Marr, 9M results give the boost to the investment plan
Revenues to 1,62 billion euros: new logistic hub in Lombardy, Lazio and Puglia
At the end of the first nine months of 2023, Marr, a leading company in Italy in the marketing and distribution of food and non-food products to foodservice, recorded consolidated total revenues of 1.62 billion Euro, up from 1.2 billion49 billion in the same period 2022. The improvement in operating profitability was confirmed with ebitda of 99.7 million Euro, up from 67.5 million Euro in 2022: net profit stood at 40.5 million Euro, almost double that of 24.7 million Euro in 2022.
All numbers that give new life to the advance of the Plan of investments of the society of the Cremonini group, "oriented to support and to strengthen the organic increase in the medium/along term and to increase the efficiency of the logistic network. The Investment Plan announced in October 2021 provided for the period 2021-2024 a total capex, including the maintenance component, of 170 million Euro, of which 43.6 million already supported by the year 2021: now, as at 30 september 2023, expects to complete investments of approximately 185 million Euro".
The plan, therefore, continues with the construction of the new distribution center of Bottanuco (Bergamo), intended to increase the presence in the Lombardy region, which is the first in Italy for the value of food consumption outside the home. the beginning of the distribution activities from the new unit, a modern structure of beyond 14 thousand square metres, is attended for the first half of 2024 and the total investment is previewed in the order of approximately 28 million Euros, of which 21 million have already been made at 30 September 2023.
The Plan also provides for the construction from 2024, again in Lombardy but this time in Ospedaletto Lodigiano (Lodi), a new structure of about 40 thousand square meters and whose works are expected to be completed in 2026. " This unit -underlines the statement of Marr- is intended to serve as a primary storage and distribution platform for subsidiaries, as well as a distribution center dedicated to customers of the National Account (operators of structured commercial catering and collective catering) and sees the introduction of an innovative and high level of automation in the activities of Stocking and handling of frozen products".
Another step of the efficiency measures is that which provides for the lease by Marr of a new platform in Lazio of over 30 thousand square meters, "through which -adds the note-, it will be proceeded to the rimodulazione and potenziamento of the logistic activities in the Lazio, in which the society is today present with three units (a logistic platform and two distributive centers)". Work on the construction of this new platform has started in recent weeks and is expected to be completed in 2024, with the start of operations by early 2025.
Within the framework of the interventions aimed at the renewal and strengthening of distribution centers, always for 2024 "the construction of a new distribution center in Puglia in Monopoli (Bari) is expected to be completed, whose activation is expected in the first part of 2025"the new unit, of approximately 9 thousand square metres, will be taken in lease from Marr in substitution of that existing one and will have an adapted operating ability to pick the opportunities of development of a territory to strong tourist vocation.
The Plan investments, that it will go to support the organic increase in the medium and along period with an adaptation of the operating ability, is attended can produce benefits in terms of strengthening of the organic increase and logistic-distributive efficientamento
The main consolidated results for the third quarter of 2023 show total revenues of 623.2 million Euro and strengthen growth in the same period of 2022 in which 620.7 million Euro (509.1 million Euro in 2019, pre-pandemia) were achieved. The improvement in operating profitability continued in the third quarter of 2023 with consolidated gross operating margin of 46.3 million Euro (32.4 million Euro in 2022 and 47.3 million Euro in 2019). Consolidated net income for the third quarter was 21.9 million Euro: "compared to 14.2 million Euro in 2022, underlines the Cremonini Group’s press release, which is affected by higher financial charges as a result of the increase in the cost of money from the second half of 2022".
EFA News - European Food Agency