Newlat Food, less revenues but more profits in the quarter
Improve margins thanks to economies of scale in procurement
Newlat Food, a company listed on the Star segment and active in the agro-food sector, closed the first quarter of 2021, a period that closed with revenues of 121.46 million euros, down by 4.6% compared to the 127.32 million obtained in the first three months of last year with the same consolidation perimeter. EBITDA also decreased from 11.25 million to 11.04 million euro (-2%). However, margins improved from 8.8% to 9.1% thanks to the group's ability to generate economies of scale in procurement. The company achieved a net profit of 3.16 million euros, an increase compared to the 2.31 million recorded in the first three months of 2020 (+ 36.8%).
The management of Newlat Food believes, on the basis of the information available, to exclude significant impacts attributable to Covid-19 and the full achievement of the objectives set for 2021.
EFA News - European Food Agency