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Frutana reports a profit for 2023

02-19-2024 11:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Agri Terra Group

/ PR Agency: Pressestelle Agri Terra
Frutana with profits in 2023 (© Paraguay Fresh S.A. - concept image)

Frutana with profits in 2023 (© Paraguay Fresh S.A. - concept image)

The traditional Paraguayan brand Frutana surprisingly made an operating profit in 2023, according to its owner company Paraguay Fresh S.A., organized under the umbrella of the German-Paraguayan Agri Terra group of companies.

"Frutana had to improvise a lot last year, struggled with limited production and storage capacity, and had to turn down orders because it was simply not possible to produce enough fruit juice," says Carsten Pfau, the company's CEO. "This perhaps somewhat surprising annual profit makes us very optimistic, of course, because our new juice factory will soon be up and running, and then the picture should change again," Pfau continues.

"We have had the opportunity to be present in various large supermarket chains with our own refrigerators, but we did not yet have the necessary capacity, but we will soon have it, there is not much left to do. Then the company's growth should increase rapidly again, no question about it," explains the German investor.

The Frutana brand has been around in Paraguay for over twenty years and is best known for its freshly squeezed fruit juices. The Covid pandemic brought the company to its knees, as its main customers - fast-food chains, gas stations, schools and restaurants - hardly bought anything during this period.

During this phase, the company was taken over by Paraguay Fresh S.A., which belongs to the group of companies owned by the well-known entrepreneur and investor Carsten Pfau.

The support of the Agri Terra Group allowed the previous owners, who remained in the company after the takeover, to freely develop their skills and potential, while a new advertising campaign and, above all, a constant presence on social networks did the rest.

"For reasons of confidentiality, I shouldn't give specific figures, but I don't think I'm saying too much when I say that the annual profit for 2023 represents around twelve percent of the net purchase price for us, i.e. Paraguay Fresh S.A.," says Carsten Pfau. "If you consider that we have achieved this with the handbrake on, you can imagine that Frutana will become a true cash cow for us once we have full production capacity.

The entrepreneur, who hails from the Swabian town of Böblingen, has lived in Paraguay for around 25 years, but has other homes in various countries around the world. The family man is one of the best-known personalities in the South American country, not least thanks to his two television shows, which can be seen every week on Paraguayan evening television. Argentina's new president, Javier Milei, was once a cast member of Pfau's political talk show.

Agri Terra Group
Cruz del Defensor 1302
001885 Asunción

Pressestelle Agri Terra
Herr Carsten Pfau

The Agri Terra Group is one of Paraguay's fastest-growing companies and is heavily involved in agriculture, the agro-industry and the real estate sector. Five of the group's 23 companies have recently announced their intention to go public on the Asuncion stock exchange, and according to sources, Carsten Pfau does not want to rule out an IPO of Paraguay Fresh S.A. -and thus of Frutana- in the near future as well.

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