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Marr approves the results of the first half of 2019

Total revenues at 793.0 million Euros (782.6 million in HY2018)

The Board of Directors of Marr Spa, a company of the Cremonini group, leader in Italy in the foodservice sector, approved the half-year financial report at June 30, 2019. Total revenues for the first half amounted to 793.0 million euros compared to 782.6 million in 2018. Ebitda and Ebit after the application of the IFRS 16 accounting standard amounted to 56.3 and 42.0 million euros. The effects of IFRS 16 in the first half of 2019 amounted to +4.5 million euros on EBITDA and +0.4 million on EBIT. In the first half of 2018 EBITDA and EBIT, which did not discount the effects of IFRS 16, were equal to EUR 52.7 and 42.7 million. 

The net result for the period reached € 27.8 million (-2.8% y / y) with an effect of IFRS 16 equal to - € 0.4 million. The net result for the first half of 2018 was € 28.6 million. Net financial debt, which was affected by the application of IFRS 16 of a higher debt of 56.3 million euros, amounted to 211.2 million euros, compared with 173.3 million on 30 June 2018 , which did not discount the effects of IFRS 16. 

In the main segment of the "Street Market" (restaurants and hotels not belonging to Groups or Chains) sales in the first six months reached € 513.7 million (€ 502.1 million in 2018). Sales of the "National Account" (operators of structured commercial catering and catering) in the first half amounted to 150.4 million euros (156.3 million in 2018), while those in the second quarter were 75, 5 million euros (78.9 million in 2018). Finally, sales to customers in the "Wholesale" category (wholesalers) in the half amounted to € 115.6 million (€ 112.0 million in 2018), while in the second quarter they stood at € 59.6 million compared to 55.8 million in 2018.

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EFA News - European Food Agency