Noel increases its turnover by 4%, reaching a record 664 million
Meat was the business segment that performed best last year, especially sliced cooked ham, with more than 22%.
BarcelonaNoel has once again recorded record revenue, with €664 million last year, 4% more than the previous year. Investments amounted to €23 million, and sales abroad accounted for half of the total.
Albert Boix, CEO of Noel, states that 2024 was a "year of consolidation of the business model, which combines sustainable industrial growth, a commitment to innovation, and a strong belief in internationalization," thereby "promoting strategic projects that anticipate the challenges of the sector."
The company, founded in 1940, is headed by the fourth generation of the Boix-Bosch family, with a workforce of more than 2,700 people, fifteen production centers spread across Spain, and operations in 66 countries. The company has continued to grow in the Spanish market and has reached a 22.7% share of sliced cooked ham in 2024, surpassing the 20.9% of the previous year. References with 93% meat content and gluten and lactose free reaffirm the brand's position in this product category.
Spain, main market
Geographically, Spain remains Noel's main market, with €345 million in sales, while almost 50% of the remaining revenue comes from other international markets. This consolidates Noel's commitment to maintaining its global presence. Proof of this is the recent alliance with Jiangsu Toword Food to market the brand's products in the Chinese market, through a newly created company, Toword&Noel Food Group, owned 50% by both companies.
To support and ensure the smooth development of its business, Noel has allocated a total of €23.3 million to investment projects in 2024, a figure that represents a 6% increase compared to the previous year. This commitment has allowed it to strengthen its production capacity, improve processes, and prepare its facilities to face new future challenges.
Among the main investments, it is worth highlighting the €4 million to launch new dryers at the Noel 4 plant, with the aim of increasing the production of cured minced products; €3.5 million to modernize the Noel 3 slicing plant, to improve efficiency and service quality; and €1.2 million dedicated to the expansion of the Noel 1 cooked food plant. All these facilities are located in the municipality of Sant Joan les Fonts. In addition, €3.9 million was also allocated to the Noel Olot plant, dedicated to pork butchering, which has seen an expansion of its operational and logistics space.
Beyond meat products, in line with the project it launched a few years ago to enter other product categories, Noel has continued to strengthen its strategy of consolidating other business divisions. In this way, the group has continued to advance in the production of creams, gazpachos, sauces and vegetable juices. cold pressed with the subsidiary companies Tap Tap Food and The Juicy Group. And, in the area of prepared dishes, Noel maintains a partnership with renowned Catalan chef Nandu Jubany through the company Global Art Cooking, focused on the production of premium croquettes and cannelloni. The turnover of these business divisions was €35.7 million in 2024, 13% more than in the previous year.
