Press Releases

RAR GROUP CONSOLIDATES ITS GROWTH TRAJECTORY

The RAR Group's consolidated turnover amounted to 996 million euros in 2022, up 28% on the previous year, with EBITDA reaching 72 million euros, up 3% from 2021, and net profit reaching 16.4 million euros, according to the 2022 Annual Report published today (RAR Group Annual Report), figures that confirm the growth recorded in recent years, despite the adverse international environment.

According to the Chairman of the RAR Group, Nuno Macedo Silva, "war at the gates of the European Union and the subsequent rise in inflation leaves no business unaffected". Although “exposure to the Russian market is very marginal to the activity of the Group's various businesses, price rises in energy and raw materials have impacted almost everyone”, he added.
Even so, despite the volatility predicted for this year, Nuno Macedo Silva is optimistic with regard to the development of RAR's business. On the other hand, he stressed that a large part of the Group's debt is contracted at a fixed rate, which "partially mitigates the impact of the sharp rise in interest rates".

It all started with the sugar business 61 years ago, an origin that lives on in the acronym RAR (Refinarias de Açúcar Reunidas / United Sugar Refineries). Not only does the original company remain a viable part of operations sixty years later, but it also gave rise to an economical group that has expanded its activities far beyond the food industry, having diversified into the packaging, consumer goods, real estate and services sectors. Including its presence, additional to Portugal, in eight other countries on three continents, which makes the RAR Group a reference on the national scene.

THE RAR GROUP
Turnover 
2022 - 995 832 001
2021 - 780 492 893

Operating Cash Flow (EBITDA)
2022 - 72 084 060
2021 - 70 197 810

Consolidated Profit for the Year
2022 - 16 493 189
2021 - 16 211 655

RAR GROUP COMPANIES IN 2022
Colep Consumer Products Portugal, S.A.: Focused on contract manufacturing and product innovation in the "Cosmetics" and "Personal Care" categories, Colep Consumer Products Portugal, S.A. increased turnover from 221.6 million euros in 2021 to 283.4 million euros in 2022, due to an increase in activity and the reflection in prices of the rise in raw materials. Effective management of operating costs has allowed EBITBA to rise from 21.9 million euros in 2021 to 27.3 million euros in 2022. 
Strong presence in Europe, Brazil and North America and the diversification achieved through "ACOA - The Alliance of Colep and One Asia" should lead Colep Consumer Products to sustained growth in the coming years, both in turnover and results.
It currently has 1,188 employees.

Colep Packaging Portugal, S.A.: Is one of the most important European players in the packaging industry.
A strong first half with growth in some segments, such as aerosols and packaging for paints and varnishes, as well as entry into the aluminium aerosol market through the acquisition of 40% of the Spanish company ALM in 2021, were important factors in Colep Packaging's financial results. Thus, sales grew from 119.2 million euros in 2021 to 148.8 million euros in 2022, essentially as a result of the effect of the increase in the price of raw materials. EBITDA was 38.1 million euros, which, because it includes some extraordinary and non-recurring components, is not comparable with the 26.9 million euros of 2021. 
Colep Packaging is determined to continue its path of expansion and consolidation of operations, reinforcing its commitment to service, to its relationship with partners and to the search for solutions that make everyone's life easier - customers, consumers, partners and employees. 
It currently has 668 employees.

Vitacress, Ltd: Operates in the fresh produce sector, and its main focus is to supply the ready to eat salad and fresh herbs markets in Portugal, Germany, Belgium, Spain, the Netherlands and the United Kingdom. 
It reported sales of 182.6 million euros (£155.7 m) in 2022, where they had been 172.1 million euros (£147.9 m) the previous year, and recorded EBITDA of 1.9 million euros, down from 17.5 million euros in 2021. The one-off costs required to maintain the high level of service and quality in the salad business and to mitigate the effects of delays in the construction and commissioning of the new facilities, due to Covid-19 constraints, explain this change in the profitability of the business. As the level of efficiency increases over 2023, the business is expected to return to its normal level of profitability.
It currently has 1,652 employees. 

RAR - Refinarias de Açúcar Reunidas, S.A.: Since its foundation in 1962, it has been dedicated to sugar cane refining. The brutal increase in the cost of its production factors, namely the cost of energy and raw materials, made 2022 difficult. However, it showed a growth in sales, which reached 104.9 million euros, compared with 76.1 million euros in 2021, achieving an EBITDA of 1.9 million euros in 2022 (88.4 thousand euros in 2021). 
This improvement in results is based on continued commitment to implementing a model of operational excellence, with optimised processes and the strengthening of internal skills, essential conditions for the future sustainability of the business, even with the strong constraints to which a refiner is subject within the European Union.
It currently has 158 employees.

ACEMBEX - Comércio e Serviços, Lda.: Founded in 1970, as a result of an association between Tate & Lyle International (U.K.) and RAR, it has been 100% owned by the RAR Group since the 1980s. Currently, it is an international trading company focused on the provision of logistics and advisory services and positions itself as one of the largest national operators in cereals and other raw materials for the agrifood industry, having handled around 800 thousand tonnes in 2022. 
Last year, Acembex maintained a prominent position in its operating areas, being the major importer of cereals and by-products in Portugal with a share of 22% in a market of around 3.5 million tonnes. 
Thus, the company showed a growth in sales, which reached 269.2 million euros in 2022 (188.0 million euros in 2021), realising an EBITDA of 1.1 million euros (897 thousand euros in 2021). 
It currently has 14 employees.

RAR Imobiliária, S.A.: Founded in 1987 to manage the real estate assets of the RAR Group, it began its activity in real estate development in the 1990s, aimed at the high end of the housing market, with the development of enterprises and projects of reference in the sector. 
2022 was a very positive year for RAR Imobiliária, despite volatile construction costs and labour shortages. The company has ongoing projects in Porto, Algés and Vila do Conde. 
It showed a growth in sales, which reached 18.5 million euros in 2022 (10.2 million euros in 2021) and recorded an EBITDA of 3.8 million euros (3.4 million euros in 2021). 
It currently has 18 employees.

In a year marked by volatility, the RAR Group closed its accounts for 2022 on a sound basis with prospects of continuing positive business growth.