Total consolidated revenues of 418.1 million Euros (426.6 million in 2023)
Operating profitability improving, with EBITDA of 16.6 million Euros (14.8 million in 2023) and EBIT of 7.5 million Euros (6.2 million in 2023)
Net profits of 1.7 million Euros (1.5 million in 2023)
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After the first four months, the trend in sales to clients in Commercial Catering is consistent with the objectives of strengthening the market presence
Focus on recovery of operating profitability confirmed

The Board of Directors of MARR S.p.A. (Milan: MARR.MI), the leading company in Italy in the sale and distribution to the foodservice of food and non-food products, today approved the interim management report as at 31 March 2024.

Main consolidated results in the first quarter of 2024

The first quarter of 2024 closed with total consolidated revenues of 418.1 million Euros which, in comparison with 426.6 million in the same period of 2023, were affected by the implementation of policies starting as of the first part of 2023 aimed at managing food inflation.

As a result of these policies, aimed at a recovery of the gross margin, operating profitability has improved, with a consolidated gross operating margin (EBITDA) in the first quarter of 2024 amounting to 16.6 million Euros (14.8 million in 2023) and EBIT of 7.5 million Euros (6.2 million in 2023).

After the first three months of 2024, the net profits, which are affected by increased net financial charges due to dynamics in the cost of funding, amounted to 1.7 million Euros (1.5 million in 2023).

The Net Trade Working Capital as at 31 March 2024 amounted to 234.1 million Euros, compared to 233.5 million as at 31 March 2023.

The net financial debt as at 31 March 2024 amounted to 260.7 million Euros (270.6 million at the end of the first quarter of 2023), while net of the application of accounting standard IFRS 16, it amounted to 181.5 million Euros (192.3 million in 2023). 

The consolidated Net Equity as at 31 March 2024 amounted to 354.0 million Euros (341.1 million at the end of the first quarter of 2023).