MARR closed FY 2021 with results significantly better than 2020:
- Total consolidated revenues of more than 1,456 million Euros (+35% compared to 1,074 million in 2020) and EBITDA above 90 million Euros (+130% compared to about 39 million in 2020)
- Net consolidated result of 35.1million Euros (-2.4 million in 2020)
Gross dividend proposed of 0.47 Euros per share
The 2021 Sustainability Report and the authorisation proposal for the purchase, disposal and availability of treasury shares to be submitted to the Shareholders' meeting on 28 April approved.
MARR enhances its customer service level on the Ionian coast of Calabria through the acquisition of the business of Frigor Carni
The Board of Directors 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 consolidated financial statements (prepared in ESEF format), the sustainability report and the draft 2021 annual financial statements, to be submitted to the Shareholders' Meeting convened on 28 April next. The Board of Directors has also approved the authorisation proposal for the purchase, sale and disposal of treasury shares to be submitted to the Shareholders' Meeting on 28 April.
Main consolidated results for 2021
The MARR Group closed the financial year 2021 with Total Consolidated Revenues of 1,456.3 million Euros, a significant increase compared to 1,073.7 million in 2020.
The Gross Operating Margin (EBITDA) and Operating Result (EBIT) for the year also improved significantly, reaching 90.5 million Euros (39.4 million in 2020) and 57.6 million Euros (2.8 million in 2020) respectively.
The Net Result for the year amounted to 35.1 million Euros (-2.4 million in 2020) and was affected by non-recurrent charges of 2.9 million Euros in the first half-year regarding the early repayment (on 23 July 2021) for a net amount of approximately 25 million Euros of the USPP bond loan in US dollars subscribed in July 2013.
The Net Trade Working Capital as at 31 December 2021 amounted to 140.2 million Euros, a reduction compared to 198.8 million at the end of 2020.
The Net Financial Position as at 31 December 2021 amounted to 141.4 million Euros (192.3 million at the end of 2020).
The Free Cash Flow for the year, net of the variation in debt according to IFRS 16 (-30.5 million) and after the distribution last October of 23.3 million Euros in dividends, amounted to 81.4 million Euros.
The consolidated Net Equity as at 31 December 2021 amounted to 349.5 million Euros (338.1 million Euros at the end of 2020).
Results of the parent company MARR S.p.A. and dividend proposal
The parent company MARR S.p.A. closed 2021 with Total Revenues of 1,381.2 million Euros (1,048.6 million in 2020) and a Net Result of 31.9 million Euros (-4.1 million in 2020).
The Board of Directors has proposed to the Shareholders' Meeting on 28 April the distribution of a gross dividend of 0.47 Euros (with a consolidated EPS of 0.53 Euros) with ex-coupon (no. 17) on 23 May, record date on 24 May and payment on 25 May. The profits not distributed will be allocated to the Reserves.
A gross dividend of 0.35 Euros per share had been paid out last October, drawing on part of the increase in the available reserves, which had increased as a result of the prudential allocation of the Net Profits for 2019.
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