Spain-based food group Ebro Foods described 2013 as «very positive» for the business even as its profits came in lower year-on-year.
Ebro booked annual net profit from continuing operations of EUR 141.5m (US$ 193.2m), down 12% on the year. The company’s 2012 profits were boosted by the proceeds from the sale of rice brand Nomen.
However, looking back on 2013, Ebro said: «Although the consolidated results have been dented by all the external factors that have hampered the rice division, the overall balance and evolution of Ebro during 2013 have been very positive, since in a sector increasingly dominated by private label, its brands have hung on to their leading positions through intense work in innovation, commercial and marketing aspects». Sales from Ebro’s pasta business were down, although Ebitda was up.
Ebro is selling its German pasta business Birkel.