Marr, sales recovering in the second half of the year
The company expects to close 2020 with revenues of over 1.07 billion Euros. Confirmed opening of the new office in Catania
Marr Spa, the Italian leading company in Italy in the sale and distribution to the foodservice of food and non-food products, registered in the second half of 2020, although affected by the restrictions on commercial activities during the last part of the year, a trend of recovery compared to the first half-year, positioning revenues for the year over 1.07 billion Euros (against 1.69 billion Euros in FY2019). In particular, in the second half of 2020, revenues reached approximately 70% of the historical 2019, recovering compared to about 60% of the first half and improving compared to the Market trend.
The third quarter contributed towards this improvement, which, at the time when the conditions allowed it, witnessed a progressive recovery in out-of-home consumption, with Marr sales in the restaurant category in September reaching and exceeding 90% compared to the historical 2019 figures, associated also to a recovery in operating marginality. The fourth quarter, which began with the first part of October in line with the third quarter, was penalised by the progressive introduction of restrictions on out-of-home food consumption activities, with only take-away and delivery allowed, culminating in the restrictions on people circulation during the Christmas festivities, which is historically the most important period of the fourth quarter for out-of-home consumption activities.
The proper management of the working capital and the safeguarding the availability of cash to deal with the current phase and support growth have ensured Marr that over 240 million Euros of liquidity was available at the end of 2020, with a net financial indebtedness similar to that at the end of 2019, which had been 196 million Euros.
From the viewpoint of the growth and the strengthening of Marr on the territory, the works for the opening of a new distribution center in Catania are at present close to being completed and its opening is expected early in the second quarter; the structure is being set up to improve the territorial coverage of eastern Sicily, and consequently to increase the level of service offered.
EFA News - European Food Agency