Deoleo shareholders will address the re-election of Juan Arbide as proprietary director

June 2 () –

Deoleo shareholders will address this Wednesday at the general meeting, which will be held at the company’s offices in Rivas Vaciamadrid (Madrid), the re-election of Juan Arbide Estensoro, current director of CVC Capital Partners, as proprietary director of the firm in the ordinary general meeting of shareholders.

Specifically, the meeting will address the ratification of the appointment by co-option and re-election of Juan Arbide Estensoro as proprietary director, appointed by co-option on May 19, 2023, to fill the vacancy caused by the resignation of Theater Directorship Services Gama.

The agenda also includes voting on keeping the number of members of the board of directors of the manufacturer of Hojiblanca fixed at seven, as agreed at the general meeting of shareholders on October 29, 2020, as well as the examination and approval of the group’s annual and consolidated accounts.

At this meeting, the shareholders of the multinational olive oil company will discuss the re-election of EY as auditor of accounts, both of the company and of its consolidated group for the year 2024.

Deoleo recorded losses of 34 million euros in 2023, a year marked by the largest increase in the price of raw materials since records have been recorded in the sector and by very unfavorable forecasts, both in quantity and quality, for the next harvest.

The multinational explained that, in such a “challenging context”, it has prioritized the defense of the gross unit margin, managing to increase sales by 1% despite the gradual decline in volumes due to the inflationary context and high prices.

In this way, the manufacturer of Carbonell and Hojiblanca achieved a turnover of 837.6 million euros in 2023, which represents an increase of 1%, while thanks to the defense of the gross unit margin it recorded a gross operating result (Ebitda ) of 30 million euros, 30% less than in 2022.

The multinational recalled that 2023 was characterized by high inflation internationally, affecting all the countries in which the group is present and that it had a significant impact on the food sector and especially the olive oil sector, since oil was the food produced with the highest increase (+44.4%).