CENTRALE DEL LATTE DI TORINO & C. S.P.A.: The Shareholders’ Meeting approved the 2012 financial statements, with the allocation of a dividend of € 0.02 per share. Maurizio Macchiavello was confirmed as Member of the Board of Directors.

The Shareholders’ Meeting of Centrale del Latte di Torino – 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 financial statements for FY2012.

At 31/12/2012 the CLT Group recorded net consolidated revenue for € 103.22 million, in line with € 103.35 million of the previous FY. Despite the difficult socio-economic situation, as a result of which household spending has fallen dramatically even in the food segment, and particularly with regard to branded products, the CLT Group succeeded in keeping sales stable, thanks to the reputation and strength of its own brands.

At 31/12/2012 EBITDA equalled € 6.6 million compared to € 6.5 million of the previous FY (€ 7.1 million without extraordinary items), whereas EBIT stood at € 418 thousand at 31/12/2012 (€ 1.2 million without extraordinary items) compared to € 592 thousand at 31/12/2011. FY2012 closed with a net loss of € 1.09 million, in line with the negative net result of € 1.02 million recorded at 31/12/2011, after income taxes for more than € 1 million and after amortisation, depreciation, accruals and write-downs for € 6.2 million.

A capital loss of € 160 thousand was recorded in the consolidated financial statements further to the handing over of a portion of land free of charge to the Municipality of Vicenza for the completion of the urban traffic system near the factory of the subsidiary Centrale di Vicenza, while financial charges included the charges to discount severance indemnity for € 658 thousand, but also lower taxes for IRES refunds on IRAP applied to personnel costs from 2007 to 2011, for € 548 thousand.

The net financial position at 31/12/2012 was negative for € 25.3 million, but considerably up compared to € -31.9 million at 31/12/2011.

As regards the results of the parent company Centrale del Latte di Torino & C. S.p.A., net revenue at 31 December 2012 equalled € 57.4 million, compared to € 59.3 million at 31/12/2011. EBITDA rose to € 4.8 million at 31/12/2012 compared to € 4.5 million at
31/12/2011, whereas EBIT at 31/12/2012 stood at € 2.37 million, in line with € 2.32 million of the previous FY.

Further to the € 1.1 million write-down in the subsidiary Centrale del latte di Vicenza and allocations to risks for € 329 thousand, the net result at 31/12/2012 was negative for € 129 thousand, compared to the net profit of € 281 thousand at 31/12/2011. The parent company’s net financial position was negative for € 11 million, considerably up compared to € 16.8 million at the end of 2011.

Furthermore, the Meeting approved the allocation of a dividend of € 0.02 per share, payable starting from 16 May 2013, ex-dividend date: 13 May 2013.
Lastly, the Shareholders’ Meeting confirmed Mr. Maurizio Macchiavello as Member of the Board of Directors.

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.

Contacts:
Barabino & Partners
Donata Astengo
Tel. 010.272.50.48
Mob. 349.77.25.787
e-mail: d.astengo@barabino.it

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, 24 April 2013