Increase in investment pace and new acquisitions in sight after the closing of the purchase of the phytosanitary plant that Bayer had in Quart de Poblet (Valencia). MAT Holding plans to triple its investments this year and already has three acquisitions underway to strengthen its water technology division with the aim of fulfilling its strategic plan, which foresees reaching a sales volume of 500 million within five years, consolidating itself "as a global leader in sustainable agriculture solutions and efficient water management."
In a statement, the group chaired by Pau Relat explained this Monday that the 2023 financial year closed with a turnover of 336 million euros, a figure that represents a 7.7% decrease compared to the previous year, due to the impact of the drought, which has reduced the demand for phytosanitary products, and other factors such as "disruptions in the supply chain" of its water and irrigation technology division.
Specifically, MAT Holding's main business unit, which brings together agricultural and phytosanitary activity ---through its subsidiaries IQV, Regaber, and Vegga--- recorded sales of 206 million in 2023, down 7.8%. In parallel, the irrigation and water conduction technology division (filtration and valves) recorded a 7.3% drop in sales, with 130 million. This unit includes companies such as Aquestia, STF, and Hidroglobal.
International business ---selling in more than 140 countries--- already generates 65% of the turnover of the group owned by the Matosas family, while the Spanish market contributes 35% of sales. Relat highlights that 2023 "was a complex year" in which, however, progress was made in strategic growth lines, such as the Vegga digital agriculture platform and the TerraNostra company for transforming farms into high-value crops. In addition, MAT Holding once again boosted its growth through corporate operations, such as the acquisition of Bayer's Valencian factory, which was definitively signed last Friday.
The Quart de Poblet plant has a workforce of 69 people and will allow MAT Holding ---through IQV--- to increase its production capacity and double its third-party manufacturing division of phytosanitary and biorational products (natural or synthetic substances similar and functionally identical, used in crop protection, with low environmental impact and for human health).
MAT Holding's objective is to execute investments of 60 million euros this year, mainly aimed at acquiring "strategic productive assets." This figure represents tripling the investment pace of recent years in order to achieve the objectives of the strategic plan. According to the company, in the first quarter of 2024 the group is growing by 15% compared to the same period of the previous year, so it expects to be able to close the year with revenues close to 400 million euros. The company based in Parets del Vallès (Barcelona) also states that the three acquisitions it already has advanced will allow it to strengthen its activity in filtration and valves and expand its international industrial presence.
MAT Holding employs more than 1,100 people and has IQV (Industrias Químicas del Vallès) as its parent company, a company founded in 1935 and a world leader in plant health solutions based on copper salts. The group has subsidiaries in Spain, Portugal, Italy, Turkey, Morocco, Chile and El Salvador. The Quart de Poblet plant acquired from Bayer joins the production centers it owns in Mollet del Vallés and Cheste.