Newlat Food: Consolidated aggregate Net Profit 2019 of € 10.2 million (+71%)
Ebitda and Net Profit for the year showed a better performance than foreseen in the Business Plan
The Board of Directors of Newlat Food S.p.A. approved the consolidated aggregate preliminary data for the year ended 31 December 2019. Newlat Food recorded consolidated aggregate revenues of € 320.9 million, in line with the expectations indicated in the Business Plan and with an increase of 4.9% versus the 2018 aggregate figures. Aggregate Ebitda amounted to € 28.3 million compared to € 24.2 million in 2018, up 17% and with an incidence on revenues of 8.8% compared to 8.3% in 2018. The normalized Ebitda was equal to € 28.6 million compared to € 26.9 million, an increase of 5.98% compared to the previous year and with a margin of 8.8% compared to 8.3%.
The Company's Net Profit was equal to € 10.2 million compared to € 5.9 million in 2018 and therefore marking an increase of 71%. Ebitda and Net Profit for the year showed a better performance than foreseen in the Business Plan. The increase in Ebitda and Net Profit was particularly due to an optimization of costs and a maintenance of lower promotional pressure thanks to the recognition and strength of all the Group's brands, which maintained their market shares.
Angelo Mastrolia, Chairman of Newlat Food, commented: “We are very satisfied with the Group's performance in 2019. Despite a slowdown in industrial production in Italy and Germany, markets for us core, we have managed to consolidate our positions and perform better than the market, exceeding the closing forecasts for the year 2019 that were foreseen in the Business Plan. With a Net Profit of € 10.2 million and an aggregate Ebitda of € 28.3 million, we have achieved a significant increase in margins in a market with deflationary trends, thanks to the increase in sales in the segments with high added value and a careful cost structure optimization policy. In the first month of 2020, aggregate sales figures confirm once again our ability to outperform the market, consolidating growth in volumes in the business lines with the highest added value (Bakery, Dairy, Special Products)”.
EFA News - European Food Agency