The RAR Group Consolidates its Growth Path.
Despite the impact of rising energy and raw material prices caused by the war in Ukraine, the RAR Group managed to reaffirm the growth of its businesses in 2022. In the Annual Report for the previous fiscal year, the main financial figures and economic indicators of its subsidiaries are disclosed.
According to the President of the RAR Group, Nuno Macedo Silva, “a war on the doorstep of the European Union and the subsequent worsening of inflation does not leave any business indifferent.” Despite the “exposure to the Russian market being very marginal to the activity of the various businesses of the Group, the escalation of energy and raw material prices impacted almost all,” he adds.
Nonetheless, despite the anticipated volatility for this year, Nuno Macedo Silva is optimistic about the development of RAR’s businesses. On the other hand, he emphasizes that a good portion of the Group’s debt is contracted at a fixed rate, which allows them to “partially mitigate the impact of the sharp rise in interest rates.”
The consolidated turnover of the RAR Group amounted to 996 million euros in 2022, an increase of 28% compared to the previous year. The EBITDA reached 72 million euros, up 3% from 2021, and net income reached 16.4 million euros, according to the 2022 Annual Report released today (RAR Group Annual Report). These figures confirm the growth recorded in recent years, despite the adverse international economic conditions.
According to the President of the RAR Group, Nuno Macedo Silva, “a war on the doorstep of the European Union and the subsequent worsening of inflation does not leave any business indifferent.” Despite the “exposure to the Russian market being very marginal to the activity of the various businesses of the Group, the escalation of energy and raw material prices impacted almost all,” he adds.
Nonetheless, despite the anticipated volatility for this year, Nuno Macedo Silva is optimistic about the development of RAR’s businesses. On the other hand, he emphasizes that a good portion of the Group’s debt is contracted at a fixed rate, which allows them to “partially mitigate the impact of the sharp rise in interest rates.”
It all started with the sugar business 61 years ago, an origin that remains alive in the acronym RAR (Refinarias de Açúcar Reunidas). In six decades, not only has the initial investment been maintained, but it also gave rise to an economic group that expanded its activity far beyond the food sector, diversifying into packaging, consumer goods, real estate, and services. This dynamic includes a presence, in addition to Portugal, in eight more countries across three continents, making the RAR Group a reference in the national landscape.
