Annual Report 20!3

The Annual Report of Deoleo is formed by 3 parts: the Annual report, the Annual Financial Report and the Sustainability Report.
In the first part of the Annual Report we can find the Chairman’s statement and the CEO’s 
statement. The fact tah there are two statements instead of one, means that the Chairman 
and the CEO are different people. Óscar Fanjul Martín is the chairman and Jaime Carbó 
Fernández is the CEO of Deoleo.
Secondly, the financial highlights, which are a summary of all the financial information of the 
company, including assets, earnings, debt, equity… 
In 2013 the company’s business generated excellent results: €36 million profit before tax and €20 million profit after tax, and the EBITDA estimates were met. The group managed to make up for a very complicated start to the year, with an upswing in the fourth quarter of the year to historic profit levels. The EBITDA/sales margin for 2013 stands at 10%.

Consolidated Profit & Losses Account
€ 0	2013	var 13 vs 12	2012	var 12 vs 11	2011
Net turnover	812,989	-1,90%	828,868	-13,70%	960,806
Advertising	16,298	0,40%	16,225	31,50%	12,337
EBITDA	80,111	-9,20%	88,257	21,20%	72,802
%EBITDA/ Net turnover	9,90%	-7,40%	10,60%	40,50%	7,60%
Profit before tax	36,349	n.o.	163,136	n.o.	-9,058
Profit after tax	10,911	n.o.	245,565	n.o.	-19,139

At year-end 2013 sales were slightly down on the previous year, although the evolution in the  last few months of the year was very positive. Employee benefit costs dropped 23% year on year and other operating expenses were 18% lower. Investment in advertising was maintained as an instrument to boost our brands, but overheads were streamlined.

In the Annual Financial Report we can find that the Deoleo share rose by 70.91% during 2013, performing considerably better than its benchmark index, Ibex Small Caps, which rose 44.29%, and the selective index IBEX 35, up 21.42%.

Every year Deoleo publishes a report which sets out and assesses the information on the last 

olive crop year and forecasts for the current season, in this case the 2013/14 crop year.

The report includes figures on production, consumption, imports, exports and the evolution of prices in Spain and the principal producing countries in the Mediterranean region (Italy, 

Greece and Tunisia), and outlines the situation in new producing countries in the southern 

hemisphere.