- For the fifth consecutive year, the Group recorded record turnover and an increase of over 30% in the last five years
- Agrosevilla increased its market share to 14.2%, despite a fall of 14% in total volume of tons exported by the Spanish table olive sector as a whole
- The group exports to over 70 countries and, in 2023, 90% of sales were to international markets, totalling 151 million euros
Agrosevilla, a global leader in production, packaging and marketing of table olives, has presented its financial results for the year 2023, highlighting an important increase in turnover despite the commercial challenges facing the table olive sector.
Agrosevilla’s turnover stands at around 200 million euros, representing an increase of 4% on 2022. What’s more, for the fifth consecutive year, the Group recorded record turnover and an increase of over 30% in the last five years.
The growth achieved in 2023 is due, among other factors, primarily to the group’s established international presence, with exports to over 70 countries. International markets account for over 90% of sales worth 151 million euros.
“Over the course of the past year, we have tackled the challenges facing the market to avoid a significant impact on our operations. Once again, we suffered from a very low harvest due to persistent drought, driving us to improve our operating practices. This came on top of geo-political and trade conflicts such as the tariffs imposed by the United States government, which remain an obstacle to our commercial activity,” explained Gabriel Cabello, chairman of Agrosevilla. Yet nonetheless we have managed to maintain the commitment to bringing the entire production of the co-operatives to market at the best possible price while reducing costs for our members,” he added.
2023 was a particularly tough year for the Spanish olive export sector, with a fall of 14% in total volume in tons, due primarily to the global inflationary context and the lack of raw materials due to a low harvest. However, Agrosevilla outperformed the sector, increasing its market share of Spanish exports to 14.2%, an increase of 4% on the previous year. Agrosevilla’s own brands accounted for 36% of the value of its exports.
Agrosevilla operates all across the world, with its leading markets Italy, Saudi Arabia, the United States, Spain, South Korea, the United Kingdom, Canada and Russia. In terms of the domestic market, Spain, together with Portugal, represented 11% of group sales, up 22% since 2022.
According to Julio Roda, CEO of Agrosevilla, “despite the global climate, Agrosevilla has been able to manage the situation and achieved an increase in turnover of more than 5% based primarily on two areas: Eastern Europe and the Central-Northern European Union. Special mention should also be made of the stiff competition faced by the company in almost all markets by a new player, in the form of Egypt, which is taking advantage of the low Spanish harvests of recent years, and the ongoing situation with antidumping and countervailing tariffs in the United States, as well as the high price of our raw material.”