(Finance) – Newlat Fooda group listed on Euronext STAR Milan and an important multi-brand player in the agro-food sector, closed i first nine months of 2022 with revenues equal to € 521.2 million, an increase of 15.2% compared to the first nine months of 2021, on a like-for-like basis of consolidation. In the third quarter of 2022 there was a strong organic contribution of prices and volumes equal to + 25.6% compared to Q3 2021.
L‘EBITDA amounted to 39.6 million euros, a decrease of 8.8%, while theEBITDA margin it is a slight decrease compared to that recorded in the same period of the previous year (7.6% as at 30 September 2022 vs 9.6% as at 30 September 2021).
The Net income it amounted to 3.5 million euros compared to 11.9 million in the first nine months of the previous year, which reflected the tax effect relating to the release of deferred taxes of 5.3 million.
“Despite the numerous pitfalls that 2022 has reserved up to now in terms of volatility, strong increase in production costs, geopolitical instability and reduced visibility, Newlat Food is able to give its shareholders a signal of great commercial and financial solidity today” , commented the president Angelo Mastrolia.
“Although uncertainty continues to be the main feature both in the macroeconomic and geopolitical fields, Newlat Food is ready to face 2023 with great determination both as regards new commercial policies and industrial efficiency plans to safeguard profitability, and as regards it. the development of new markets and products – he added – M&A activity continues to be central to the strategy of the group and we are sure that new opportunities will soon materialize from the numerous dossiers we are working on “.
There pro forma net financial position it went from -52.9 million at 31 December 2021 to -38.4 million at 30 September 2022, thanks to the group’s ability to generate cash flows from operations. Excluding the application of IFRS 16, the NFP is equal to -7 million, an improvement compared to -13.8 million at the end of 2021. The net financial position reflects the purchase of treasury shares for a total amount of 27 million .
(Photo: Newlat)