It does not receive public funding
Editor in chief:

Facebook Twitter Youtube Instagram LinkedIn

Caffè Borbone leads the positive trend of Italmobiliare

Revenues at 51.5 million, up 27% in the 3rd quarter; 155.8 + 23% in the first nine months

The board of directors of Italmobiliare SpA approved the additional periodic financial information as at 30 September 2020. During the first nine months of the year, also in light of an overall positive trend in the third quarter, the equity investment portfolio demonstrated a balancing able to face a particularly critical phase of the economic situation such as the current one.

In particular, the performance of Caffè Borbone was very positive, with revenues for the third quarter up by 27% compared to 2019 and a gross operating margin for the first nine months of 2020 already higher than the result achieved in the whole of 2019, and from Sirap Group, with a gross operating margin in clear improvement. In the report delivered to the press, Italmobiliare specifies that also in the third quarter, Caffè Borbone confirms its growth trajectory, with revenues of Euro 51.7 million, 27% higher than in the same period of 2019; the total for the first nine months stood at 155.8 million euros, up 23% compared to 2019.

At the channel level, the progression of online sales and through large-scale distribution continues, while specialized resales remain the main channel with a growth rate substantially in line with the average. In the quarter, the gross operating margin amounted to 18.1 million euros, 38% higher than in the same period of 2019; the total for the first nine months reaches 52.4 million euros, thus exceeding the gross operating margin achieved in the full year of 2019 (equal to 52.0 million euros). The operating result in the first nine months of 2020 amounts to 45.5 million euros (29.2% of turnover). The net financial position at 30 September 2020 was negative for 22.3 million euros, worsening compared to 30 June 2020 due to the payment of dividends for 20.0 million euros in the quarter; gross of dividend payments, positive cash generation in the first nine months of € 29.3 million.

In addition to the data from the Caivano roasting company, there is an increase in the Mol of Tecnica Group mainly thanks to the acquisition of Riko, a stable Mol for Capitelli and the energy sector, while Iseo and Officina Santa Maria Novella are lagging behind 2019 as a consequence of Covid emergency.
At 30 September 2020 the net financial position of Italmobiliare SpA, positive for 389.3 million euros, decreased by 180.3 million euros compared to 31 December 2019. The price of the Italmobiliare share, admitted on 24 September 2019 at Star segment of the Stock Exchange, from the beginning of the year to the end of September recorded an increase of 22.15%, compared to 0.96% in the Ftse Italia Star index.

hef - 14622

EFA News - European Food Agency