Distribution of
a gross dividend of 0.60 euro per share (0.60 euro last year) resolved, with ex-coupon
on 19 May.
The operational activities of the new MARR Platform of Central-Southern Italy have started.
The Shareholders’ Meeting of MARR S.p.A. (Milan: MARR.MI), the leading company in Italy in the sale and distribution of food and non-food products to the foodservice, today approved the annual financial statements as at 31 December 2024.
Main consolidated results for 2024 business year
The MARR Group closed the 2024 business year with Total Consolidated Revenues of 2,098.0 million euro, an increase compared to 2,085.5 million in 2023.
The consolidated EBITDA for the 2024 business year amounted to 120.2 million euro and, compared to 123.1 million in 2023, was influenced by the incidence of logistics costs (in particular transport and handling of goods), the increase of which was also affected by the reduction in the euro/kg ratio of the products sold which affected the first part of the summer period.
The consolidated EBIT for the 2024 business year amounted to 80.7 million euro (84.9 million in 2023).
The Net consolidated result amounted to 42.7 million euro and, compared to 47.1 million in 2023, was affected in the first half of the business year by the increased financial charges, also linked to the trends in the cost of funding.
The Net Trade Working Capital (NWC) as at 31 December 2024 amounted to 169.2 million euro, a reduction compared to 170.6 million at the end of 2023, with a consequent improvement in the incidence of the NWC on the Total Revenues, the increase of which amounted to 12.5 million.
The net financial debt as at 31 December 2024 amounted to 237.9 million euro, compared to 223.4 million in 2023.
Net of the effects of the application of accounting standard IFRS 16, the Net Financial Position at the end of the 2024 business year amounted to 170.4 million euro and, compared to 141.8 million as at 31 December 2023, was affected by investments of 28.5 million and by the distribution of dividends of 39.1 million euro.
The consolidated Net Equity as at 31 December 2024 amounted to 345.6 million euro (355.5 million in 2023) and includes a reserve for the purchase of treasury shares of 25.2 million euro (12.0 million as at 31 December 2023) regarding the purchase of 2,141,460 treasury shares, amounting to about 3.2% of the Share Capital.
The Company currently owns 2,400,200 treasury shares, corresponding to about 3.6% of the Share Capital.
Results of the parent company MARR S.p.A. and dividend distribution approval
The parent company MARR S.p.A. closed the 2024 business year with 1,984.4 million euro in Total Revenues (1,969.4 million in 2023) and a Net Result of 43.0 million euro (44.9 million in 2023).
Today’s Shareholders’ meeting approved the annual financial statements as at 31 December 2024 of MARR S.p.A. and the distribution of a gross dividend of 0.60 euro (0.60 euro last year), with "ex-coupon" (no. 20) on 19 May 2025, record date on 20 May and payment on 21 May.
Report on the Remuneration Policy and Remuneration Paid
The Ordinary Shareholders’ Meeting, according to Art. 123-ter para. 3 bis of Legislative Decree no. 58 /1998, approved the Remuneration Policy and Remuneration Paid as described in the “First Section” and, according to Art. 123-ter para. 6 of Legislative Decree no. 58 /1998, expressed its favorable opinion regarding the “Second Section”, regarding the remuneration paid in 2024, of the aforementioned Report.
Authorisation to purchase, sell and dispose of its own shares
The Shareholders’ Meeting revoked, with respect to the unused part of the authorisation to purchase, sell and dispose of own shares of the Company granted by resolution of the Shareholders’ Meeting on 19 April 2024 and simultaneously approved a new authorisation to purchase (up to a maximum number which, taking into account the ordinary MARR shares held from time to time in the portfolio of the Company, does not exceed 7.5% of the share capital), sell and dispose of own shares of the Company according to the terms and conditions provided in the resolution proposal illustrated in the report available on the Company website www.marr.it in the governance/shareholders’ meetings section.The authorisation to purchase, sell and dispose of its own shares is aimed, in the interest of the Company, at:
a) carrying out, directly or through intermediaries, any investments, including those to limit anomalous movements in prices, to regularise the performance of trading and trends and to sustain the liquidity of the shares on the market, thus favouring the proper performance of trading outside of the normal variations linked to market trends, in any event without prejudice to the respect of the regulations in force;
b) consistently with the strategies of the Company, carrying out operations on the capital or other operations with regard to which the exchange or sale of share packages is necessary or opportune, to be achieved through mortgaging, conferment or other disposition deed.
The Company currently owns 2,400,200 treasury shares, corresponding to about 3.6% of the Share Capital.
Further resolutions of the Shareholders' Meeting
The Ordinary Shareholders' Meeting pursuant to art. 13 of Legislative Decree no. 39/2010, upon reasoned proposal of the Board of Statutory Auditors, has assigned the auditing firm Deloitte & Touche S.p.A. the following tasks: i) to perform the legal audit of the accounts, for the financial years included in the nine-year period 2025-2033 and ii) to certify the conformity of the sustainability reporting for the financial years 2025, 2026 and 2027.
The Shareholders' Meeting convened for the Extraordinary part also approved the amendment of articles 9 and 16 of the Corporate by-laws of MARR S.p.A. as set out in the explanatory report of the Board of Directors.
Appointment of the Manager responsible for preparing the company’s financial reports
The Board of Directors of MARR S.p.A. held at the end of today's Meeting, pursuant to art. 21 paragraph 6 of the Corporate by-laws and with the favorable opinion of the Board of Statutory Auditors, appointed Antonio Tiso as Manager Responsible for preparing the company’s financial reports, assigning him the tasks, responsibilities and resources provided for by art. 154-bis of Legislative Decree 24 February 1998 no. 58. Antonio Tiso, appointed CFO of MARR on 21 February and effective 15 March, today takes over from Pierpaolo Rossi as Manager Responsible.
Events after the end of the 2024 business year
On 7 April the operational activities of the new MARR Central Platform in Castelnuovo di Porto (Rome), intended to serve the Central-Southern area, have started.
In particular, the first activities transferred to Castelnuovo di Porto from the current Platform in Pomezia (Rome) and partly from the Platform in Piacenza, are those of stocking services, also with the optimization of temporary deposits at external third-party structures, and those of product redistribution to the MARR distribution centers in Central-Southern Italy. The implementation of Castelnuovo di Porto, which is expected to be completed by the last quarter of the year, will continue with the redesign and strengthening of the operational activities currently managed by the MARR structures present in Lazio.
The leased Castelnuovo di Porto facility is a new and efficient structure, which with over 30 thousand square meters of covered surface area is today the largest in the distribution network of MARR.
The activation of the Central Platform of Castelnuovo di Porto represents a significant advancement in the first phase of the MARR Investment Plan, a phase started with the realization of the MARR Lombardia distribution center in Bottanuco (Bergamo), the opening of which took place in April 2024, and which will be completed, according to plans, with the construction of the new MARR Puglia distribution center in Monopoli (Bari).
The new MARR Puglia structure, with a surface area of approximately 9 thousand covered square meters and whose works are progressing according to schedule, will replace the historic branch also located in Monopoli and will be leased.
In recent days MARR has also published the 2024 Sustainability Report on its website, a document which, in line with that of previous years, illustrates the environmental, social and governance performance of the MARR Group aimed at creating value for all its stakeholders, as well as the elements of the strategy and business model that concern sustainability topics.The 2024 Sustainability Report represents an elaboration of the Consolidated Sustainability Reporting, which was drawn up in compliance with the provisions of Legislative Decree no. 125/2024 in implementation of EU Directive 2022/2464 (Corporate Sustainability Reporting Directive), is structured according to the ESRS (European Sustainability Reporting Standards) sustainability reporting principles and is an integral part of the 2024 Annual Financial Report.
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