Mines oven grows almost 40% and tries to return to the volume of 1999

The Mines, oven Cheese Bread Maker and supplier of dairy products to the industry, designing back in 2014 the volume level sold in 1999, of 1.6 thousand tons of cheese bread a month. In 2013, the Oven mines invested r $ 25 million, with $ 8 million in marketing. The remainder was contributed to double the production capacity. Now, the company prepares releases for 2014 and plans to increase the mix of products, with the entry into new food categories.
More than 80% of the investment is financed by the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and the Minas Gerais Development Bank (BDMG). The rest comes out of the box company and credit lines of retail banks. For 2014, the projection is to invest $ 15 million in product development and marketing.
"We want to continue growing in the levels that we are growing, from 30% to 40% per year, increasing our participation in the" food service "[food outside the home, such as bars and restaurants] and complement the mix of products for both retail and food service," says the CEO of Couto, Helder Mines oven Mendonça, without revealing the new categories that are in the plans. The idea is to increase the participation of other products, cheese bread, not on total sales. In addition, says the businessman, the company intends to take advantage of the visibility of the Cup to raise exports.
"In 2013, we invest in return to food service, which historically represented 50% of the business. Almost doubled the size of the sales team, we extended subsidiaries. Was a year of structuring. The oven is well prepared to grow. "
The company continues to seek a partner investor. In June 2013, Marin announced that it planned to sell 20% to 30% of the capital and raise about $ 150 million. Today, the MK Empreendimentos e Participações, Helder partners Christian Marin, Nayana Mendonça, Maria Dalva Couto Mendonça e Vicenti Camiloti has 71% of the company. The Bozano investments (formed from the merger of the investment fund manager with BR Mercatto Trapezus and Asset Management) owns the other 29%.
In 2003, the Mines became oven billing around r $ 205 million, below the initial forecast of $ 220 million. The performance was 38% higher than 2012, "Although the macroeconomic scenario wouldn't have grown as we expected," says Mendonça. The expectation was to follow the advance of 2012, when sales rose 40% over the previous year.
Considering only the cheese bread business, sales totaled r $ 160 million. The recipe with the dairy segment, which includes mines and dairy brands Gran Contessa, totaled r $ 45 million.
Of the 38% of increase in turnover, 26 percentage points were the volume increase and 12 percentage points of increase in prices. According to Marin, the readjustments were "far from the increase in prices of inputs. Was a year out of commodity price curve. "
The company undergoes a restructuring since the family Marie returned to command in 2009, when General Mills bought back the business sold ten years earlier.
"The market has grown a lot this time. The mine is oven in recovering the brand, "he says. "We were doing a process of resumption of market and brand. It's still a recovery. "
Marin says the Oven mines closed 2013 at a profit, but not detail values. However, the profit before interest, taxes, depreciation and amortization (Ebitda, the acronym in English) stood at 8% in relation to the Oven recipe of Mine, not to mention the dairy business. The result was below the 15 percent projection made earlier this year, which would be "healthy" for the company, according to the Manager.
The increase in raw materials costs squeezed the margins of the company, who left for a 2014 launch to be done last year. The cheese, which represents 60% of the cost of the product, was 30 percent more expensive; the eggs have gone up 40%, and the price of cassava derivatives, such as starch and flour, more than doubled.
According to Marin, the high of the main inputs "was very impressive." He says further that the industry cannot pass on any increase in the cost of production for the tip, and that this implies margin reduction.
The Oven mines absorbed part of the costs because it would not be possible to pass them integrally without losing customers. The expectation is that in 2014 some inputs go back to old price levels.
Now, the goal is to reach 15% of Ebitda until 2015, says Mendonça, through dilution of fixed costs and gain scale in logistics and commercial areas.