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The coronavirus boosted the Valencian group's winnings

Fontestad Citrus increased its turnover by 31% in 2020

Coronavirus did not harm Valencian Fontestad Citrus in 2020
Fontestad Citrus, a company within the Valencian orange, real estate, and services group controlled by the Fontestad family, managed to increase its turnover in the fiscal year 2020 (which ends on August 31) by 31% to a total of € 151.3 million. This significant revenue growth has also increased its operating net profit to €3.83 million, i.e. almost four times higher than in the previous year.

According to the company's annual report, last year's increase in sales was related to a significant increase in citrus demand in Spain and in the rest of Europe. The majority of the group's turnover is generated abroad, mainly in the European Union.

The company expects that the demand for citrus will stabilize in the 2020/2021 financial year and that it will be similar to that of previous years.

Fontestad S.A. has a subsidiary in France and also controls Fontestad Energy, Mayoristas de Cítricos Madrid, the real estate companies Pismo and Carmel and the citrus growing companies Balcó de Llevant and Vila Res. The group also has a stake in Zumos Valencianos del Mediterráneo (Zuvamesa), a juice processing company owned by other companies in the sector and located in the Parc Sagunt business park in the Valencian city of Sagunto.

Source: levante-emv.com 


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