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Borges delivers record net profits of €15M during the 2017/18 financial period

Borges International Group made sales worth €820 million, a 10% improvement on last year, with a total volume of 369,000 tons.

Net profit for the year was €15 million (1.7% higher than last year).

Borges International Group will invest €67 million in efficiency, competitiveness and environmental sustainability between 2018 and 2022.

The Group has taken on 134 new employees in the last three years, and now has a 1,154-strong workforce.

Borges International Group (BIG) has ended the financial year with net profits of €15 M, beating the record it set last year by 1.7%. The group has multiplied its profit sevenfold in the last twelve years.

Turnover has hit a historic high at €820 million, 10% more than last year. The Group has sold a total of 369,000 tons, 6% more than the last financial period with an adjusted EBITDA of €33 million.

Borges is persisting with its internationalisation strategy, having boosted sales in international markets by 3.2% to achieve a turnover of €555 million, accounting for 67.7% of all sales. It has achieved this high percentage thanks to product sales in 116 countries through offices and subsidiaries in Spain, the United States, France, Italy, Russia, Brazil, India, China and, most recently, Singapore.

By volume, Borges has sold a total of 346 million packaged units, of which 136 million (39%) are olive oils, 74 million (21%) nuts and dried fruits, 43 million (12%) olives, 38 million vinegars, 22 million seed oils, 15 million pickles, 8 million pasta and sauces and 10 million other products.

Borges International Group, with a history spanning more than 122 years, has 1,154 employees around the world, having added 134 new jobs in the last three years. It operates eleven industrial plants in five countries and has 15 sales offices in ten countries.

Commitment to social responsibility

Despite the growth in raw oil imports from Eastern Europe, the Group is still betting on local production and is committed to social responsibility, guaranteeing the traceability of its seed oils.

That’s why BIG, though its oil subsidiary Borges Agricultural & Industrial Edible Oils (BAIEO), has started executing its master plan, with an investment of €23.1 million for the period between June 2018 and May 2022, the purpose of which is to boost efficiency, competitiveness and sustainability.

The bulk of the investment, €10 million, will be spent on building a new seed oil extraction plant. The new machinery will increase the plant’s production capacity by up to 30%, cutting costs and improving output from the extraction process as well as the ratio of oil obtained from the seed oil extraction. It will also tighten up the security of the entire process and improve the quality of operators’ working conditions by incorporating the technology required to make progress with its energy efficiency improvement targets. This latter improvement will mitigate the environmental impact of its activities by reducing volatile organic compound (VOC) emissions, consuming less steam, electricity and water, the necessary resources for oil extraction.

Sustainable agriculture

In the meantime, BIG is still firmly committed to the farming industry with its nut affiliate, Borges Agricultural & Industrial Nuts (BAIN), which manages 2,401.5 hectares. Of these, 320 are in California, 941.9 in southern Portugal and 1,139.6 in Spain, mainly in the Autonomous Regions of Extremadura and Andalusia.

BAIN’s business project, in which it foresees investing €32 million in the next four years, is clearly focused on sustainability. The new BAIN plantations are governed by principles of sustainable farming. After becoming a member of the EsAgua platform, the purpose of which is to make Spanish companies leaders in terms of sustainability, BAIN has obtained GLOBAL GAP (Good Agricultural Practices) certification, an international standard certifying good agricultural practices and sustainable farming. In addition, the company has allocated 96.7 hectares to environmental conservation and biodiversity.

Products with high-quality natural ingredients

Finally, in terms of product, Borges International Group is continuing to emphasise high quality and health, offering consumers products that enable them to enjoy the Mediterranean lifestyle as a global cultural concept that defines food as a source of well-being and pleasure.

On these lines, it has launched the Eco Natura range, a selection of organic products made with natural ingredients that comply with the Nutrition, Physical Activity and Prevention of Obesity (NPAO) strategy defined in policies backed by international health bodies like the World Health Organisation. These products include a range of plant-based drinks made with walnuts, almonds and hazelnuts, all using selected Borges nuts and other high-quality ingredients.