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Marr returns to profit in the semester

And announces extraordinary dividend in October

Marr, the absolute leader in Italy in food distribution to bars, restaurants, pizzerias, hotels, etc., closed the first half of 2021 with total revenues of 542.0 million euros (447.1 million in the first half of 2020), with a second quarter at € 353.3 million (respectively € 185.3 million in the same period of 2020 and € 459.6 million in 2019). The gross operating margin stood at 23.2 million (0.5 million in the first half of 2020) with a second quarter of 23.1 million (respectively, in the same period, -3 million in 2020 and 39 million in 2019).

The last row is back in black, with a net profit of 1.1 million after 0.5 million in taxes. The first half of 2020 showed a loss, before tax, of 19 million. The second quarter of 2021 alone closed with a net profit of 7.5 million (after 2.5 million in taxes) compared to a result, in the same period, of -10 million in 2020 and 21 million in 2019.

The Cremonini group company has announced the return of the dividend. "Today's Board of Directors - explains a note - having acknowledged the results achieved in the first half and the positive trend of the market scenario, has decided to call a Shareholders' Meeting for 6 September 2021 proposing the payment of a gross dividend equal to 0.35 euros per share. The resources for the payment of this dividend, scheduled for the month of October, will be drawn from the available reserves which were amply increased following the result for the year 2019 (approximately 64.3 million net profit) entirely and prudently allocated to the Extraordinary Reserve due to the beginning of the spread of the pandemic".

hef - 20365

EFA News - European Food Agency