|
Net consolidated sales amounting to _ 67.7 million, EBITDA amounting to _ 5.06 million, EBIT at _ 127.9 thousand, loss before taxes amounting to _ - 460 thousand.
These are the most significant items recorded in the quarterly Financial Report as of September 30, 2002 and approved today by 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. The company is listed in the Star Segment of Borsa Italiana S.p.A. (the Italian Stock Exchange).
When examining the data presented in the Profit and Loss Account of the Group, for the period ending September 30, 2002, it must be stressed that the recent acquisition of Centrale del Latte di Vicenza - hence the overall consolidation of its Balance Sheet - had a strong impact on the company's results, thus no homogeneous comparison is possible with the same period of last year.
However, it should be pointed out that net consolidated sales reached _ 67.7 million, thus recording a 48.8% increase over _ 45.6 million of September 2001, while Ebitda amounted to _ 5.06 million, with a 22.8%. increase over _ 4.1 million, reported for the period ending September 30, 2001.
Ebit amounts to _ 127.9 thousand, as against _ 911 thousand for the period ending September 30 2001, owing to higher depreciations on new investments by the parent company and to depreciations deriving from the allocation of the consolidation difference reported in the balance sheet of the newly acquired Centrale del Latte di Vicenza, as mentioned above.
Under the impact of extraordinary charges deriving from a rearrangement of accounting items referred to the 2001 Balance Sheet of Centrale del Latte di Vicenza by over _ 500 thousand, a loss before taxes of _ 460 thousand was reported, as against profits for _ 761.6 thousand, in the period ending September 30 2001.
With regard to the Holding Company, net proceeds as of September 30, 2002, went up to _ 37.4 million, with a 6% increase over the same period in 2001, Ebitda amounted to _ 2.77 million, hence slightly higher than _ 2.74 million of September 30, 2001; Ebit slightly dropped to _ 636.5 thousand, from _ 717.5 thousand of September 30, 2001, while earnings before taxes amounted to _ 879.3 thousand, thus on the increase as a against _ 807.5 thousand, in the same period of 2001.
As to forecasts, during the last quarter of the year and, consequently, for the entire 2002 financial year, corporate growth is going to continue by lines of business, also through the reorganisation and relaunching of the recently acquired subsidiary Centrale del Latte di Vicenza. The objective is to improve the management performance of the latter company, in line with the Group's financial track record.
|