CENTRALE DEL LATTE DI TORINO & C. S.P.A.: The Board of Directors approves the quarterly report as at 31 March 2015:
- Consolidated net revenue of € 24.4 million (compared to € 25.9 million at 31/03/14)
- EBITDA of € 1.9 million (compared to € 1.3 million at 31/03/14)
- EBIT of € 1 million (compared to € 402 thousand at 31/03/14)
- Pre-tax profit of € 879 thousand (vs. pre-tax profit of € 212 thousand at 31/03/14)
- Net financial position of € -17 million (compared to -21.5 million at 31/03/14)
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 pro duction and sale of fresh milk, milk products and ultra-fresh products – was held in Turin before the Meeting chaired by Mr. Luigi Luzzati to approve the results at 31 March 2015.
The first quarter of the year, in spite of a slight fall in consolidated revenue due to a further drop in food consumption registered in Italy in the early months of this year, ended for Centrale del Latte di Torino Group with a significant increase in gross and net profit margins, partly thanks to the situation of raw material prices, as well as a further improvement in the net financial position.
At 31 March 2015, the Group recorded consolidated net revenue of € 24.4 million, compared to € 25.9 million at 31/03/2014; EBITDA reached € 1.9 million, compared to the € 1.3 million of 31/03/2014; EBIT stood at € 1 million, compared to € 402 thousand at 31 March 2014. Pre-tax profits also considerably increased too, reaching € 879 thousand at 31 March 2015, compared to the € 212 thousand at 31 March 2014.
The Group’s net financial position continued to improve; at 31 March 2015, it was negative to the tune of € 17 million, compared to the negative figure of € 17.1 million of 31 December 2014 and the negative figure of € 21.5 million of 31 March 2014.
As regards the parent company Centrale del Latte di Torino & C. spa, at 31 March 2015 the company recorded net revenue of € 18.7 million, compared with € 19.6 million at 31 March 2014; EBITDA stood at € 1.7 million, compared to the € 1.1 million of 31/03/2014; EBIT stood at € 1.1 million, compared to € 618 thousand in Q1 2014. Lastly, pre-tax profit totalled € 1 million, compared to the € 535 thousand recorded at 31/03/2014.
As regards forecasts, the economic recovery expected in the second half of the year and the consequent upturn in consumption, together with the stabilisation of raw material prices, should allow the Group to maintain profit margins at the current levels.
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 se ction “Online Press Office” of the website.