Hijos de Rivera increases turnover and profit in 2021

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The turnover of the company producing Estrella Galicia increased by 27.4% and the result, almost 80% the year after the confinement

The Hijos de Rivera company – the manufacturer of, among other things, Estrella Galicia beers – achieved a turnover of 610.4 million euros in 2021, 27.4% more than the year before. It did so in a year in which after-tax profits reached 94.9 million euros, 79.4% more, and in which investments amounted to 66.8 million euros, a 20% increase.

This data was provided at a press conference by the executive president of the Hijos de Rivera Corporation, Ignacio Rivera, who also highlighted that gross operating income (Ebitda) was EUR 174.4 million, plus 29%.

After a year of “much reorganization” and with a “much more executive” undertaking, he has assured that the objectives will now focus on a strategic plan valid until 2024, which includes investments of 600 million euros, earmarked for two new factories , one in Brazil and another in the Polígono de Morás, in Arteixo (A Coruña), as well as the new offices that the company will have, opposite the current facilities, in the Herculean city.

In the case of the factory in Brazil, it has indicated that it will be ready in 2023, while in the case of the one in Arteixo, it has posted its conclusion in 2024. To these investments, it has added work to advance digitization so that the business is “more efficient” and therefore you can “sell more”.

In that sense, and after highlighting the 2021 sales figure, Ignacio Rivera has insisted that the company is working towards the target of reaching 1,000 million. In terms of sales, he pointed to the 436 million liters of beer sold, 27.8% more, to which 189 million liters of water were added, an increase of 16.4%. In this case, he has admitted that the data is not “so good” compared to the 198 million liters of 2019.

It has placed differentiation and internationalization as challenges. In the latter case, it has stated that they will continue to focus on the Latin American market, but also others, and will create new subsidiaries. As for the former, he has assured that the “dream” is that it represents 20% of his business quota.

In addition to the planned subsidiaries in the UK market and in Portugal, it has added the objective of continuing to “explore” those of the Middle East and Africa.

On the other hand, he has put forward that they will launch a new beer brand this year, while in the case of water marketing, he has stated that they will develop new product categories. “We are working on great things,” he emphasized.

With regard to the current international context, he has admitted that it has been a “complicated” year, affecting the company in its logistics and also in matters related to raw materials. However, he is confident they will “resist” while explaining that they will not pass on the cost increase in prices for the time being. “We’re going to see how we approach the last semester of the year,” he added.

Source: La Verdad

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