The Puratos Group has delivered a strong set of final results for 2011, with net sales up 11% to €1.21bn (£969.6m). Ebitda stood at €108.3m (£86.64m), up 4%.
The Brussels-based firm, which offers products and application expertise for the bakery, patisserie and chocolate sectors, said it had achieved growth “fully in line with its long-term strategy”. “This is further confirmed by encouraging 2012 early-year figures,” it continued.
The firm said the growth in sales had resulted from volume growth, price/product mix effect, and the contributions from acquisitions in Latvia and Brazil.
The firm also said it was set to spend a record amount of capital expenditure – close to €80m (£64.5m) – as it continues its long-term growth plan.
Upcoming projects include the construction of a new research and development centre in Groot-Bijgaarden, Belgium, the upgrade of its manufacturing facilities in Pennsauken, New Jersey, USA, and the completion and start-up of a greenfield manufacturing plant in Guangzhou, China, said the firm.
Daniel Malcorps, chief executive officer of the Puratos Group, said: “This success is the result of our continued efforts to innovate our product offering alongside our vision of and clear focus on realising our growth ambitions.
“Of course, over the last year, we have experienced the pressure of the crisis in the eurozone and the uncertainty of the financial markets, in particular with volatility in raw material prices. Greece remains a big concern, as does Spain, although we hold our position in both markets. In the end, we are very pleased to be able to continue our growth – in line with the group’s long-term strategy.”