MONDRAGON ends the financial year 2010 with a profit of 178 million euros, tripling the previous year’s figures
- Date: miércoles, 01 de junio de 2011
The MONDRAGON Corporation ended the financial year 2010 with highly satisfactory figures, with a profit of 178 million euros tripling the figures for 2009. The cooperative group presented its results for the financial year 2010, which were much higher than those of the previous year in spite of the current economic crisis.
In addition to the good financial results and the advance in total sales, another positive aspect of 2010 is that the Corporation is back on the track to employment recovery in the Industry Area, with an increase of 1,378 jobs in the average staff figures during the year as compared to 2009.
The main reason for these results is the efficiency of the measures taken over these years – economic, social and financial measures amongst others – which enabled an increase in the companies’ competitive capacity, the diversity of offer of the MONDRAGON businesses and their growing presence on the international markets, and their firm commitment to innovation: 21.4% of sales in the Industry Area were new products and services that did not exist five years previously.
As regards the group’s presence on foreign markets, the higher ratio of international sales to total sales is significant, rising to 63% in 2010, a 3.5% increase with respect to 2009. A total of 77 subsidiaries have now been started up abroad, and the group has consolidated its business presence in Europe and in emerging countries such as China, Brazil, India and Russia.
As regards investment, figures for the Industry Area amounted to 377 million euros, which have made this positive performance in these areas possible to a large extent, in addition to MONDRAGON’s firm innovation commitment, with R+D+I investment of 143 million euros. The Corporation has 716 invention patents and is involved in 76 R+D projects, 42 of them international. In this sphere we would stress the contribution of Mondragon University, the Corporation’s technology centre network – consisting of 14 centres – and the innovation effort made by the cooperatives.
In the Retail Area, turnover reached 8,277 million euros, a slight decrease (2.4%) on the figures for 2009. In a financial year characterised by stagnant consumption, significant steps have been taken to reduce the bank debt, operating costs have been improved and a strategy based on “the most competitive price” for customers’ basic purchases has been put into practice.
In the Finance Area, the MONDRAGON companies ended the financial year on a successful note thanks to their measures for improving the companies’ efficiency, despite a tough scenario affecting the sector.
In the words of MONDRAGON’s General Council Chairman, José María Aldecoa, "in the financial year 2010, a year when we have had to do business against the backdrop of the economic crisis, we have seen the good results of the measures taken in 2009, which confirm the diagnosis made at the time and the success of the guidelines put into practice to respond to the situation. In this sense, with a view to the future, we hope to be able to continue contributing to the development of our society by generating new projects and new jobs, with internationalisation and innovation as our bases”.
MONDRAGON: one year in two minutes. Yearly report video of MONDRAGON Corporation 2010.