Natra, a Spanish multinational and one of the leading European producers of chocolate confectionery and cocoa products, posted an adjusted EBITDA of €26.2 million in 2017, up 19% year on year and fulfilling the best estimates made in November. Without the adjustments made in this period, the EBITDA would have grown 1% to €22.7 million.
- The company reduced its adjusted losses by 49% to €6.4 million.
- Heavy investments made in 2017 to improve long-term competitiveness involved costs of €3.3 million, reported as adjustments to EBITDA.
- Net debt was reduced by €8.9 million through the generation of cash during the year.
- The company expects double-digit EBITDA growth in 2018, putting its accounts back in the black.