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Revenues grew to 56.8 billion lire in the first half of 2000 (+5% compared with the 54.1 billion lire recorded in 1999), operating margin was 5.1 billion lire (4.9 billion lire in 1999) and there was a growth in net income to 483 million lire.
Today the Italian Stock Exchange authorised the listing of Centrale del Latte di Torino & C. S.p.A. on the Telematic Stock Exchange.
Centrale del Latte di Torino & C.'s entry on the stock exchange, subject to the formal acceptance of Consob S.p.A., will consist in a Global Issue which will include a placing with the general public in Italy and a private placing reserved for institutional investors.
As regards the operation to obtain a listing on the Italian Telematic Stock Exchange, Centrale del Latte di Torino & C. is assisted by Banca Intermobiliare di Investimenti e Gestione S.p.A. which will act as both the Sponsor and Global Coordinator of the operation
Centrale del Latte di Torino & C. - together with its subsidiary, Centro Latte Rapallo S.p.A. - has operated for almost 50 years in the fresh products sector and is specialised in the production and distribution of milk and fresh-ultra-fresh products, such as eggs, cheese and salads.
With three production plants and an equivalent of more than 80 million litres of milk marketed, Centrale del Latte di Torino & C. S.p.A. is extremely well established in its territory with 68% of its turnover in Piedmont and the remaining 32% in Liguria.
The Company is the leading producer and distributor of fresh and UHT milk in its marketing territory.
In 1999 Centrale del Latte di Torino & C. recorded revenues of about 107.7 billion lire, an operating result of 4.3 billion lire, substantially breaking even after depreciation and amortisation of more than 6 billion lire and structural and communication investments in excess of 11 billion lire.
In the first half of 2000 Centrale del Latte di Torino & C. has witnessed a growth in consolidated turnover, from 54.1 billion lire in 1999 to 56.8 billion lire - an increase of about 5%. In the same period the operating margin was 5.1 billion lire (4.9 billion lire in 1999), whereas net income was 483 million lire, a slight increase over the 480 million lire recorded in the first half of 2000..
Listing on the Stock Exchange will provide financing for Company growth, to be achieved by broadening the product range, above all in the fresh-ultra-fresh sector, and penetration in new geographical areas.
More specifically, the Company is evaluating possibilities of external growth by means of acquiring companies in areas where the Company is either not currently present or is, but only marginally.
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