Borges contracts its turnover by 11% in 2020, up to 613 million euros

The company is preparing for its 125th anniversary this 2021 with the inauguration of the Casa Borges Mas de Colom.

Borges contracts its turnover by 11% in 2020, up to 613 million euros

Borges closed 2020 with a turnover of 613 million euros, which means a reduction of 11.1% compared to the previous year, due to the reduction in prices of the products sold by the group, according to a statement.

After a second semester “very complicated by the effects of Covid-19”, the company closed the year with a profit of 23.7 million euros; while the result before taxes and interest (EIIB) was 29.4 million and the gross operating result (ebitda), 37.5 million euros.

International sales represented 71% of Borges’ income, after having sold 307,000 tons of products, with olive oil leading with 41% of sales, followed by nuts, with 29%, and oils of seed, with 15%.

These results have allowed the company to reduce its debt by up to 90 million euros and allocate part of the profit to the reactivation of the hospitality sector, with 10.5 million euros.

What’s more, Borges has invested 2.5 million euros in job creation and measures to protect workers against the pandemic, 10 million euros in sustainability and 2.5 million in food safety and R&D.

The company will celebrate 125 years of history in 2021 and to celebrate the event, will inaugurate the Casa Borges, which in its first phase has meant an investment of 2.5 million euros to rehabilitate the Mas de Colom building, in addition to adapting the farm to grow pistachios, almonds, olives and walnuts.