M. Zanetti Group (Segafredo): 2017 revenues reach one billion
Net profit at 18.1 million (+ 8%). Proposed dividend of 0.17 euros
The Board of Directors of Massimo Zanetti Beverage Group S.p.A., one of the leading brands worldwide in the production, processing and marketing of roasted coffee and other selected categories of colonial products, listed on the Milan Stock Exchange (MZB.MI), approved today the 2017 financial results.
Massimo Zanetti, the group's Chairman and Chief Executive Officer, said: “I am satisfied with the results achieved in 2017, which show an increase in revenues and profitability. Turnover rose by 4.2% thanks, in particular, to the growth in the Food Service channel (+8.1%). Moreover, the capsule segment continued to perform well (+27.3%). The strong performance of Northern Europe and Asia drove this growth and, in general, the product mix continued to improve with a composition providing greater profitability. The business trend and efficient working capital management enabled the Group to generate cash flows of over Euro 40 million, net of investments of Euro 35 million. Based on the results achieved and the positive expectations for the current year, the Board proposed the distribution of a dividend of Euro 0.17 per share.”
Revenues by channel
Revenues from the Food Service channel, which account for 22.2% of the Group’s revenues, amount to Euro 211.8 million, up by 8.1%, thanks to the strong performance recorded in all major markets. Revenues from the Mass Market channel account for 37.4% of the Group’s revenues and amount to Euro 357.5 million, up by 4.0% thanks, in particular, to the increase of premium products with a higher average selling price. Revenues from the Private Label channel account for 34.0% of the Group’s revenues and amount to Euro 325.2 million, up by +1.4%. These reflect the stable performance of the Americas and the growth of the other regions
Revenues by region
Revenues from the Americas amount to Euro 447.4 million (46.8% of the Group’s revenues), a 0.8% reduction but increasing 1.3% at constant exchange rates. The increase, at constant exchange rates, is explained by a slight decrease of the Mass Market channel while Food Service and Private Label channels are growing. Revenues from Northern Europe amount to Euro 183,8 million (19.2% of the Group’s revenues) and are up by 7.0%, with a positive performance of all channels. Revenues from Southern Europe, which accounts for 25.9% of the Group's revenues, amount to Euro 247.2 million, up by 10.0%. On a like-for-like basis, i.e., excluding Nutricafès’ impact, the performance was stable. Revenues from Asia Pacific, which also include those from the international network of cafés, amount to Euro 77.7 million, up by 10.8% (+ 11.9% at constant exchange rates).
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