Context: How Bolsa de Valores de Caracas works, and what it makes issuers disclose · Venezuela on the LatAm Power Map
Venezuela’s oldest ice cream maker has survived currency collapses, political upheaval, and a decade of economic contraction — still producing Golazoo bars and Simphony tubs from its single Caracas factory, backed by the country’s most powerful food conglomerate.
| Full name | Productos EFE, S.A. (and Subsidiary) |
|---|---|
| Ticker / Exchange | EFE — Bolsa de Valores de Caracas (BVCV) |
| Headquarters | Caracas, Venezuela (Centro Empresarial Polar, Los Cortijos de Lourdes) |
| Sector | Food manufacturing — ice cream & frozen desserts |
| Employees | Not published: not disclosed in any public BVC or SUNAVAL filing reviewed |
| Shares outstanding | 700,000,000 (BCV/BVC data, 2022) |
| Market value (market cap) | VES 69.9 billion ≈ US$98.8 million (our calculation: 700M shares × VES 99.9 (US$0.14)last price ÷ 707.9193 FX) |
| Yearly sales (revenue) | Not published: see financial disclosure note below |
| Net profit | Not published: see financial disclosure note below |
| Net margin | Not published |
| Return on equity | Not published |
| Price-to-earnings | Not published |
| Dividend yield | Not published in available sources |
| Website | empresaspolar.com/en/our-brands/efe/ |
What it is
Productos EFE S.A. makes, markets, and distributes ice creams in Venezuela and runs a network of ice cream shops. It sells across nine product lines — Classic, Indulgent, Refreshing, Funny, and Institutional, among others — under brands including Pastelado, Golazoo, Super Tornado, and Simphony.
Its production sits in a single plant in the Caracas metropolitan area, supported by 12 commercial centres spread across the country. It consolidates one subsidiary, EFE Investments Corporation.
Who owns it
Empresas Polar entered the ice cream business in 1987 by acquiring Helados EFE. Alimentos Polar C.A.
— the food arm of the Polar group — was the majority shareholder with 62% of total share capital as of the most recent figure on record (September 2011 filing).
Empresas Polar officially lists Productos EFE S.A. (RIF J-00030125-5) as one of its four core operating companies. The Mendoza family controls Empresas Polar; Lorenzo Mendoza Giménez and Juan Lorenzo Mendoza Pacheco, third-generation members of the Mendoza family, took over leadership of Empresas Polar in 1992.
The exact current ownership split between Alimentos Polar C.A. and the public free float has not been updated in any BVC or SUNAVAL filing available to this profile.
Who runs it
The shareholders’ assembly approved the board of directors for the 2024–2025 period at the ordinary general meeting held on 5 December 2024. Principal directors named are Lic.
Luis Carmona, Lic. Luis Alberto Rodríguez, Dr. Rodolfo Plaz, Dr. Antonio Planchart Mendoza, and Lic.
Verónica Armas.
Not published: the BVC’s filings for EFE do not assign the titles of Chief Executive Officer or Chief Financial Officer to any individual by name; the audited annual report PDF (FY2024) is login-gated on bolsadecaracas.com and could not be opened. Venezuela’s Ley de Mercado de Valores requires listed companies to file audited annual accounts with SUNAVAL, but does not mandate that officer titles be disclosed in the public exchange notice.
The money, in plain words
Not published: the audited financial statements for the year ended 30 September 2024 — covering revenue, operating profit, net profit, total assets, and equity — were filed with the BVC on 5 December 2024 and posted as a PDF (PRODUCTOS EFE 2024.pdf), but the file sits behind a paid-subscription paywall on bolsadecaracas.com and returned a 404 on direct access. The most recent public filing is unaudited first-quarter data (October–December 2025), posted 2 February 2026 — also behind the same paywall.
SUNAVAL (sunaval.gob.ve) does not publish issuer financials on its open web pages. No third-party aggregator (MarketScreener, Simply Wall St, Yahoo Finance) carries actual revenue or earnings figures for EFE.
The market cap of roughly US$98.8 million (our calculation) is the only investable number currently in the public domain.
The share price has been volatile: market capitalisation in bolivars recently stood at VES 94.5 billion (US$133 mn), up 8% over one week — swings that are common on the Caracas exchange, where bolivar inflation and thin trading volumes can move prices sharply without any change in underlying business performance.
What it is doing now
At the December 2024 AGM, shareholders approved a modification to the company’s corporate charter — specifically Clause Three, which defines its permitted business scope (objeto social). That amendment signals the board is considering widening what the company is legally allowed to do, though the exact new wording has not been disclosed in the public BVC notice.
A labour arbitration process at EFE’s Chacao plant, requested by the factory union, concluded its deliberations in August; the arbitration panel issued its ruling, but as of the Empresas Polar statement, the award had not yet been published in Venezuela’s official gazette as required by law. Publication in the gazette is the legal step that makes the award binding and enforceable — its absence leaves the labour situation formally unresolved.
What to watch
- Full financials: The FY2025 audited accounts (year ending 30 September 2025) are due to be presented at the December 2025 AGM; shareholders were convened for 4 December 2025 to consider those consolidated financial statements. Whether BVC makes that report publicly accessible without a subscription is the key transparency test.
- Labour settlement: The outcome of the Chacao plant arbitration — once gazetted — will set wages and working conditions and could affect production capacity directly.
- Charter amendment: The broadened objeto social approved in December 2024 may foreshadow product diversification or a structural change within the Polar group. Watch for further filings.
- Bolivar risk: EFE’s revenues are bolivar-denominated in a country where the currency can lose value faster than a company can adjust prices; any investor measuring returns in dollars must track the VES/USD rate alongside the share price.
Sources
- Bolsa de Valores de Caracas — EFE issuer page and AGM results (December 2024): bolsadecaracas.com — AGM Results Dec 2024
- Bolsa de Valores de Caracas — Audited financial statements notice (FY2024): bolsadecaracas.com — Estados Financieros Sep 2024
- Bolsa de Valores de Caracas — Q1 FY2026 unaudited filing notice: bolsadecaracas.com — Q1 Dec 2025
- Bolsa de Valores de Caracas — AGM convocation Dec 2025 (World Trading): wtcasadebolsa.com — Convocatoria Dec 2025
- Empresas Polar — Brand page and corporate group definition: empresaspolar.com/en/our-brands/efe/
- Empresas Polar — Labour arbitration statement: empresaspolar.com — Laudo arbitral
- Banco Central de Venezuela / BCV academic paper on Caracas exchange listings (share count and price data, 2022): bcv.org.ve
- Market data: EODHD (no financials available for EFE); live price and share count verified via BVC market summary and BCV publication.
This is news, not investment advice.
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