Salov – among the world’s leading players in the olive oil sector with historical brands such as Sagra and Filippo Berio – has approved its consolidated financial statements with further double-digit growth in consolidated net sales to 376,769,000 euros (+12.27 percent year-on-year). Volume sales amounted to 120 million liters, essentially equal to those recorded in 2020.
Net income stands at 10,441,000 euros and Ebitda at 19,487,000 euros. In contrast to 2020, panic sales peaks were not repeated in 2021, while the cost of raw materials rose again.
THE GROWTH PATH
The positive performance is evident when comparing 2021 with the closest year unaffected by the pandemic, namely 2019. From here, double-digit increases emerge on all indicators, from sales volumes (+31%), to turnover +37%, to Ebitda (+33%).
THE SUCCESS IN FOREIGN MARKETS
In 2021 sales, penetration, and market share increased significantly in most of the 75 countries where the Salov Group is present. In Canada, sales grew by +22% year-on-year (source: Nielsen Canada – the full year 2021). In Brazil, Salov took the lead among Italian oil brands, with distribution growth that made Filippo Berio the fifth most distributed brand in the country. All this has resulted in a +25% increase in sales volumes.
“We can be absolutely satisfied with the results Salov achieved in 2021, which confirm that the management strategy is paying off. We have maintained the sales volumes of a completely exceptional year like 2020, which was characterized by the purchasing rush, and even increased turnover,” CEO Fabio Maccari says.