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Deoleo The Olive Oil Company . 2021 HALF YEAR RESULTS • Deoleo sales rise 8 % , like - for - like net profit € 14M Strong performances by all business units boosted volume growth by 3 % in the first half of 2021 in comparison with extraordinary situation in 2020 , when the pandemic inflicted acute market restrictions Market shares continued to increase in Germany , where market share rose 1.4 percentage points compared to the same period a year ago , and in the United States and Italy , which both saw a rise of 0.7 percentage points MADRID , July 30 , 2021 - Deoleo , the world's leader in the olive oil sector , has closed a positive first half of the year , continuing a trend maintained over the past year and a half . The company posted a like - for - like net profit of € 14 million in those six months , compared to € 16 million in the same period of 2020 . EBITDA amounted to € 29 million , well above targets initially set for the first half of 2021 , although it was impacted by exchange - rate movements , mainly involving the US dollar and the euro , and by increased brand investment . Despite the financial and market complexities , solid performance at all business units boosted Deoleo's volumes by 3 % year - on - year . Growth also outstripped even that of last year , when household consumption of olive oil jumped globally as a result of restrictions imposed at the beginning of the pandemic crisis and prices remained low and stable . Sales increased by 8 % in the first half of this year , driven by volume growth and by prices lifted due to costlier raw materials . The growth in both volumes and sales - stemming from astute commercial management meant that the impact of higher raw - material prices translated into better - than - expected results . - The company's positive progress can also be seen in the market - share gains made by Deoleo brands , which continued to increase in the first quarter of the year against the same period of 2020. According to data provided by IRI and Nielsen , market shares rose by 1.4 percentage points in Germany , 6.7 points in Mexico and 0.7 points in the United States and Italy . In Spain , the share remained stable . Net profit for the first half amounted to € 59 million , including a € 49 million positive impact on corporate taxes , resulting from a fiscal reassessment of the company's brands . The Carapelli Firenze subsidiary has taken advantage of this , in accordance with the urgent measures implemented by the Italian government to support and relaunch the economy . " We have completed a highly positive half year , in which all business units have performed very well , with North America and Northern Europe outstanding , " said Ignacio Silva , Chairman and CEO of Deoleo . " Our top - flight commercial management , achieving continued market - share growth in key locales , has once again proved its effectiveness . It has enabled us to continue to drive volumes and sales and limit the impact of the challenges that the sector is currently facing , especially in the more mature markets . This is evidence that Deoleo is perfectly prepared today to compete more effectively in an uncertain and volatile environment . " Higher raw - material prices led to a € 27 million rise in the group's working capital , 39 % more than at the end of last year , but the management of this capital , together with strong business performance , has enabled the company to maintain the usual high liquidity levels and a stable net financial debt . Cash flow was maintained at € 73 million and the company is in compliance with all the relevant covenants established in the new syndicated financing agreement . REGISTRO MERCANTIL DE CORDOBA , TOMO 2425 FOLIO 56 , HOJA CO - 35003 . N.I.F .: A48012009 DIRECCIÓN FISCAL : CTRA . N - IV , KM 388 , 14610 ALCOLEA ( CÓRDOBA ) . T +0034 957 320200 OFICINAS CENTRALES : MARIE CURIE , 7 - 4ª PLANTA , RIVAS VACIAMADRID 28521 ( MADRID ) . T +0034 915 589505 www.deoleo.com