Valsoia: revenues up in the 1st quarter (+ 15%)
Sales abroad also increased (+ 14%)
In the first quarter of 2021 Valsoia recorded sales revenues of € 20.58 million compared to € 17.86 million in the same period of 2020 (+ 15.2%). A note from the Bolognese company explains that "the improvement in distribution coverage, the growth in the number of families involved supported by continuous and important investments in" consumer marketing "and ADV, are the basis of the increase in revenues, together with the excellent start in management of the Piadina Loriana". The revenues of “Valsoia Bontà e Salute” and of the entire food Division are growing, with particular emphasis on the Diete brand. Tic. Jams (Santa Rosa) are holding back, which during the first 2020 lockdown had benefited most from the growth in consumption and stocks in the family. Particularly significant is the growth of the markets in plant alternatives. "In this context - specifies the company - the preference given by consumers to the" Valsoia Bontà e Salute "brand and to other specialist brands, to the detriment of followers, appears clear. In line with the plans, the trend of the growing distribution of the new Valsoia brand line of plant food supplements. The start of the distribution of Oreo O's branded cereals was also positive".
Finally, foreign sales are still in excellent growth, showing in the quarter revenues increased by + 13.9% compared to the same period of the previous year. The Net Financial Position, on March 31, 2021, was positive for € 19.6 million, a decrease compared to the corresponding period of the previous year (€ 25.1 million at March 31, 2020) in consideration of the cash outflow of approximately € 13.0 million for the acquisition of Piadina Loriana. Net of the effect of the application of IFRS16 at March 31, 2021, the NFP is equal to € 21.4 million.
"I express satisfaction with the results of this first quarter which has seen us committed to protecting the health and safety of our collaborators", said the president Lorenzo Sassoli de Bianchi. "We have improved the revenues of all our brands despite the comparison with the initial part of the lockdown, March 2020, which saw stocks in the Family and at Retailers grow significantly. In these first months of 2021, we have also presented numerous innovations in the health sector to the market and successfully launched the management of Piadina Loriana. Sales abroad give us satisfaction by continuing their growth and stimulating us to speed up the internationalization process of our Company".
EFA News - European Food Agency