MARR: The Board of Directors approves the half-yearly financial report as at 30 June 2024

MARR: The BoD approves the half-yearly financial report as at 30 June 2024.
Total consolidated revenues of 987.7 million Euros (1,003.2 million in 2023)
Improvement in operating profitability confirmed, with EBITDA of 55.6 million Euros (53.4 million in 2023) and EBIT of 35.4 million Euros (34.7 million in 2023)
Net profits of 17.5 million Euros (18.7 million in 2023)
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Sales increased in all client segments in July. After the first seven months, sales to clients in Commercial Catering are consistent with the objectives of strengthening the market presence and focusing on the management of the gross margin.

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 half-year financial report as at 30 June 2024.

Main consolidated results in the first half of 2024

The first half of 2024 closed with total consolidated revenues of 987.7 million Euros which, in comparison with 1,003.2 million in the same period of 2023, were affected, especially in the first months of 2024, by the implementation of policies for the management of food inflation started from the first part of 2023 and which have involved the Canteens segment in particular.

As a result of these policies, aimed at recovering the gross margin, the improvement in operating profitability has been confirmed, with a consolidated EBITDA amounting to 55.6 million Euros in the first half of 2024 (53.4 million in 2023) and EBIT amounting to 35.4 million Euros (34.7 million in 2023).

At the end of the first six months of 2024, the net profits, which are affected by increased net financial charges as a result of the dynamics in the cost of funding, amounted to 17.5 million Euros (18.7 million in 2023).

The Net Trade Working Capital as at 30 June 2024 amounted to 183.7 million Euros, compared to 198.6 million at the end of the first half of 2023.

The net financial debt as at 30 June 2024 amounted to 240.8 million Euros (250.1 million in the first half of 2023), while net of the application of accounting standard IFRS 16, it amounted to 163.6  million Euros (172.4 million as at 30 June 2023). 

The consolidated Net Equity as at 30 June 2024 amounted to 326.2 million Euros, compared to 332.2 million in the first half of 2023.