CAPSA FOOD closes 2021 with record sales of 758 million euros

30 May, 2022

• Profit stands at 19 million euro in a year marked by rising costs.

• CAPSA FOOD increases its leadership in the milk, cream and butter markets, with value-based market share of around 20%.

• Exports are growing strongly and continue to consolidate with the company’s entry into ten new markets.

• The company advances in its Comprehensive Sustainability Plan with the aim of achieving climate neutrality by 2035.

26 May 2022. This morning, CAPSA FOOD’s accounts (Corporación Alimentaria Peñasanta, S.A.) were approved and the results corresponding to the 2021 financial year were presented by the company’s General Shareholders’ Meeting.

The 2021 financial year closed with record turnover of 758 million, which is an increase of close to 8 million euro compared to the previous year. EBITDA stands at 37.3 million euro (45.05 million in 2020) with net profit of 19 million euro (25 million in 2020).

Despite the decrease in EBITDA and profit compared to the previous year, the company positively assesses the year’s results, taking the increase in prices in different concepts in the second half of the year into account, which had a negative impact on the profit and loss account even having increased turnover. To give some examples: In the case of energy, prices show 100% increases compared to the previous year. Packaging prices have increased by 12% compared to the same period in 2020, while raw material costs increased almost 4%.

In this situation, the cost optimisation policies implemented, such as the expansion of the automated warehouse and the management of different projects, have been key in achieving these results to mitigate the effect of inflation.

Regarding CAPSA FOOD’s market leadership, and making a comparison with 2020, it has been a record year in sales. As a result of the large increase in consumption of its products in homes due to the pandemic, the company has defended its position and maintained its value-based market share with respect to the previous year, widening the gap with respect to its competitors. Liquid milk closed the year with 19.3% market share, identical to that of the previous year. In cream, it maintains a share of 20.3%, while in the butter market, it holds a 25.3% share, almost one point above 2020.

Central Lechera Asturiana continues to be the most-chosen dairy brand by Spanish consumers and the third-most-chosen brand in Spain according to the Brand Footprint study, being present in 56.7% of households.

The Food Service area experienced 17% growth in sales compared to 2020, as a result of activity reactivation in the Spanish hospitality industry.

In term of exports, the company continues to grow strongly and consolidate, entering ten new markets in 2021, which has resulted in increased international distribution agreements. In addition, the sales mix in these markets has evolved with a clear commitment to implementing products that generate greater profitability for the company. At the end of this financial year, the weight of CAPSA FOOD’s Spanish exports of packaged milk and cream outside the EU countries was 16%.

The new businesses are consolidated in their respective markets, increasing their sales by 30% in 2021. The range of “39ytu” probiotics is now present in more than 100 pharmacies nationwide. Also, and as a result of the agreement reached with Delikia, the leading vending operator in Spain, CAPSA has product in all of their machines, providing milk for their coffees. An agreement was also signed in 2021 with one of the main impulse product distributors, Lekkerkand, and with its fourteen associates, which enables CAPSA to have items in more than 30,000 establishments nationwide.

The 2021 financial year ended with 876.5 million litres of milk collected of 100% Spanish origin.

Throughout 2021, the company has continued to develop actions in different areas to continue fulfilling its purpose through its Comprehensive Sustainability Plan. As a BCORP company, in addition to seeking profitability, it promotes social, economic and environmental development through carrying out its activity.

CAPSA FOOD maintains its objective of achieving climate neutrality by 2035, which is why it continues to advance, launching initiatives of great importance at an environmental level. In the second quarter of 2021, Central Lechera Asturiana launched the net-zero-emissions bottle onto the market, with the aim of reducing the impact of its packaging and committing to offset emissions that could not be avoided. This new bottle has the AENOR Carbon Neutral Packaging certificate. In addition, in this same financial year, the new milk cartons with caps made from sugar cane were also placed on the shelves, thus reducing the carbon footprint by nearly 20% compared to containers made with plastic of fossil origin.

In terms of labour, the company has once again been certified as a TOP EMPLOYER IN SPAIN, recognising its value and guaranteeing that it is one of the best companies to work for. At the national level, only 103 companies hold this certification, which reinforces CAPSA FOOD’s commitment as an exemplary employer.

Another important milestone developed throughout this year by CAPSA FOOD through its Personalised Nutrition Institute was the presentation and completion of the first and only Spanish Microbiota Map Study in which more than 500 people participated, obtaining 70 million pieces of data. The study was prepared by researchers and scientists from the UCM/Central Lechera Asturiana Chair, attached to the Department of Medicine of the Complutense University of Madrid.

CAPSA VIDA continues to promote disruptive start-ups in the agri-food sector. This year, it signed an agreement with KM ZERO Food, thanks to which it will help promote innovative projects related to sustainable and healthy food, focusing on the areas that have an impact on CAPSA FOOD (green energy, digitisation of the rural environment and reduced emissions, circular economy projects, biodiversity, etc).

In terms of recognitions, CAPSA FOOD was one of the most-awarded companies at the World Cheese Awards 2021, one of the most prestigious events in the international cheese world that was held in Oviedo, winning two golds for the “Maestro Quesero” Cabrales Cheese and for the LARSA brand Tetilla, which was also awarded a bronze for its ball cheese. The Central Lechera Asturiana Toscanella mascarpone cheese also received another bronze in this same contest.


CAPSA FOOD (Central Lechera Asturiana, Larsa, ATO, 39ytu, Vega de Oro, Asana and Innova Food Ingredients) is the leading company in the Spanish dairy market with six production centres throughout Spain providing direct employment for more than 1,100 people and with international presence in more than 40 countries.

In its commitment to comprehensive sustainability, CAPSA FOOD works to “Assure the future for farming partners, offer natural products and solutions that improve people’s health and quality of life in a SUSTAINABLE ENVIRONMENT,” supporting the primary sector and the rural world, promoting health through nutrition and healthy life habits, protecting the natural environment and being the exemplary employer that it has been since its foundation.

In 2020, it became part of the BCORP movement to guarantee economic growth, care for the environment and the well-being of all the communities it impacts through the development of its activity. CAPSA FOOD is also the first Spanish food company to have the 500+ European Seal of Excellence awarded by the European Foundation for Quality Management (EFQM) and the Excellence in Management Club, which implies that it is a well-managed company and a “model to follow” in Spain, a company that innovates in the market with new formats and products with functional benefits and creates an excellent work environment for professionals’ development. It was also the first dairy company in Spain to receive “ZERO WASTE” certification in all of its factories.  Regarding the care of its employees, CAPSA has been a “TOP EMPLOYER” company since 2016, which recognises its working conditions and employees’ development. It is also an EFR company, which shows its commitment to equality and work/life balance.