 17,320 million euros, of which 13,529 million corresponded to the business in Europe, with an increase of 17%.

The multinational has attributed the results to factors such as its pricing and promotion strategy, its varied packaging offer and the recovery of consumption both inside and outside the home, also motivated by the return of travel after the pandemic.

DEOLEO

The Deoleo oil mill (BME:OIL), owner of brands such as Carbonell, Koipe, Hojiblanca or Bertolli, obtained a profit of 6.2 million euros in 2022, a positive result for the third consecutive year but 90% lower than in 2021.

Sales amounted to 827 million euros (+18%), according to Deoleo, which had to deal with the rise in the price of olive oil at origin, the fall in consumption, the increase in energy prices, tensions in supply and the rise in interest rates.

DAY (BME:DIDA)

The DIA distribution group closed the year with losses of 124 million euros, 52% less in annual rate, while its sales grew by 5.7% in a scenario of inflation.

The chain explained that its business improved in all its variables and highlighted the effort invested in reforming and expanding its network of proximity stores, a process that it expects to conclude in 2023.

EBRO FOODS

The pasta and rice manufacturer Ebro Foods (BME:EBRO), owner of brands such as SOS, Brillante or Garofalo, earned 122 million euros in 2022, which is 49% less than in the previous year, in the midst of a divestment process.

The turnover stood at 2,967.6 million euros, 22% more, according to the company, which had to face the increase in costs with more savings and efficiency measures.

PESCANOVA S.A.

The company Pescanova (BME:PVA) S.A, also known as “la vieja Pescanova”, lost 6.8 million euros during its last annual year (between December 2021 and November 2022), compared to 26,000 euros of profits in the same previous period.

This inactive company received revenues of 2.78 million euros (+47.7% per year), largely due to the support it must receive from its “sister” Nueva Pescanova.

VISCOFAN

The Viscofan food casings group (BME:VIS) made a profit of €139.4 million in 2022, 4.8% more than in 2021, and its turnover grew by 24% to €1,201 million.

These “historical highs” have marked the performance of the company, which has had to meet greater demand and energy diversification in the face of the crisis.