Slide #1

2021- LASENOR BUSINESS SUMMARY

2021 has been an unstable year, and Lasenor -as most of the companies- has had to develop its business model in the middle of different pandemic waves, facing a notable cost increase in many of the raw materials we are using in our products, and in the door of an unprecedent energy cost increase. 

Despite all these external conditions, all Lasenor sites have been working with no major setbacks, without significant problems coming from covid, and overcoming the challenges that the raw materials are creating on the supply chain. 

Lasenor portfolio has been developing according to our expectations and goals, and together with a market showing high demand for food additives, Lasenor has been able to market, for first time, more than 32 thousand metric tons of lecithin systems and food emulsifiers. 

New product families that have shown high performance and are taking weight within Lasenor portfolio are: 

At the same time, Lasenor model to develop markets, not based in an export model, but in a production subsidiary implementation, is showing reliable performance. On 2021 growth in Brazil, India and USA has been remarkable, thus we should congratulate teams from Potim, Nagpur and Salem. 

Major hurdles than have affected our growth have been: 

  • scarcity of non-GMO lecithin – Brazil supply is in its sunset, and hopes are centered in Indian soy and sunflower (Black sea, EU & Argentina) 
  • increase in price of some raw materials – which have affected to some products expected profitability 

Overall, Lasenor model is showing good health and satisfactory results. It is proving to be adaptable in current scenario of fast changes and high uncertainty. It is proving to be the right one for the company we expect to build.