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Compagnia dei Caraibi: positive performance of the On and Off-Trade channels

First consolidated financial statements from listed with double-digit growth

The board of directors of Compagnia dei Caraibi SpA benefit society, a Piedmontese company engaged in the import, development, brand building and distribution of spirits, wines and soft drinks from premium to ultra-premium and prestige, met today, approved the draft financial statements and the consolidated financial statements at 31 December 2021.

Edelberto Baracco, president and CEO of the company, declared “2021 ended positively and with growing results both in terms of revenues and margins. We are aware of the fact that these objectives take on further value because they have achieved a particularly challenging context for the market. These last 12 months have represented for us an important point in the history of this company: not only have we witnessed the consolidation of Compagnia dei Caribbean as a relevant player in the sector, but we have had the confirmation of how our business model is a solid and winning for the growth of the Group. Strengthened by the results achieved, we are ready to set new goals and build new projects. We continue our expansion on the Italian market, we look to new countries by carrying out the internationalization process and we focus on external growth that can give impetus to our business".

The consolidated revenues of the Group amounted to 42.5 million euros, up by 71% compared to 2020 (24.9 million euros) and by 74% compared to 31 December 2019 (24.4 million euros). Consolidated Ebitda stands at € 4.9 million, an increase of + 131.5% compared to the previous year where it was € 2.1 million. Therefore, margins improve, with an Ebitda Margin at 31 December 2021 equal to 11.5% (8.5% at 31 December 2020), due to the reduction in the percentage weight of fixed costs which do not require significant changes as revenues increase.

Ebit amounted to 3.8 million euros, an increase of 146% compared to 2020 (1.6 million euros), after depreciation, amortization and provisions for approximately 1 million euros (0.55 million euros at 31 December 2020), deriving mainly from the corporate change costs given by the listing process on the Euronext Growth Milan market and from investments in technological development. The Ebit Margin stood at 9.0%.

Net profit amounted to € 2.4 million, an increase of approximately 142% compared to 31 December 2020 for the company alone (€ 0.98 million), after taxes for approximately € 1.1 million (0, 53 million euros at 31 December 2020 for the company alone). The net financial position is negative (net cash) for 7.2 million euros, an improvement of approximately 11.2 million euros compared to 31 December 2020. Cash on hand is approximately 14.5 million euros.

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