In a context complicated by the increased costs of raw materials and energy, the Group maintained its profitability thanks to more efficient and sustainable operations.
The Vuelca Fácil launch was among the Spanish canning group’s most significant milestones in 2021.
Madrid, June 28, 2022.- International food group Calvo achieved a turnover of 555.4 million euros and reached an EBITDA of 56.2 million in 2021.
Although total turnover decreased slightly (-4%) compared to 2020 as a result of the Brazilian real and its continuing depreciation trend in recent years (-8.3%), Grupo Calvo managed to maintain an EBITDA margin of more than 10%.
In a complex context marked by rising raw material and energy costs, especially in the last quarter, the Spanish group, a leader in canned fish and seafood products, leveraged the strength of its model and the improvements achieved in the efficiency of its operations and processes to control costs, increase its ability to generate recurring revenue and maintain business profitability.
In 2021, Grupo Calvo sold over 99,394 tons of finished product worldwide. Brazil remains its main market in terms of volume, followed by Spain and Italy. During the year the Group made its first product-marketing entry into Mexico.
Mané Calvo, Grupo Calvo’s CEO, highlighted the path of sustainable and profitable growth which the Group has maintained for years as the product of intensive industrial transformation efforts to make operations more flexible, efficient and sustainable, as well as the commitment to innovation. “Our industrial transformation plan, coupled with our commitment to sustainability, is enabling us, year after year, to significantly improve our operational efficiency. This, combined with our commitment to innovation in mature markets and the strong position of our brands in key markets, allows us to say that we are in a good position to continue to obtain positive results on a consistent and recurring basis,” he stated.
The year 2021 is precisely when Calvo launched one of its most important innovations in the last twenty years: Calvo Vuelca Fácil. Designed using proprietary technology enabling the use of less oil and lighter packaging, this new product represents a novel way to produce, package and consume tuna that is more efficient and sustainable. Calvo gradually introduced the new packaging in key tuna markets in Spain and Italy over the course of last year. The company, furthermore, anticipates offering Vuelca Fácil across its entire range of canned tuna products in the other markets in which it operates in the medium and long term.
Calvo’s Vuelca Fácil is considered the most innovative product in the FMCG sector according to Kantar’s “Innovation Radar 2021” study. This report includes the most outstanding successful innovations launched in the Spanish market over the last year. In addition, the company received the Innovation Award at the 14th edition of the National Marketing Awards held in June 2022.