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Viscofan

Full company profile

uuid0007n4e

Namestring
Viscofan
Legal namestring
Viscofan, S.A.
Company typeenum
Public
Founded yearint
1975
Descriptiontext

Viscofan S.A. is a Spain-headquartered (Tajonar, Navarra) global manufacturer of artificial casings for the meat processing industry, founded in 1975 and publicly traded on the Spanish stock exchange (ticker: VIS). The company operates casing production sites in 13 countries — Spain, Australia, Belgium, Brazil, Canada, China, Czech Republic, Germany, Mexico, New Zealand, Serbia, Uruguay, and the United States — and serves meat processors in more than 100 countries through direct sales offices, country-specific sales contacts, regional distributors, and the VisNet B2B portal. As of 2025, the company employs approximately 5,900 people globally and reported revenue of €1,252.0 million, EBITDA of €290.0 million (23.2% reported / 23.7% like-for-like margin), and net profit of €159.9 million.

The company's core offering is the only full-range portfolio of artificial casing technologies globally — cellulose, collagen, fibrous, and plastic casings — augmented by functional solutions (Transfer Casings/Vispice, ediLEAF flavor-transfer sheets), sustainable plastics (eFAN recycled and plant-based variants), an edible plant-based casing (Viscofan Veggie), Vector shrink bags and films, machinery solutions (clip machines, Reel-Pak, T-Sizer, V-Sizer), and adjacent product lines including medical-grade collagen biomaterials (Viscofan BioEngineering) and nutra-pharma products (Satiscoll collagen peptide bars, Collinstant). Proprietary technologies such as Flexmax (enhanced stuffing speed), Shadow Print (printed casings for branding), and the Vector packaging platform underpin product differentiation, with food-safety and quality certifications (ISO 9001/14001/45001, BRCGS Food and Packaging, FSSC 22000) maintained across major facilities.

Viscofan operates an enterprise B2B sales model combining global direct field-sales and technical-service teams with regional distributors, supported by industry trade-show presence (IFFA) and downloadable product literature. Revenue is generated almost entirely through hardware sales of physical casings, films, biomaterials, and machinery negotiated directly with customers on volume- and contract-based terms — pricing is not publicly disclosed. Primary customers are meat processing companies of all sizes, with secondary verticals in plant-based protein manufacturers (via Viscofan Veggie), biomedical/medical device developers (via Viscofan BioEngineering), and consumer nutraceuticals (Satiscoll, Collinstant). The 2025-2030 Beat'30 strategic plan targets approximately 8% organic sales growth and 9% EBITDA growth, with €15-22 million in identified cost-saving initiatives.

Short descriptiontext

Viscofan S.A., headquartered in Spain, is the world's only manufacturer offering the complete range of artificial meat casings technologies — cellulose, collagen, fibrous, and plastic. The company operates 13 production sites and serves industrial meat processors across 100+ countries.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
5,001–10,000
akta.pro rankint
HeadquartersTajonar, Spain
HQ citystring
Tajonar
HQ countrystring
Spain
HQ regionstring
Europe
Markets served

Serves global market

Offices8 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
artificial meat casings, cellulose casings, collagen casings, fibrous casings, food packaging solutions
Industry3 codes
1Edible Casings Processing (Natural Hog/Sheep/Beef Casings)
CodeAFANAJABPrimaryYes
2Deli & prepared foods (retail/foodservice pack) manufacturing
CodeAFAKAHAFPrimaryNo
3Texturization & Structuring Technologies (Extrusion, Shear-Cell, Spinning, 3D Printing)
CodeAFANAKAIPrimaryNo
NAICS code2 codes
  • Food Manufacturing311
  • Meat and Meat Product Merchant Wholesalers42447
SIC code3 codes
  • Food And Kindred Products2000
  • Plastics Products, Nec3089
  • Papers & Allied Products2600
Product category
Meat Casings and Food Packaging
Social media profiles1 record
GTM motion2 records

Each record includes

Type, Description, Source

Revenue model4 records
1Meat casing and food packaging solutions sales
TypeHardware Sales
Description

Viscofan generates revenue primarily from the manufacture and sale of artificial meat casings (cellulose, collagen, fibrous, plastic) and related food packaging solutions to the meat processing industry globally.

viscofan.com
2Functional solutions and specialty products
TypeHardware Sales
Description

Additional revenue streams include transfer casings, edible vegetable casings (Viscofan Veggie), flavor sheets (ediLEAF), sustainable plastics (eFAN), and machinery solutions. These value-added products are sold alongside core casings to existing and new customer segments.

viscofan.com
3Biomaterials and medical applications
TypeHardware Sales
Description

Viscofan BioEngineering produces collagen gel and vascular simulation vessels derived from proprietary native collagen blends for medical device development and biomedical research applications.

viscofan.com
4Nutra-pharma products (Satiscoll, Collinstant)
TypeHardware Sales
Description

Viscofan offers nutra-pharma branded products including Satiscoll (collagen peptide snack bars for weight management) and Collinstant (collagen-based nutritional supplements), sold under separate brands at satiscoll.com and collinstant.com.

Marketing channels5 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels4 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Brand1 of 9 records shown
1Viscofan Veggie
Description

Edible vegetable casing for vegetarian and vegan recipes

viscofan.com
+8 more records
Core offering1 text field

Viscofan manufactures and sells artificial casings for the meat processing industry, covering cellulose, collagen, fibrous, and plastic casing technologies, plus functional solutions (Transfer Casings, ediLEAF), sustainable products (eFAN, Viscofan Veggie), shrink bags and films (Vector, NANOPACK), medical biomaterials, machinery solutions, and nutra-pharma products (Satiscoll, Collinstant). The company sells to meat processors, food manufacturers, plant-based protein producers, medical device developers, and biomedical researchers across more than 100 countries.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 4 values shown
  • Revenue of €1,252.0 million in 2025, up 4.0% YoY (+6.1% like-for-like)
+3 more records
Product overview1 text field

Viscofan is the only supplier in the world offering the complete range of casing technologies (cellulose, collagen, fibrous, and plastic) for the meat processing industry. The company's product portfolio centers on artificial meat casings as the core offering, supplemented by functional solutions (transfer casings and Vispice seasoning), sustainable plastics (eFAN), edible vegetable casings (Viscofan Veggie), and flavor delivery sheets (ediLEAF). Supporting offerings include medical-grade biomaterials, machinery solutions (clip machines, sizing equipment), and flexible packaging films under the Vector brand. The company also operates VisNet, a customer portal for product information access. Nutra-pharma products Satiscoll and Collinstant extend the collagen expertise into nutritional supplements. The portfolio functions as a unified suite of food casing and packaging solutions rather than a modular platform architecture.

Product and service1 record
1Cellulose Casings
Scale indicator13 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierMinorTypeOthers
Description

Viscofan participates as an exhibitor and virtual booth host at IFFA, the leading international trade fair for the meat industry. The company uses the event to showcase innovations and connect with customers globally.

2University of Navarra's Center for Nutrition Research
Strategic tierMinorTypeStrategic or Co-development Partner
Description

Researchers from the University of Navarra's Center for Nutrition Research conducted the clinical trial on Viscofan's Satiscoll collagen peptide snack bars and plan to conduct a new human intervention study starting in September 2026 to investigate proposed mechanisms including gut microbiota effects, stomach swelling, and muscle building effects.

viscofan.com
Recent move8 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Market position
Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature9 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries16 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance6 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment7 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Viscofan

Meat Casings and Food Packagingviscofan.com

Viscofan S.A., headquartered in Spain, is the world's only manufacturer offering the complete range of artificial meat casings technologies — cellulose, collagen, fibrous, and plastic. The company operates 13 production sites and serves industrial meat processors across 100+ countries.

What Viscofan does

Viscofan S.A. is a Spain-headquartered (Tajonar, Navarra) global manufacturer of artificial casings for the meat processing industry, founded in 1975 and publicly traded on the Spanish stock exchange (ticker: VIS). The company operates casing production sites in 13 countries — Spain, Australia, Belgium, Brazil, Canada, China, Czech Republic, Germany, Mexico, New Zealand, Serbia, Uruguay, and the United States — and serves meat processors in more than 100 countries through direct sales offices, country-specific sales contacts, regional distributors, and the VisNet B2B portal. As of 2025, the company employs approximately 5,900 people globally and reported revenue of €1,252.0 million, EBITDA of €290.0 million (23.2% reported / 23.7% like-for-like margin), and net profit of €159.9 million.

The company's core offering is the only full-range portfolio of artificial casing technologies globally — cellulose, collagen, fibrous, and plastic casings — augmented by functional solutions (Transfer Casings/Vispice, ediLEAF flavor-transfer sheets), sustainable plastics (eFAN recycled and plant-based variants), an edible plant-based casing (Viscofan Veggie), Vector shrink bags and films, machinery solutions (clip machines, Reel-Pak, T-Sizer, V-Sizer), and adjacent product lines including medical-grade collagen biomaterials (Viscofan BioEngineering) and nutra-pharma products (Satiscoll collagen peptide bars, Collinstant). Proprietary technologies such as Flexmax (enhanced stuffing speed), Shadow Print (printed casings for branding), and the Vector packaging platform underpin product differentiation, with food-safety and quality certifications (ISO 9001/14001/45001, BRCGS Food and Packaging, FSSC 22000) maintained across major facilities.

Viscofan operates an enterprise B2B sales model combining global direct field-sales and technical-service teams with regional distributors, supported by industry trade-show presence (IFFA) and downloadable product literature. Revenue is generated almost entirely through hardware sales of physical casings, films, biomaterials, and machinery negotiated directly with customers on volume- and contract-based terms — pricing is not publicly disclosed. Primary customers are meat processing companies of all sizes, with secondary verticals in plant-based protein manufacturers (via Viscofan Veggie), biomedical/medical device developers (via Viscofan BioEngineering), and consumer nutraceuticals (Satiscoll, Collinstant). The 2025-2030 Beat'30 strategic plan targets approximately 8% organic sales growth and 9% EBITDA growth, with €15-22 million in identified cost-saving initiatives.

Viscofan firmographics

Firmographics
Name
Viscofan
Legal name
Viscofan, S.A.
Website
https://www.viscofan.com
Company type
Public
Founded year
1975
Operating status
Operating
Headcount range
5,001–10,000 employees
Short description
Viscofan S.A., headquartered in Spain, is the world's only manufacturer offering the complete range of artificial meat casings technologies — cellulose, collagen, fibrous, and plastic. The company operates 13 production sites and serves industrial meat processors across 100+ countries.
Ownership category
akta.pro rank

Viscofan industry classification

Industry
Product category
Meat Casings and Food Packaging
NAICS
Food Manufacturing (311), Meat and Meat Product Merchant Wholesalers (42447)
SIC
Food And Kindred Products (2000), Plastics Products, Nec (3089), Papers & Allied Products (2600)
akta.pro primary industry
Edible Casings Processing (Natural Hog/Sheep/Beef Casings) (AFANAJAB)
akta.pro secondary industries
Deli & prepared foods (retail/foodservice pack) manufacturing (AFAKAHAF), Texturization & Structuring Technologies (Extrusion, Shear-Cell, Spinning, 3D Printing) (AFANAKAI)

Keywords

  • Artificial meat casings
  • Cellulose casings
  • Collagen casings
  • Fibrous casings
  • Food packaging solutions

Where Viscofan is headquartered

Location

Headquarters

HQ city
Tajonar
HQ country
Spain
HQ region
Europe

Offices8 records

Markets served

Viscofan business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

  1. Meat casing and food packaging solutions sales: Viscofan generates revenue primarily from the manufacture and sale of artificial meat casings (cellulose, collagen, fibrous, plastic) and related food packaging solutions to the meat processing industry globally.
  2. Functional solutions and specialty products: Additional revenue streams include transfer casings, edible vegetable casings (Viscofan Veggie), flavor sheets (ediLEAF), sustainable plastics (eFAN), and machinery solutions. These value-added products are sold alongside core casings to existing and new customer segments.
  3. Biomaterials and medical applications: Viscofan BioEngineering produces collagen gel and vascular simulation vessels derived from proprietary native collagen blends for medical device development and biomedical research applications.
  4. Nutra-pharma products (Satiscoll, Collinstant): Viscofan offers nutra-pharma branded products including Satiscoll (collagen peptide snack bars for weight management) and Collinstant (collagen-based nutritional supplements), sold under separate brands at satiscoll.com and collinstant.com.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Viscofan product offering

Product offering

Core offering

Viscofan manufactures and sells artificial casings for the meat processing industry, covering cellulose, collagen, fibrous, and plastic casing technologies, plus functional solutions (Transfer Casings, ediLEAF), sustainable products (eFAN, Viscofan Veggie), shrink bags and films (Vector, NANOPACK), medical biomaterials, machinery solutions, and nutra-pharma products (Satiscoll, Collinstant). The company sells to meat processors, food manufacturers, plant-based protein producers, medical device developers, and biomedical researchers across more than 100 countries.

Product overview

Viscofan is the only supplier in the world offering the complete range of casing technologies (cellulose, collagen, fibrous, and plastic) for the meat processing industry. The company's product portfolio centers on artificial meat casings as the core offering, supplemented by functional solutions (transfer casings and Vispice seasoning), sustainable plastics (eFAN), edible vegetable casings (Viscofan Veggie), and flavor delivery sheets (ediLEAF). Supporting offerings include medical-grade biomaterials, machinery solutions (clip machines, sizing equipment), and flexible packaging films under the Vector brand. The company also operates VisNet, a customer portal for product information access. Nutra-pharma products Satiscoll and Collinstant extend the collagen expertise into nutritional supplements. The portfolio functions as a unified suite of food casing and packaging solutions rather than a modular platform architecture.

Differentiator

Problem solved

Functional benefit

Brands

  • Viscofan Veggie: Edible vegetable casing for vegetarian and vegan recipes
  • eFAN
  • Edileaf
  • Satiscoll
  • Collinstant
  • Viscofan BioEngineering
  • VisNet
  • Vector
  • Nitta Casings

Products and services

  • Cellulose Casings

Quantifiable outcome

  • Revenue of €1,252.0 million in 2025, up 4.0% YoY (+6.1% like-for-like)
  • +3 more outcomes

Companies that use Viscofan

Customer profile

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Viscofan technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature9 records

Viscofan partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered minor.

  • IFFA (Messe Frankfurt)minorOthersViscofan participates as an exhibitor and virtual booth host at IFFA, the leading international trade fair for the meat industry. The company uses the event to showcase innovations and connect with customers globally.
  • University of Navarra's Center for Nutrition ResearchminorStrategic or Co-development PartnerResearchers from the University of Navarra's Center for Nutrition Research conducted the clinical trial on Viscofan's Satiscoll collagen peptide snack bars and plan to conduct a new human intervention study starting in September 2026 to investigate proposed mechanisms including gut microbiota effects, stomach swelling, and muscle building effects.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Viscofan competitors and assessment

Company assessment

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Viscofan social profiles

Digital presence

Viscofan compliance and trust

Trust signal

Compliance6 records

Viscofan financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Viscofan leadership team

Management profile

Number of profiles

Profiles3 records

Viscofan subsidiaries and ownership

Company hierarchy

Subsidiaries16 records

Viscofan funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Viscofan M&A and investment

M&A and investment

M&A1 record

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viscofan

What does Viscofan do?

Viscofan manufactures and sells artificial casings for the meat processing industry, covering cellulose, collagen, fibrous, and plastic casing technologies, plus functional solutions (Transfer Casings, ediLEAF), sustainable products (eFAN, Viscofan Veggie), shrink bags and films (Vector, NANOPACK), medical biomaterials, machinery solutions, and nutra-pharma products (Satiscoll, Collinstant). The company sells to meat processors, food manufacturers, plant-based protein producers, medical device developers, and biomedical researchers across more than 100 countries.

Is Viscofan a public or private company?

Viscofan is a public company. It is classified as public and is currently operating.

When was Viscofan founded?

Viscofan was founded in 1975. It employs 5,001 to 10,000 people.

Where is Viscofan based?

Viscofan is headquartered in Tajonar, Spain, in the Europe region.

How does Viscofan make money?

Four revenue lines are on record. Meat casing and food packaging solutions sales are the primary driver. The others are functional solutions and specialty products, biomaterials and medical applications and nutra-pharma products (Satiscoll, Collinstant).

Does Viscofan have an API?

No public API is recorded for Viscofan.

What industry is Viscofan in?

Viscofan's product category is Meat Casings and Food Packaging. Its primary akta.pro industry code is AFANAJAB, Edible Casings Processing (Natural Hog/Sheep/Beef Casings), with a secondary code of AFAKAHAF, Deli & prepared foods (retail/foodservice pack) manufacturing. Its NAICS code is 311 and its SIC code is 2000.

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Live signals
WebcapitalriesgoMOA Foodtech cierra una ron da de €3,3M liderada por EIC. Participan Sodena, Swanlaab, CDTI, Viscofan y ClaveMOA Foodtech closed a €3.3M funding round led by EIC Fund and Swanlaab, with participation from CDTI, Viscofan, and Clave Capital. The company will use the funds to accelerate commercialization of its fermentation-based functional ingredients and expand production capacity. Sodena, which has supported the firm since 2021, contributes €100,000.Empresas de Capital Riesgo en EspaSodena reaffirms its commitment to MOA FOODTECH in a new €3.3 million financing roundMOA Foodtech closed a €3.3 million financing round led by the EIC Fund and Swanlaab Innvierte, with Sodena contributing €100,000. The funds will accelerate commercialization of functional ingredients from biomass fermentation. The company will expand production and develop new applications for human, pet, and health sectors.AInvestViscofan's Q2 Implied Beat Keeps the 5.6% Yield Alive-But H2 Is a "Lower End" Stress TestViscofan reported H1 2026 revenue of €629.8 million (up 1.8%, or 4.8% like-for-like), with implied Q2 revenue of approximately €324.47 million and net profit of €37.62 million, suggesting a sequential improvement over Q1 despite persistent cost pressures. H1 EBITDA fell 7.4% year-over-year, and management expects full-year EBITDA at the lower end of guidance, with net bank debt rising to €283.3 million from €206.1 million at year-end 2025. The company's 5.57% dividend yield and 16.47 P/E ratio remain contingent on whether H2 execution can contain cost inflation and sustain casing volumes.Seeking AlphaViscofan, S.A. 2026 Q2 - Results - Earnings Call Presentation (OTCMKTS:VSCFF) 2026-07-30Viscofan, S.A. held an earnings call presentation for its Q2 results on July 30, 2026. The presentation included details on the company's financial performance, including a market cap of $2.91 billion and a revenue growth of 2.28% year-over-year. This earnings call highlights the company's ongoing developments and strategic directions in the industry.WebcapitalriesgoBZERO cierra una ronda de €1,5m cubierta por Ship2B Ventures, CTL, Torribas, Impact Shakers y ViscofanThe Valencia-based startup BZERO, specializing in sustainable biomaterials and compostable bioplastics for food packaging, closed a €1.5 million seed funding round. The round was backed by venture capital firms Ship2B Ventures, CTL Investments, and Impact Shakers Ventures, along with industrial partners Torribas and Viscofan. The funds will be used to expand BZERO's industrial capacity, accelerate production of what it claims is the thinnest cost-competitive compostable film on the market, and develop pilot projects with food packaging companies.Empresas de Capital Riesgo en EspaBZERO, specialized in the development of sustainable biomaterials, closes a €1.5 million seed funding roundBZERO, a Barcelona-based biomaterials startup, closed a €1.5 million seed round, bringing total funding to €2.5 million. The capital will expand industrial production beyond 300 tonnes per year and accelerate pilot projects with food packaging companies. The company aims to scale its proprietary thermoplastic starch technology for cost-competitive compostable films.EXPANSIONLos valores con más tirón para rentabilizar el veranoSpanish financial publication EXPANSIÓN published its quarterly portfolio competition results identifying the most recommended IBEX 35 stocks for the upcoming quarter, with Iberdrola, Inditex, Amadeus, Santander, and Merlin Properties among the top picks alongside Sacyr, Indra, CaixaBank, Viscofan, and BBVA. The IBEX 35 reached a new record in July after posting its best quarter since 2020 with a 14.21% gain, while BlackRock flagged the Spanish market as its global favorite for the second half of the year. Investment firms provided fundamental and technical analysis on each stock, highlighting growth prospects, dividend yields, and strategic initiatives such as Merlin's data center expansion and Viscofan's market leadership in food casings.AInvestViscofan - to execute capital reduction by redeeming 1 mln treasury sharesViscofan has announced plans to execute a capital reduction by redeeming one million treasury shares as part of its strategy to optimize its capital structure and enhance shareholder value. The reduction will be carried out in accordance with applicable corporate governance and regulatory standards, with execution expected to be completed in the coming months subject to necessary approvals. The company, a global leader in natural and synthetic casings for the meat processing industry, stated this move aligns with its focus on long-term financial stability and operational efficiency.AInvestViscofan - waives 13 rights to issue whole number of new sharesViscofan has announced the waiver of 13 rights to issue a whole number of new shares as part of its ongoing corporate governance and capital structure management initiatives. The company has clarified that this waiver is a routine administrative measure that does not affect its existing share capital or its ability to issue new shares in the future. No further details regarding the specific terms or implications of the waived rights have been disclosed at this time.AInvestViscofan - trading period for free allocation rights ends on June 17, 2026The trading period for free allocation rights related to Viscofan concluded on June 17, 2026, as previously announced by the company. These allocation rights were part of a shareholder remuneration initiative, and shareholders who wished to exercise them were required to do so prior to this date. No further transactions related to these rights will be processed, and no additional actions are required from shareholders at this time.