On November 22, the sales of Torrons Vicens in the year reached 52 million euros, the company's record figure corresponding to a whole year so far, that of 2019. After the sharp drop in 2020 and the recovery of the year In the past, the nougat manufacturer controlled by the brothers Ángel and Eva Velasco Herrero –sole owners after the death of their father two months ago– has put the direct. If nothing goes wrong in the coming weeks, the firm will close 2022 with revenues of 65 million, 25% more than before the pandemic, and a gross operating profit (ebitda) of about 12 million.
Part of this advance is due to the 7% increase in prices since last October to somewhat protect margins from the brutal rise in raw materials and other inputs. But the rest is due to the advance of consumption, diversification and commercial expansion. "Ten years ago, we bet on verticality and now we are manufacturers and merchants at the same time -explains Ángel Velasco, president of the company- without this entailing any problem with our clients".
Torrons Vicens' income comes equally from its 44 own stores and distribution, including sales from abroad. Exports, with four of its own establishments in Mexico and three in France, as well as sales with distributors all over the world, contribute around 12% of the turnover.
Velasco affirms that consumption continues to pull strongly and that it has not suffered, at least for now, due to the lower disposable income of families due to inflation. “We haven't noticed it and instead we're worried about how hard it is for us to find people to work in the factory or in the shops on weekends,” he adds.
Despite its centuries-old history, with origins in the 18th century, the owners of Torrons Vicens have governed the destinies of the company since the year 2000, when the then small manufacturer from Agramunt (Lleida) had just 8 workers and had a turnover of half a million euros. . Without external partners, reinvesting the profits and step by step, the company has risen to the leadership of the sector in Spain.
"We have managed to seasonally adjust sales, so that half of them occur between September and December and the other half in the remaining six months, when 75% of sales are from foreign buyers," concludes Velasco. The manager believes that both in Spain, where he plans four openings for 2023, and abroad, he has room for growth.