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Marr: record dividend confirmed

Assembly approves budget, breaking through the wall of € 2B in turnover

Today the shareholders' meeting of Marr, a leading company in Italy in the marketing and distribution of food and non-food products to the foodservice sector, approved the financial statements as of 31 December 2023. The Marr Group closes the 2023 financial year with Total Consolidated Revenues at 2,085.5 million euros with a growth of 155.0 million compared to 1,930.5 million in 2022.

Operating profitability is recovering with the consolidated Ebitda for the 2023 financial year which stands at 123.1 million euros (82.1 million in 2022) and the Ebit which is equal to 84.9 million (46.2 million in 2022).

The consolidated net result is 47.1 million euros and in comparison with the 26.6 million of 2022 is affected by higher net financial charges of 9.7 million due to the increase in the cost of money starting from the second half of 2022 .

The Commercial Net Working Capital (NCC) at 31 December 2023 amounted to 170.6 million euros and is positioned at levels similar to those of the previous financial year (169.1 million at 31 December 2022) with a consequent improvement in the incidence of Ccn on total revenues, the increase of which is 155.0 million.

Net financial debt at 31 December 2023 is 223.4 million euros and compares with 217.6 million in 2022. Net of the effects of the application of the accounting standard Ifrs 16, the net financial position at the end of financial year 2023 stands at 141.8 million and compared to 138.3 million on 31 December 2022, it is affected by net investments of 26.6 million, of which 17.4 million relating to the new distribution center in Lombardy whose activation is expected from the second quarter of 2024 .

Today's shareholders' meeting resolved the distribution of a gross dividend of 0.60 euros, the highest since the 2005 listing (0.38 euros the previous year) to be paid on 22 May. The undistributed profit, the amount of which will be determined based on the treasury shares in portfolio upon distribution of the coupon, is set aside as a reserve.

The sustainability report of the Marr Group as at 31 December 2023 was presented to the shareholders' meeting, which also takes on the value of a consolidated statement of a non-financial nature drawn up pursuant to Legislative Decree 254/2016, already examined and approved by the Board of Directors on 13 March 2024.

"Expectations - explains a company note - for the trend of away-from-home food consumption in Italy for the year 2024 are positive, thanks also to the contribution of tourism; the next long weekends of 25 April and 1 May will be able to provide more feedback regarding the start of the tourist season".

In recent days, the operational activities of the Marr Lombardia branch have started according to plan, a new structure of 14 thousand square meters located in Bottanuco (Bergamo), which strengthens the group's presence in Lombardy, the first Italian region in terms of value. of food consumption outside the home (read EFA News ).

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EFA News - European Food Agency