In the first quarter of 2019, the total revenues amounted to 333.4 million Euros compared to 336.5 million in 2018, and were affected by a different calendar for Easter.
EBITDA and EBIT in the first quarter of 2019 (after application of IFRS 16) were 17.3 and 10.7 million Euros respectively. Net result amounted to 6.6 million Euros.
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Sales to the main category of Street Market clients in the first four months recorded an increase of 4.0%.
The Board of Directors of MARR S.p.A. (Milan: MARR.MI), the leading company in Italy in the sale and distribution of food products to the foodservice, today approved the interim report as at 31 March 2019.
The total consolidated revenues for the period amounted to 333.4 million Euros compared to 336.5 million in the first quarter of 2018, which had benefitted from the positive effect of Easter (on 1st April 2018 and on 21st April this year) on the sales to the main category of Street Market clients.
After the application of the accounting standard of IFRS 16, the EBITDA and EBIT amounted to 17.3 and 10.7 million Euros respectively. IFRS 16 requires the new accounting, starting on 1st January 2019, of the leases that involve the right to control the use of the asset being leased. The effects of IFRS 16 in the first quarter of 2019 amounted to +2.2 million Euros on the EBITDA and +0.1 million on the EBIT. In the first quarter of 2018, the EBITDA and EBIT, without the effects of IFRS 16, amounted to 16.4 and 11.8 million Euros respectively.
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