CENTRALE DEL LATTE DI TORINO & C. S.P.A.: The Board of Directors approved the consolidated results at 30 September 2012:
- Consolidated net revenue of 76.3 million (+0.1 vs. 76.2 million at 30/09/2011)
- EBITDA of 5.1 million (+20% vs. 4.2 million at 30/09/2011)
- EBIT of 888 thousand (vs. -38 thousand at 30/09/2011)
- Negative net result of -1 million (vs. -1.1 million at 30/09/2011) largely due to employee severance indemnity discounting charges.
The Board of Directors 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 consolidated results at 30 September 2012.
In the third quarter of 2012, Centrale del Latte di Torino Group, in a socio-economic scenario characterised by a deepening recession and a drop in food consumption, recorded consolidated net revenue that remained substantially stable, rising from € 76.2 million at 30/9/2011 to € 76.3 million at 30/9/2012 (+0.1%), with a market share that held up well.
As regards profit margins, the Group recorded an improvement, with EBITDA rising from € 4.2 million at 30/9/2011 to € 5.1 million at 30/9/2012 and EBIT rising from € -38 thousand at 30/9/2011 to € 888
thousand at 30/9/2012, while the net result (which went from € -1.1 million at 30/9/2011 to a consolidated loss of € 1 million at 30/9/2012) was largely due to employee severance indemnity discounting charges amounting to over € 750 thousand.
The Group’s net financial position at 30 September 2012 was negative to the tune of € 27.1 million, although it was an improvement compared to the negative figures of € -31.9 million at 31 December
2011 and € -29.1 million of 30 September 2011. Forecasts indicate that in a scenario characterised by a persistently difficult situation in terms of food consumption, a turnaround in milk raw material prices, greater competitive pressure and an increase in administrative costs deriving from the application of new regulations, the profit margins for the last quarter of the year should be in line with those achieved at 30/9/2012.
The Board has also co-opted a new member, Mr. Maurizio Macchiavello, who holds the position of Managing Director of the subsidiary Centro Latte Rapallo S.p.A.
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
Roberto Stasio
e-mail:r.stasio@barabino.it
Tel. 010.272.50.48
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, 06 November 2012