• Revenues: € 71.3 million (+5.8% vs. € 67.5 million at 31.03.2021)
• EBITDA: € 6.3 million (-8.1% vs. € 6.9 million at 31.03.2021)
• Net profit: € 1.5 million (-14.3% vs. € 1.76 million at 31.03.2021)
• Net financial debt (before IFRS 16) equal to € -66.1 million, compared to € -42.2 million at the end of 2021

Turin, 13 May 2022 – The Board of Directors of Centrale del Latte d’Italia S.p.A. (“CLI” or the “Company“) –  the third Italian operator in the fresh and long-life milk market, listed on the STAR segment of the Italian Stock Exchange – which met today, under the chairmanship of Angelo Mastrolia, approved the results as at 31 March 2022.

The Company recorded revenues of € 71.3 million in the first quarter of 2022, compared to € 67.5 million in the same period of 2021, with a growth of + 5.8% year on year.

EBITDA as at 31 March 2022 amounted to € 6.3 million, with a decrease of 8.1% compared to the figure recorded in the first quarter of last year, equal to € 6.9 million. The EBITDA margin of 8.9% was down compared to the EBITDA margin reported in the first quarter of 2021.

EBIT in the first quarter of 2022 is equal to € 2.5 million, compared to € 2.9 million recorded in the same period of the previous year.

CLI recorded, as a pre-tax result, € 2.1 million, compared to € 2.5 million in the first quarter of last year.

Net profit was € 1.5 million, with a margin of 2.1%, compared to 2.6% reported in the first quarter of 2021.

The decrease in margins is attributable to the drastic spike in all production cost components, which the Company promptly passed on to its customers in compliance with the contractual notice terms. These terms allowed the Company to obtain the full application of the new price lists only at the end of the quarter. Consequently, starting from the second quarter of 2022, the Company has fully recovered the major costs it had incurred due to the widespread increases in raw materials, energy and other production costs.

The net financial position, before the application of the IFRS16 accounting standard, was equal to € -66.1 million, compared to € -42.2 million at the end of 2021.

Including the effects of IFRS 16, mainly related to the lease of the Milk&Dairy business unit from Newlat Food S.p.A., the Company’s net financial position went from € -52.7 million at 31 December 2021 to € -75.1 million at 31 March 2022.

The Centrale del Latte d’Italia Group and Newlat Food, majority shareholder since 1 April 2020, today represent the third Italian operator in the Milk & Dairy sector.

Newlat Food is a successful industrial Group, leader in the agri-food sector, present in 60 countries with dairy products, pasta and bakery, gluten-free products and baby food.

With 7 factories and circa 650 employees, Centrale del Latte d’Italia Group produces and sells more than 120 products, ranging from milk and milk products to yogurt and drinks of plant origin and dairy distributed by traditional shops and large retail chains in the pertinent areas under several brands names TappoRosso, Polenghi, Mukki, Tigullio, Vicenza, Giglio, Salerno, Matese, Ala, Torre in Pietra, Optimus, Fior di Salento.

FOR FURTHER INFORMATION:

Investors

Fabio Fazzari
CLI Investor Relator
fabio.fazzari@newlat.com
Mob.: +393346801664

Roberto Stasio
Barabino & Partners
Ph. +39 010/2725048
Mob. +39 3355332483
Email r.stasio@barabino.it

Alice Brambilla
Barabino & Partners
Ph. +39 02 72023535
Mob. +39 3282668196
Email a.brambilla@barabino.it