CAPSA FOOD completes its 2015-2019 Strategic Plan generating more than 160 million euro to help provide sustainability to farmers
- The company grew for the fifth consecutive year, closing 2019 with a 23.12-million-euro profit.
- Its 2015-2019 Strategic Plan culminated in this period, generating more than 160 million euro, which includes CAPSA’s profits, the premiums on the purchase price of milk paid to livestock partners and royalties for the use of the brand paid to Central Lechera Asturiana SAT.
- CAPSA FOOD exceeds 7% growth in the milk, cream, butter and cheese markets.
- In the international market, 36.8% of the packaged liquid milk exported from Spain to markets outside of the EU is from CAPSA FOOD.
Granda, 29 May, 2020
The CAPSA FOOD (Corporación Alimentaria Peñasanta S.A.) Board of Directors formulated the annual accounts and presented the results for the 2019 financial year.
The dairy company grew in profit for the fifth consecutive year, closing 2019 with a historical profit of 23.12 million euro, 1.3% above the previous year, thanks to the positive evolution of its sales in the different markets in which its brands operate. In the milk market, the company grew 8% in sales compared to 2018, which is similar to the growth it experienced in the butter market. In creams, CAPSA FOOD grew 7% and 9% in the cheese market.
This evolution in sales is reflected in the Company’s market share in the Spanish market (Source: Nielsen), strengthening its leadership in the milk, cream and butter markets. Specifically, in the milk market, CAPSA FOOD closed 2019 with 17.9% market share and 19.8% share in the cream market. In butter, it consolidated market share at 24.2%.
In the hospitality market, the company increased sales by 7%, with increasingly visible products in this channel and presence in more than 30% of establishments. In the international market, CAPSA FOOD now exports 36.8% of the packaged liquid milk that is exported from Spain to markets outside the EU, compared to 20.3% in 2018 and 12.3% liquid cream (9% in 2018). The company´s sales volume in this market grew by about 60% compared to the previous year.
This year, the company’s net turnover dropped (720.8 million euro compared to 737.7 in 2018), as a result of the decrease in Innova Food Ingredients turnover due to the collapse of Fat Solids in the international markets (the weighted average price in 2019 was 4,344 euro/kg Fat Solids compared to 5,538 euro/kg Fat Solids in 2018). However, this negative impact was offset by improvements in operating efficiency, consolidating profit over the previous year in 2019.
In 2019, about 928 million litres of milk of 100% Spanish origin was collected. The 2015-2019 Strategic Plan was also completed this year, which enabled the company to continue to grow, reinforcing its leadership to fulfil its purpose of assuring the future for farming partners and offering natural products and services that improve peoples health and quality of life in a sustainable environment. The IFS, BRC, FSS 22,000, Livestock Guarantee, no artificials and Milk Grazing certifications were renewed.
In this period, the company generated more than 160 million euro, which includes CAPSA FOOD’s profits, the premiums paid to partner farmers in the purchase price of milk and the license to transfer the use of the brand that CAPSA FOOD pays annually to Central Lechera Asturiana SAT. In this Plan, diversification became very important and proof of this is in the actions carried out in 2019 in this area. The Central Lechera Asturiana Institute for Personalised Nutrition and its “39ytu” project were presented. The company also became part of San Antonio Biotics, with the aim of providing the latest-generation probiotics to the institute. As a result of the agreement signed with Cantabria Labs in 2018, NMCLA Diabet was also launched, a formula especially designed for diabetics in the pharmacy channel.
CAPSA VIDA (Investment Vehicle for the Development of Food for the future) was also created this year, a fund endowed with 5 million euro to take part in start-ups with projects in the field of health, sustainability and personalisation. One of the start-ups in which it expanded its participation in 2019 was RAW SUPERDRINK, the company’s first foray out of the dairy business. Also within CAPSA VIDA, and in within its firm commitment to environmental sustainability, the company became a shareholder of ENTOMO AGROINDUSTRIAL, as an example of a circular economy project. ASANA will also continue to be an organic cross-brand for the group.
Finally, and within this commitment to diversification, an agreement was signed at the end of the year with IMOMA (Asturias Institute of Oncological and Molecular Medicine), to carry out joint projects in the field of nutrition and health, in addition to activities related to research social promotion.
CAPSA FOOD (Central Lechera Asturiana, Larsa, ATO, 39ytu, Vega de Oro, Asana and Innova Food Ingredients) is the leading company in the Spanish dairy market with six production centres throughout Spain providing direct employment for more than 1,300 people and with international presence in more than 40 countries.
In 2017, it was recognised as the company with the best reputation in Spain according to the REPTRAK study by the Reputation Institute.
CAPSA FOOD is also the first Spanish food company to have the 500+ European Seal of Excellence awarded by the European Foundation for Quality Management (EFQM) and the Excellence in Management Club (CEG), which implies that it is a well-managed company and a “model to follow”; in Spain, a company that innovates in the market with new formats and new products with functional benefits and creates an excellent work environment for professionals’ development.
In its commitment to comprehensive sustainability, CAPSA FOOD works to “Assure the future for farming partners, offer natural products and solutions that improve people’s health and quality of life in a SUSTAINABLE ENVIRONMENT”, supporting the primary sector and the rural world, promoting health through nutrition and healthy life habits, protecting the natural environment and being the exemplary employer that it has been since its foundation.