Hijos de Rivera, the manufacturer of Estrella galicia beers, had sales of 614 million euros in 2021. This is 27.4% more than last year. This was in a year when its profits after taxes were 94.9 million euros, which is 79.4% higher, and where investments were 66.8 millions euros, which is a 20% increase.
These data were provided by Ignacio Rivera (executive president of Hijos de Rivera Corporation), at a press conference. Rivera also noted that the gross operating result, Ebitda, was 174.4 million euros, an increase of 29 %.
After "a lot" of restructuring and a "much larger executive" corporation, he assured that the objective will now be to focus on a strategy plan valid through 2024. This includes 600 million euro investments in two factories in Brazil and one in Arteixo, A Coruna. Also, the new offices the company will have located in the Herculean.
It indicated that the Brazilian factory would be ready by 2023. The Arteixo one, however, has its closure set for 2024. These investments were accompanied by the digitization work that will make the company "more efficient" and allow you to "sell more".
Ignacio Rivera reiterated that the company is working towards reaching 1,000 million sales. He spoke out about sales and highlighted that 436 million liters more beer was sold than in 2021. This is an increase of 16.4%. To this, 189 million liters water were added. He acknowledged that this data was not as good as the 2019 198 million liters.
As challenges, it has placed differentiation and internationalization. He stated that they will continue to concentrate on the Latin American market but also other markets, and create new subsidiaries. Concerning the first, he stated that his "dream" is that 20% of their business quota will be created by it.
It has also established subsidiaries in the British market, Portugal and the Middle East, and plans to continue "exploring" the Middle East and Africa.
He has also stated that they will launch a new beer brand this year, and that new product categories will be developed for water marketing. He stated that they are doing amazing things.
He acknowledged that the current international situation is "complicated", which is affecting logistics as well as matters related to raw material. He is convinced they will resist, but he also explained that they aren't passing on the price rise for now. He added, "We will see how we deal with the last semester"