Turin, 11 November 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 30 September 2022.

The Company recorded revenues of € 223.3 million in the third quarter of 2022, compared to € 207.6 million in the same period of 2021. Strong growth recorded in the third quarter of the year, in particular in the Milk segment: +8.4% versus +0.2% in the second quarter of the year.

EBITDA as at 30 September 2022 amounted to € 17.9 million, compared to € 19.9 million as at 30 September 2021. EBITDA margin was 8.04%, slightly lower than 9.57% EBITDA margin reported in the third quarter of 2021. This result appears more relevant if we consider the inflationary effects occurring in the market. Nonetheless, Centrale del Latte d’Italia was able to record an increase of +7.5% in EBITDA in the third quarter as compared to the second quarter of the year 2022.

EBIT as at 30 September 2022 was equal to € 4.3 million, compared to € 8 million recorded in the same period of the previous year.

EBT was € 3.1 million, compared to € 6.5 million in the third quarter of last year.

Net profit was equal to € 2.2 million, a decrease compared to 30 September 2021 (€ 8.9 million), which benefited from the provisional tax effect, equal to € 5.1 million, for the release of deferred tax liabilitites relating to the redemption of the misalignments deriving from the merger, as provided for by Decree Law 104/2020 (the so-called “August Decree”).

There was a significant improvement in the net financial debt which, before the application of the IFRS16 accounting standard, was equal to € 37 million, a clear improvement of 12.3%, compared to € 42.2 million at 31 December 2021.

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 MORE INFORMATION:

 

Investors

Fabio Fazzari

CLI Investor Relator

Mob. +393346801664

Email fabio.fazzari@newlat.com

 

Roberto Stasio

Barabino & Partners

Tel +39 010 2725048

Cell +39 3355332483

Email  r.stasio@barabino.it

Alice Brambilla

Barabino & Partners

Tel +39 02 72023535

Cell +39 3282668196

Email   a.brambilla@barabino.it