Iberchem Group announced the financial results for the full year ended December 31, 2019. Despite being amid the aftermath of the raw material crisis that shook the F&F industry in 2018, the Spanish group closed the year outperforming the initial objectives set out in its annual budget.
The company reported net revenues of €174 million, representing a net increase of 19%. Throughout the year, the Group successfully registered strong top-line growth and maintained a positive business momentum. Augmenting its value in all of its geographic segments and categories, it increased its profitability throughout the year.
The Iberchem Group increased again this year its CapEx programme: last October, it completed the construction of its new R&D centre at its head office, adding over 3,000 m2 of facilities dedicated exclusively to fragrance technologies. The Group also fully revamped the production plant of its flavour unit in Spain, expecting to increase the flavour offerings of the company by almost 40%.
