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Marr, revenues return to 2019 levels

The BoD approves the interim management report of 31 March 2022

The board of directors of Marr SpA, a company engaged in Italy in the marketing and distribution of food and non-food products to the foodservice, today approved the interim management report as of March 31, 2022. The first quarter of 2022, which began with a month of January, still penalized by the trend in the contagion curve, saw in February and March a steady and progressive recovery of non-domestic consumption also due to the improvement in health conditions. In the face of a growth in the "hotels, meals and out-of-home" sector, the increase in total revenues of Marr, thanks also to the contribution of recent acquisitions, is positioned at around 73%.

In fact, the first quarter of 2022 closes with 325.8 million euros of total consolidated revenues, a clear improvement compared to the 188.6 million euros of the same period of 2021 which had been even more marked by the spread of infections. In particular, revenues from sales in the first quarter of 2022 amounted to 321.7 million euros and compared with 186.2 million in 2021 and 329.3 million in 2019. Sales to customers in the "Street Market" category (restaurants and hotels not belonging to groups or chains) and the "National Account" (operators of structured commercial catering and collective catering) amounted to € 268.1 million and in comparison with the 134.7 million in 2021 they benefit for approximately 12 million euros of the consolidated contribution of the Verrini Group starting from 1 April 2021. Sales to wholesalers amounted to 53.6 million euros (51.5 million in 2021).

The operating profitability of the first quarter of 2022 however shows an Ebitda of Euro 5.1 million (Euro 108 thousand in 2021). The resulting EBIT stood at -2.5 million (-7.0 million in 2021). The net result for the period stood at –2.9 million and compares with the –6.3 million of the previous year. At March 31, 2022, the commercial net working capital was equal to 216.4 million euros, a decrease compared to the 232.4 million at the end of the first quarter of 2021, despite an increase in inventories due to the anticipation of procurement policies act in view of the summer season and in the presence of inflationary dynamics.

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EFA News - European Food Agency