Marr exceeds € 1B in turnover in the first 9 months
Activity will return to pre-pandemic levels by the end of the year
At the end of the first nine months, Marr's total consolidated revenues reached € 1,076.9 million, up compared to € 856.1 million in 2020; total revenues which had instead been 1,302.1 million in 2019.
Ebitda amounted to 71.5 million euros (33.2 million in 2020), while Ebit was 46.1 million (5.4 million in the same period of 2020).
The net result stands at 28.3 million euros (1.0 million in 2020) and is affected by non-recurring charges equal to 2.9 million euros recognized in the second quarter and relating to the early repayment, which took place on 23 July 2021, of the USPP dollar bond loan signed in July 2013.
Net financial debt as at 30 September 2021, which includes a debt of 23.3 million for the payment of dividends resolved by the Shareholders' Meeting on 6 September, stood at 134.2 million and is an improvement compared to the 186.5 million of 30 June 2021 and 216.5 million as of September 30, 2020, as well as less than the 184.7 million as of September 30, 2019.
In a note, the company of the Cremonini group specifies that "after a positive third quarter of 2021, marked by a favorable summer season supported by domestic tourist flows, it is expected that in the last quarter, with consumption returning to concentrate in the cities, the 'activity trend can be positioned at levels comparable to those of the pre-pandemic historical series and in this sense the trend in October was aligned with these expectations".
EFA News - European Food Agency