Henkell rearranges the accounts of Freixenet and lowers the profit of 2018 from eight million to one

The German group, Henkell, owner of Freixenet, has corrected the accounts of the year 2018 – closed in April 2018 – of the Catalan cavist to reduce the profit of 8.4 million euros to 1.07 million, as reported by & # 39; Expansion & # 39 ;.

According to the updated accounts, Freixenet 2017 invoiced 542 million euros, 1.3% more than the year before. With regard to the individual company of Freixenet, and not the group as a whole, Henkell also revised the accounts to change the initial profit of 6.6 million euros, which is a loss of 3.6 million. The German multinational took control of the cavist in July 2018, that is, with 2018 accounts already closed.

According to the same company, the reduction of the group's profit is due to the increase in the price of the grape, which had to reduce the margin by 3.6%. However, Freixenet halted the impact of this increase in raw material prices with a reduction in personnel costs and the reduction of other costs.

Freixenet achieved 80% of sales in foreign markets, especially in countries of the European Union. In particular, the European market contributed 281 million, while in Spain it invoiced 110 million, a little 0.8% more than in the previous year.

In April 2018, the company had a short-term debt of 299 million euros, which has now been repaid. In addition, there were 43 million euros in the long term. Just before the sale to Henkell, the company paid out a dividend of 1.1 million euros that was charged to the reserves.