CENTRALE DEL LATTE DI TORINO & C. S.P.A.: The Board of Directors approved the consolidated results at 31 March 2012.
- Consolidated net revenue of € 26.9 million (+3% vs. € 26.1 million at 31/03/2011)
- EBITDA of € 2.1 million (vs. € 1.9 million at 31/03/2011)
- EBIT of € 653 thousand (vs. € 438 thousand at 31/03/2011)
- Pre/tax profit of € 139 thousand (vs. € 263 thousand at 31/3/2011).
The Board of Directors of Centrale del Latte di Torino & C. S.p.A. – a company listed on the STAR division of Borsa Italiana, dealing in the production and sale of fresh milk, milk products and ultra-fresh products – today approved the consolidated results at 31 March 2012.
In the first three months of 2012, the Company recorded net consolidated revenue of € 26.9 million, up 3% compared to the € 26.1 million recorded at 31/03/2011. EBITDA totalled € 2.1 million compared to € 1.9 million at 31/03/2011, EBIT stood at € 653 thousand compared to € 438 thousand at 31/03/2011and, lastly, the pre-tax profit totalled € 139 thousand compared to€ 263 thousand at 31/03/2011.
The figures above confirm the results achieved in Q4 2011, with operating costs remaining largely stable, an improvement in both gross and net profit margins and the first signs of a drop in milk raw material costs.
A closer look at the sales figures shows that the segment of turnover accounted for by fresh milk remained stable, while sales of UHT milk rose by 7% and sales of yogurt by 11%, partly as a result of the new products introduced at the Vicenza facility.
There was a 5% drop in the fresh vegetables segment, while sales of other packaged products were up 7% on Q1 2011.
The Group’s net financial position at 31 March 2012 was negative to the tune of € 33.6 million, compared to the negative figure of € -31.9 million at 31 December 2011 and € -28.6 million of 31 March 2011.
As far as the parent company Centrale del Latte di Torino is concerned, at 31/03/2012 it recorded net revenue of € 15.4 million, basically in line with € 15.5 million at 31/03/2011, whereas EBITDA totalled € 1,687 million, also in line with the € 1,651 million recorded at 31/03/2011. EBIT amounted to € 1.09 million compared to € 1.1 million of Q1 2011, while pretax profit totalled € 828 thousand compared to € 1.0 million at 31/03/2010.
As regards outlook, the combined effect of a further drop in milk raw material prices and the containing of operating costs indicate that these results are likely to be confirmed during the next quarter, although consumption of products in the food segment remains sluggish.
Pursuant to paragraph 2 of article 154-bis of the Consolidated Finance Law, the Executive in charge of drafting corporate accounts, Mr. Vittorio Vaudagnotti, stated that the accounting information herein contained tallies with the company’s documentary evidence, ledgers and accounts.
The press release is also available on the website www.barabino.it, where it may be downloaded from the “Breaking News” section.
In addition, all the documentation regarding the company (press kit, previous press releases, photographic material, etc.) is available in the section “Online Press Office” of the website.
Turin, 8 May 2012