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Marr: 2021 total revenues up to over 1,456 million euros

Net profit of € 35.1 million and a dividend of € 0.47

The board of directors of Marr SpA, a company among the leaders in Italy in the marketing and distribution of food products to the foodservice, approved the consolidated financial statements, the sustainability report and the draft financial statements for 2021, which will be submitted to the shareholders' meeting called for next April 28th. The 2021 financial year of the Group closed with total consolidated revenues of 1,456.3 million euros, a strong increase compared to the 1,073.7 million in 2020.

The gross operating margin (Ebitda) and the operating result (Ebit) for the year also made clear progress, respectively amounting to 90.5 million euros (39.4 million in 2020) and 57.6 million euros (2, 8 million in 2020). The net result for the year amounted to € 35.1 million (-2.4 million in 2020) and was affected by non-recurring charges of € 2.9 million recognized in the first half and relating to the early repayment (on 23 July 2021) for a net equivalent value of approximately 25 million euros of the Uspp dollar bond loan signed in July 2013.

The net commercial working capital at 31 December 2021 was € 140.2 million, down from the 198.8 million at the end of 2020. The net financial position stood at € 141.4 million (192, 3 million at the end of 2020). Cash generation for the year (Free Cash Flow) net of the change in the payable for IFRS 16 (-30.5 million) and after the distribution last October of 23.3 million euros of dividends is equal to 81.4 million euros. Consolidated shareholders' equity amounted to € 349.5 million (€ 338.1 million at the end of 2020).

The board of directors proposed to the shareholders' meeting on 28 April the distribution of a gross dividend of 0.47 euros (against a consolidated EPS of 0.53 euros) with "ex-dividend" (17) on May 23, record date May 24 and payment on May 25.

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EFA News - European Food Agency
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