Massimo Zanetti Reports Net Profits Increase For First Nine Months Of 2018
Source Massimo Zanetti Beverage Group
The Board of Directors of Massimo Zanetti Beverage Group S.p.A., one of the leading brands worldwide in the production, processing and marketing of roasted coffee and other selected categories of colonial products, listed on the Milan Stock Exchange (MZB.MI), approved today the Interim Report for the Nine Months ended September 30, 2018.
MASSIMO ZANETTI, THE GROUP’S CHAIRMAN AND CHIEF EXECUTIVE OFFICER, SAID: “In the first nine months of 2018, we achieved satisfactory profitability: EBITDA increased 5.0% on a comparable basis and net profit by more than 50%. Revenues for the first nine months of the year is slightly down on a comparable basis (-3.7% compared to the first nine months of 2017) and reflects the continuous improvement in the sales mix fueled by the performance of the food service channel and highly-profitable products, which resulted in the organic growth of the gross profit. All geographical areas recorded an increase in volumes, except for the US market, down by 5.4%. Specifically, volumes rose considerably in the Asia-Pacific region (+8.7%). Furthermore, the recent acquisition of the Australian group “The Bean Alliance” will enable us to seize additional opportunities in this high-potential area as of next year. Based on the results achieved in the first nine months of 2018 and given the positive outlook for the fourth quarter, we confirm our expectations of solid growth in profitability for the year”.
• REVENUE: EURO 654.0 MILLION COMPARED TO EURO 708.5 MILLION IN THE NINE MONTHS OF 2017; -7.7% AT CURRENT EXCHANGE RATES, -3.7% ON A COMPARABLE BASIS*
• GROSS PROFIT: EURO285.8 MILLION, -2.1% COMPARED TOEURO292.1 MILLION INTHE NINE MONTHS OF 2017 WITH THE MARGIN ON REVENUE OF 43.7% COMPARED WITH 41.2%
• EBITDA: EURO 50.6 MILLION, +2.8% COMPARED TO EURO 49.2 MILLION IN THE NINE MONTHS OF 2017, +5.0% ON A COMPARABLE BASIS*
• NET PROFIT: EURO 12.4 MILLION, +50.9% COMPARED TO EURO 8.2 MILLION IN THE NINE MONTHS OF 2017; Villorba, November 8, 2018.
