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Pietro Coricelli: turnover at +49% in 2022

The olive oil company also publishes its first sustainability report

Provide a complete description of the sustainable development strategy adopted, trying to represent in the most complete way not only the financial performances but also those in the Environment, Social & Governance (ESG) area: this is the objective of the first Integrated Report (referring to the financial year 2022) of Pietro Coricelli spa, an Umbrian oil company.

A pioneering vision that of the Spoleto company that has led it to be the first oil industry to present an integrated ESG Report and to become a virtuous example of transparency towards all stakeholders in the sector. The family business was founded in 1939 and has been led since 2018 by Chiara Coricelli (photo), CEO and president who, together with her brothers, wants to pass on the inherited values to future generations: respect, community, transparency and quality. Under his leadership, the company accelerates its drive towards a path of sustainable growth which becomes the fundamental driver for guaranteeing the creation of added value.

Pietro Coricelli, in constant growth and with a presence in 110 countries around the world, goes from a turnover of 116 million in 2018 to revenues exceeding 244 million euros in 2022, marking a +49% compared to 2021 thanks also to a significant increase in sales volumes (56.6 million liters vs 44.5 million liters in the previous year). Furthermore, the distributed economic value increased, marking +50% compared to the previous year. Exports, on the other hand, reach 58%. The company's growth is also reflected on the national front: Coricelli grows by 3.7%, in a sector that of the oil sector is declining (-6% compared to the previous year) while the market share reaches 8.6% (one point more compared to 2021).

“Recent years have been characterized by great global upheavals and uncertainty, but every difficulty also brings with it a challenge and we wanted to take it up to try to be better and more transparent. We have decided to open the doors of our company through the first Esg Integrated Report, an unnecessary but strongly felt act to tell in a precise and timely way how much sustainability is a challenge and a concrete commitment. Our sensitivity and responsibility leads us to be inspired by large companies and this vision has allowed us to achieve extraordinary results in the last year. Not only an important growth in turnover, despite a difficult economic scenario, but we have achieved leadership for our 100% Italian oils. At the same time, our commitment to the community has allowed us to exceed 60,000kg of donated products. At the heart of our vision remains the project "Sustainable Oil Supply Chain which seals our commitment to the transparency of the origin, the quality of the product, the economic sustainability of the olive growers upstream of the supply chain", explains Chiara Coricelli .

Among the significant highlights of Pietro Coricelli's ESG report, there is the "Sustainable Oil Supply Chain" project, born in 2019 with the first line of Casa Coricelli traceable products, which was subsequently expanded with the application of the Blockchain technology of Ibm Food Trust. A process that continued in 2021 with the signing of the first supply chain contract for Made in Italy oil between the oil company and three Apulian producers affiliated with Unaprol (Italian Olive Consortium). A three-year contract, for a quantity of 2 million kilos, signed to protect and enhance Italian extra virgin olive oil and to reward the work of olive growers by guaranteeing them economic sustainability thanks to an additional bonus compared to the values of the commodity exchanges . Thanks to this agreement, the first Pietro Coricelli oil “Signed by Italian farmers” arrives on the market in 2022.

On the environmental front, on the other hand, the 22 hectares of olive groves (about 22,000 plants) help offset part of the CO2 emissions produced by the company's business: 44t CO2 per day which are transformed into about 16,000 tons per year. The use of consumables decreased by 11%, recycled glass is equal to 68% of the total use while the use of recycled paper/cardboard reaches 81% of the total. Furthermore, the consumption of fresh water decreased by 53% compared to the previous year. The presence of three cogeneration engines that produce electricity allows Coricelli to contribute to the percentage of renewable energy present on the public network.

Finally, as regards attention to people, 16 new people were hired, reaching a workforce of 84 in 2022, in 82% of cases with permanent contracts and an average age of 41. In 2022, over 1,800 hours of training were provided, around 22 hours per employee, up 47% compared to 2021. Health coverage, production bonuses and nursery contributions for new mothers and fathers are also provided. Pink parking spaces are also available for new and expectant mothers.

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