JOSÉ ANTONIO CANALES
CEO
This year has been a one of special significance. We have returned to the path of growth, particularly in the second half of the year, and we have done so with sufficient commercial and operational discipline to recover part of the margins we lost in the years of high cost inflation while protecting, if not improving, the market share in our main casing families. All this in a year that has not been easy, whether due to the competitive environment or the operational challenges that have led us to make adjustments to continue improving our competitiveness.
We have attained historic economic results: growth in volumes has been accompanied by increases of 6% in EBITDA and 11% in net profit, with operating margins that are close to the medium-term profitability objectives set out in our Beyond25 strategic plan.
A company that has improved not only in its economic results, but also in its competitive, operational and sustainability positioning.
Our commercial proposition and competitive positioning improved this year with the opening of the production plant in Thailand. This plant is our first in the region, with the capacity to carry out the finishing phase of cellulose and collagen casings and it has, from the start, the most advanced digital solutions. With Thailand we offer an unparalleled geographical positioning in the entire industry. Not only will we boost our service and growth in Southeast Asia, but we will expand our own industrial and commercial presence to 21 countries on four continents from which we serve customers in more than 100 countries around the world.
In the field of New Business, I would like to highlight the acquisition of Brasfibra and Master Couros in Brazil. A company that offers a range of collagen-derived products that offer very attractive solutions with significant growth potential.
This 2024 was also a year in which we sharpened our focus on our own organisation. As investment needs have diminished, we have allocated resources to operational and efficiency improvements, which have positioned the plants with great production potential. Here, I would like to highlight the results of the plants in the United States following the technological renovation of recent years. It will allow us to service our American customers from their own country at a competitive cost.
I cannot fail to highlight the progress we have made insustainability, where we are pursuing a consistent path in line with our commitment as signatories of the United Nations Global Compact. In particular, quite significant progress in decarbonisation, efficient use of resources and improvement of the social pillar is being made. This is happening not only in our own operations, but we are also being stricter in our demands on the value chain. In this regard, noteworthy is the transformation of our largest production plant in Cáseda (Spain) to a more diversified and decarbonised energy model, which includes the use of biomass, renewable electricity and even green hydrogen when available as an energy source.
For 2025, the final year of our Beyond25 strategic plan, the priorities are clear: lead growth in the market, especially the transition from animal to collagen casings; make a qualitative and quantitative leap in New Business; and maintain the spirit of continuous improvement, efficiency and profitability, with the aim of reaching new all-time highs in revenue, EBITDA and net profit.
There is no better company than Viscofan to successfully tackle these challenges. These are the achievements of an exceptional team, with more than five thousand people with whom I share the enthusiasm and commitment to transform an industry that is the basis of the well-being and nutrition of millions of people and that is ready to pursue new goals with daring and total confidence in our potential.
Thank you very much for your support and trust.