The Iberchem Group, which comprises separate natural fragrance and a food flavours divisions, reported that it grew like-for-like sales by 16% in 2018 to €146 million, while simultaneously boosting its EBITDA generation significantly.
Company executives said that the strong results were delivered despite the fact that during 2018 the business has encountered a number of challenges, including disruption of a number of key raw materials.
The company is noted for its natural fragrances, an area of the business that has developed into an increasingly international market in recent years.
To keep up with expanded production, the company announced at the beginning of 2018 that it would be building a 3,000 square metre research and development facility adjoining its Murcia headquarters, which is currently under construction.
And in keeping with the expansion of international business, the company also announced the acquisition of South African food flavours and colouring business Versachem during the course of 2018.
To round off a busy year, the company also unveiled two new facilities in the Asia Pacific region, a production facility in Bangkok, Thailand, and a creative centre in Mumbai, India.
Goals for 2018 were achieved
Looking ahead, company executives believe the company is now in strong position to build on its international expansion and continue to grow the business throughout 2019.
“Both our divisions have made notable progress in achieving the milestones of our current expansion plan,” said Ramón Fernández, CEO of Iberchem Group.
“Although these actions were time and effort consuming, and despite hikes in raw materials, the Group successfully delivered strong top-line growth and maintained a positive business momentum. Once more, the Group confirmed its well-known agility and capacity to swiftly adapt to unforeseen events, to the advantage of our customers.”