The Ghent food company Vandemoortele, saw its revenue figures settle at 1.269 billion euros in 2014 in comparison to 1.278 billion the previous year, they announced on Wednesday. The REBIT (Recurring Earnings Before Interests and Taxes) of the group reached 66 billion euros in 2014, an increase of 46.67% on 2013, while the REBITDA (Recurring Earnings Before Interest Taxes, Depreciation and Amortization) reached 110 billion euros, a rise of 22.22%.
“Thanks to a wider spectrum of clients and products, and to cost control with a radical streamlining, the Bakery Products branch improved its REBITDA result and margin by far more than anticipated. The Lipids branch managed to repeat its good results of 2013 whilst generating a valuable cash flow benefitting the rest of the group,” comments the Vandemoortele group in a press release.
The company, which has just bought Italian company LAG, makers of frozen bread, hopes to “further improve its profitability whilst raising both volume and revenue” in coming months.
Vandemoortele currently employs 4,700 people in 12 European countries.