|
Net consolidated sales amounting to _ 23.8 million (+41.3%), EBITDA amounting to _ 2.3 million (+38%), EBIT at _ 874 thousand (+47%).
The Board of Directors of Centrale del Latte di Torino & C. S.p.A, the Parent Company of a group of companies producing and selling fresh milk, dairy products, and ultrafresh products, approved today the results for the first quarter of 2003. The Company is listed in the Star Segment of Borsa Italiana S.p.A. (the Italian Stock Exchange).
It must be pointed out that no homogeneous comparison is possible with the results reported in for the same period of last year, the reason being that in the consolidated figures for the first three months of 2002, Centrale del Latte di Vicenza, which was acquired later, was not included.
When examining the figures reported as of March 31 2003 more in detail, net consolidated sales amounted to _ 23.8 million (+41.3%) over _ 16.8 million in the first quarter of 2002, EBITDA amounted to _ 2.3 million (+38%) over _ 1.6 million in the first quarter of 2002, whereas EBIT totaled _ 874 thousand (+47%) over _ 593 thousand in the first quarter of 2002.
The recorded growth was specially due to sales of fresh and ultrafresh products, apart from fresh and UHT milk, as well as to a significant increase in yogurt sales (+300%), a segment where Centrale di Vicenza controls a significant market share.
With regard to the Holding Company, sales in the first quarter of 2003 amounted to _ 13.8 million, as against _ 13.1 million in the first quarter of 2002, EBITDA amounted to _ 1.7 million as against _ 1.1 million in the first quarter of 2002, while EBIT amounted to _ 808 thousand, as against _ 430 thousand in the first quarter of 2002.
The net financial position has improved from December 31, 2002 by approximately _ 2 million. Conversely, this figure poorly compares with the data reported in the first quarter of 2002, since these data were not yet affected by the acquisition of Centrale di Vicenza.
As to forecasts, the 2nd quarter is expected to confirm the results achieved so far, specially by reaping the benefits of the relaunch of sales and marketing activities undertaken by Centrale del Latte di Vicenza, as well as of the other strategies already implemented by the other companies in the Group .
|