International fragrance and flavour manufacturer, Iberchem Group, has announced financial results for 2018. Despite major disruption in the supply of several raw materials, the Spanish Group closed the year in line with the objectives of its business plan. The company reported revenues of €146 million, representing a net increase of 16% on a like-for-like basis.
2018 has been a fruitful year for Iberchem. In February, the company revealed it would expand by 3,000 sq m its R&D facility at head office. The news was later followed by the acquisition of South Africa's Versachem. Finally, over the fall, Iberchem unveiled two new facilities: a production center in Bangkok, Thailand and a creative center in Mumbai, India.
"Both our divisions have made notable progress in achieving the milestones of our current expansion plan," says Ramón Fernández, CEO of Iberchem Group. "Although these actions were time and effort consuming, and despite hikes in raw materials, the Group successfully delivered strong top-line growth and maintained a positive business momentum. Once more, the Group confirmed its well-known agility and capacity to swiftly adapt to unforeseen events, to the advantage of our customers."
