Sovena group consolidates its growth strategy in 2009
13.05.2010
Currently the Group is the second largest olive oil company in the world, selling 180.000 tons.
Currently the Group is the second largest olive oil company in the world, selling 180.000 tons.
Sovena is responsible for an ambitious project of olive groves, enabling the Group to strengthen its presence in the production chain.
Sovena Group, a leading global player in the olive oil sector, had an EBITDA of around EUR 41 million in 2009, improving the previous year's figures (EUR 38.5 million). This Portuguese group’s performance reflects the strength and success of its strategies implemented in Portugal as well as the other countries where it operates.
The group's turnover reached EUR 767 million.
António Simões, CEO of Sovena: "Despite the difficulties of 2009, Sovena achieved a very positive result thanks to the internationalization strategy adopted and the innovation that allowed us to respond to new consumer habits as well as our long established partnerships. Our ambition is to consolidate our position in 2010, bringing us closer to our main objective: to bring the consumption of olive oil to every country in the world, enabling consumers to have an healthier and tasty diet.
Sovena, owned by Nutrinveste Group, is currently the second largest olive oil company in the world, with a volume of more than 180.000 tons.
Portugal - Oliveira da Serra reaches leadership in 2009
Portugal is currently worth about 20 percent of the group's turnover, the remaining 80 percent scattered in countries as Spain, the United States, Brazil and Angola.
In Portugal, a highly competitive and mature market, Sovena clearly strengthened its position through the launch of the new Pop-up cap, that allowed Oliveira da Serra to reach leadership with 20.3% of market share in home panel.
This year, Sovena began the construction of a mill designed by architect Bak Gordon, and signed the purchase of Projecto Terra of SOS Group – as a result, Sovena now owns 57 Portuguese farmyards and a total of aproximately 10.000 ha of olive groves.
Sovena integrates the entire value chain of the olive oil production - agriculture, processing and packaging - and created the largest project under olive trees in the world; that will allow the group to increase its self-sufficiency and strengthen the commitment to national agriculture.
Growth strategy through foreign markets
Currently, foreign markets are worth 80 percent of Sovena business. The Portuguese multinational company is present in over 70 countries. Spain, United States, Brazil and Tunisia are, in this order, the main markets of Sovena.
Present in the Spanish market since 2001, Sovena became the leading company in Spain (by the volume of oil packed), and consolidated the position of first exporter of olive oil for the 4th consecutive year. In Spain, Sovena bottles all Hacendado oils, the retail brand of Mercadona (retail leader in Spain), and also others brands such as Soleada, Fontasol and Fontoliva.
Present in Brazil for about seven years through the brand Andorinha, Sovena consolidated its position of 2nd player in 2009. Brazil is a very important market due to its growth potential (more than 130 million consumers) and new eating habits of Brazilian consumers.
The U.S. market has been and will be a strategic market for the growth of Sovena, due to the fact that it is the non-producing country with the highest consumption of olive oil. In 2009, Sovena made a revenue of nearly $200 million in that country. A new factory was opened in September 2008, that supplies mainly the U.S. market (Sovena packs oil for key American customers of the retail and foodservice). However, since the aim is to continue growing in that market, Sovena launched a new brand of olive oil - Olivari - created especially for the American consumer.
Sovena Group is nowadays the 2nd largest olive oil player worldwide
Sovena Group is 100% owned by Nutrinveste Group
Currently, Sovena Group's operations are scattered in four markets: the crushing of oilseeds and their refining, refining and packaging oils, preparation and packaging of table olives, and more recently the olive groves. With this latest investment, Sovena Group ensures a better grip on the value chain upstream and easier access to the raw material.
Sovena Group is the 2nd olive oil player in the world, and operated more than 180.000 tons of olive oil in 2009, and more than 270.000 tons of seed oils.
Present in 7 countries - Portugal, Spain, USA, Brazil, Angola, Tunisia and Morocco - and with exports to over 70 countries, the Group employs more than 1.100 employees around the world.
Its seven plants located in Portugal, Spain, USA and Tunisia, pack main brands in markets where the Group is present. For the Portuguese market, Oliveira da Serra olive oil, or Fula seed oil, are some of the brands marketed. For Brazil and the “Saudade market", Sovena operates under the brand Andorinha.
In the U.S., Sovena USA has partnerships with retail and foodservice companies, leaders in the country, selling brands like Olivari, Gem, Bellezza, Puglia, Castello, among other brands.
In Spain, Sovena is the supplier of oils for Mercadona (with the brand Hacendado) for categories of seed oils and olive oils, and also produces brands as Fontasol and Fontoliva.
