The Jesús del Perdón-Bodegas Yuntero Cooperative held its Ordinary General Assembly yesterday, February 25, where the annual accounts for the 2016/2017 campaign were formulated, with a turnover of 44.8 million euros. Which represents a growth over the previous campaign of 19.53% and a profit, before taxes, of 571,323 euros, after making settlements to its Members for the different varieties of grapes, at prices higher than market prices.
The net worth of the Cooperative reached the figure of 23.8 million euros, with an increase of 10.58%, reflecting the balance of its balance sheet and the great solvency that the Cooperative currently has. After a broad presentation of the accounts with projections of the evolution of the Cooperative during recent years, they were put to a vote, and were approved unanimously by those present.
2017 harvest, 105 million kilos of grapes
In a second point, the management carried out during the current campaign, and since the last General Assembly, was reported, giving an account of the economic/financial, commercial and social management, highlighting the kilos of grapes received in the 2017 harvest that amounted to 105 million kilos of grapes, with a minimum decrease of 6% compared to the previous campaign, when losses due to drought and frost in the region reached a 20% decrease. The marketing progress of the current campaign was then reported, with a very significant increase in sales and prices of wines, motivated by the decrease in the harvest worldwide. Regarding bottled wines, sales continue to be consolidated around the world, the previous campaign saw a growth of 36%, and an ambitious marketing plan is currently being developed in promotion, attendance at fairs and trade missions, to continue opening new ones. markets and increase positioning.
The strategic plans of the Cooperative will be to continue growing in production, but clearly betting on quality, process improvement and marketing, it will continue to be open to any integration and merger with other companies, as long as these integrations improve results and settlements. of cooperative members. In the Assembly, the Administrations were reminded to be sensitive when legislating the different lines of subsidies and that Cooperatives such as Jesús del Perdón–Bodegas Yuntero, with permanent growth, strong investments, job creation and a great effort to respect the environment With their discharges controlled and purified, they are not discriminated against other companies.
Investment Plan 2018
In the third point of the Agenda, an investment project was unanimously approved, in its fixed assets for the current campaign for the amount of: 5.8 million euros, with these investments the Cooperative has exceeded 28 million in the last five years of euros in investment.
The investments approved for 2018 will be the construction of two warehouses to cover outdoor tanks with a total capacity of 12 MM/liters; the conversion of cement tank warehouses into stainless steel tanks with capacities from 20,000 to 80,000 liters; the adaptation of a warehouse for finished bottling products of 2,000 m2; improvements in the bottling line; expansion and improvements in the treatment plant, warehouse equipment, and various facilities.
The Assembly concluded with the unanimous approval of all the points of the Agenda, and in a climate of satisfaction of all the Members for the progress of the Cooperative, tasting the different wines produced from the 2017 harvest.
