26/07/2006

Board of Directors approved second quarter results as of June 30, 2006. Net sales amounting to Euro 49.5 million (+2.8%), EBITDA amounting to Euro 5.3 million (+6.4%), and net pre-tax earnings amounting to Euro 3.2 million (+23.9%).

The Board of Directors of Centrale del Latte di Torino - a Company listed in the Star Segment of Borsa Italiana (the Italian Stock Exchange) which, together with its subsidiaries Centrale Latte Rapallo and Centrale del Latte di Vicenza, produces and sells fresh milk, dairy, and ultrafresh products - approved today the second quarter results as of June 30, 2006.
During this quarter, the Group recorded consolidated net sales amounting to Euro 49.5 million, with a 2.8% increase over the same period of the previous financial year.

Sales of "fresh milk" accounted for 46.3% of total sales as of June 30 2006, of "long-life milk" for 19.5%, of "yogurt" for 8.4%, of "bulk milk and cream" for 3.2%, and of "other packed products " for 22.7%.

With regard to margins as of 30/6/2006, the Group reported EBITDA amounting to Euro 5.3 million (with a 6.4% increase versus Euro 5 million in 30/6/2005), while EBIT amounted to Euro 3.2 million, also with a 13.8% increase, versus Euro 2.8 million in 30/6/2005.

Further, as of June 30, 2006 the Group reported net pre-tax earnings of Euro 3.2 million, with a 23.9% increase versus Euro 2.6 million in June 30, 2005.
The Group's net financial position as of June 30 2006, after income tax payment and some major investment programs, amounts to Euro -3.5 million, versus Euro -1.6 million in March 31, 2006.

As to the Holding Company Centrale del Latte di Torino, the company as of June 30, 2006 reported net sales amounting to Euro 29.8 million, versus Euro 28.8 million in June 30, 2005.
EBITDA, recording a 15.4% increase over the same period of the previous financial, went up from Euro 3.8 million to Euro 4.4 million; EBIT, recording a 27% increase over the same period of the first half of 2005, amounted to Euro 3.5 million; finally, pre-tax profit moved up from Euro 2.7 million in the previous year to Euro 3.6 million, thus reporting a 31.8% growth.

Moreover, in June, Centrale del latte di Torino fully endorsed the capital increase approved by the Extraordinary Meeting of Shareholders of Centrale del Latte di Vicenza S.p.A., thus raising its stake in this latter company from 82% to 85.4%.

"The results achieved during the first half of the year - said Mr Luigi Luzzati, President of Centrale del Latte di Torino & C. S.p.A - show an upward trend in revenues for all the companies in the Group, thus confirming our forecasts for 2006, namely some limited growth in sales on a general level, and a significant improvement in pre-tax profit".

Turin - July 26, 2006