Profand wants to take the definitive step to position itself among the elite of large fishing groups with a focus on frozen products. The Galician community, owned by patron Enrique García Chillón and in which Alba Financial Corporation participates, closed the 2021 gymnasium with a turnover of 801.6 million euros, a growth of 22% compared to 2020. the history of the company, which has almost doubled its sales in three years and aims to reach 1,000 million.
This is how they explain it to the company, where they have two springs to achieve this. The first this year is the business of Kelafonia Fisheries, a Greek company acquired in March that will add an additional $50 million in revenue. This, combined with the organic growth after the incorporation of the companies acquired in recent years, will allow the community to compete in the Nueva Pescanova relationship, the only large fishing community specializing in frozen products, exceeding 1,000 million.
The consolidated accounts of Lucasiñas, a company that consolidates the accounts of the entire Profand Order, show a total turnover of 804 million, a figure that includes the real estate activity of García Chillón. The fishing part has about fifty subsidiaries, managed by Profand Fishing Holding. The Alba Financial Corporation bought 23.7% for 100 million in 2021, valuing 100% at 422.
Documenting Lucasiñas’ mandate combines increasing sales with improving the distribution channel as well as growing the Hispanic-American market, a key axis after the acquisition of Seafreeze in 2019. The United States also invested in acquisition of fishing vessels. , two the following year.
Regarding the distribution channel, Profand is one of Mercadona’s main frozen fish suppliers. Their accounts show that 51% of their sales in 2021 went to a single customer, which is without being that dependence on supermarkets. A high percentage, although seven points lower than in 2020. Much of this relationship is due to the 2018 acquisition of Caladero, then 100% owned by Mercadona, with which Profand cemented its growth.
The rate of acquisition will stop for now. The company claims that after the aforementioned Kelafonia, which according to Lucasiñas’ accounts required the subscription of almost 18 million for 68.5% of the credit, no new acquisition is proposed, with the option to acquire the rest until 2027, they are very commercial-oriented,” Profand’s sources explain.
Without the kidnapping, what falls is the net profit, which disappeared by 13% to 19.3 million due to the impact of an update of financial derivatives, without which the profit would have been 23 million . Ebitda increases slightly to 74 million, although the company warns of the impact on margins that inflation and the disposal of assets in Ukraine are beginning to have.