The Board of Directors of Newlat Food SpA, meeting under the chairmanship of Angelo Mastrolia , examined and approved the Interim Management Report at 31 March 2025. The company's consolidated revenues in the first quarter of 2025 amounted to €672.7 million, slightly down compared to the combined result of the first quarter of 2024, equal to €699.9 million, with the same consolidation scope.

"This dynamic reflects the adjustment of sales prices in a deflationary market context, largely offset by a significant improvement in the cost of goods sold, driven by a 6% reduction in raw material costs", reads a note. Net of extraordinary items, consolidated Adj. Ebitda amounted to €54.8 million, up +30.5% compared to €42 million in the first quarter of 2024, on a like-for-like basis. In terms of Adj. Ebitda margin, a strong increase was recorded, going from 6% in the first quarter of 2024 to 8.2% at the end of March 2025.

The company's consolidated Ebitda amounted to €52.7 million, up +62.5% compared to the first three months of 2024. In terms of Ebitda margin, a significant increase was recorded, going from 4.6% to 7.8%. The consolidated operating result (Ebit) amounted to €28.9 million, a strong increase of +392%, compared to €5.9 million in the first quarter of 2024, with the same consolidation perimeter.

The consolidated net result is equal to Euro 13.5 million, a sharp increase compared to the loss of Euro -2.2 million recorded in the first quarter of 2024, on a like-for-like basis of consolidation. The net financial position went from Euro -346.2 million at 31 December 2024, to Euro -302 million at 31 March 2025, thanks to the Group's ability to generate cash from operating activities to the improvement of the working capital of the Princes Limited Group. The Underlying Free Cash Flow reaches Euro 45 million, confirming the Group's excellent ability to convert Ebitda into cash flows.

“The first quarter of 2025 represents a key milestone in the Group’s growth journey, marking the first period in which Princes Limited has been fully consolidated since the beginning of the financial year,” commented M astrolia . “The results achieved confirm the effectiveness of our strategic choices and the solidity of our operating model, with significant growth in margins, net profitability and cash generation. The integration of Princes was completed extremely quickly, allowing us to activate concrete synergies right from the start. This puts us in a position to decisively accelerate our development roadmap, strengthening the Group’s positioning on international markets and creating sustainable value for all stakeholders.”