Massimo Zanetti Beverage Group Publishes 2018 Results
Source Massimo Zanetti Beverage Group
Villorba, February 28, 2019. 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, approved today the 2018 financial results.
MASSIMO ZANETTI, THE GROUP’S CHAIRMAN AND CHIEF EXECUTIVE OFFICER, SAID: “2018 ended with a slight decline in revenues, mainly due to the raw material price trend, but with a more profitable mix which allowed us to obtain an increase in net profit of 10%. It was also a year rich in initiatives aimed at laying the foundations for a new period of growth in all regions: notably in Asia, with the opening of the new branch in China, a stronger presence in Thailand and Indonesia, and the latest acquisition in Australia. New projects were launched also in other markets, to catch new trends, with increasing attention paid to the sustainability issue: compostable capsules, which have recently been awarded the title of product of the year in France, one of the most mature markets for the coffee sector; fairtrade, rainforest and organic products; and the important non-GMO certification obtained by our plantation in Kauai, Hawaii. 2019 will also be a year rich in projects, in which we expect to reap the rewards of the initiatives launched this year, in order to achieve profitable and lasting growth. Business performance and efficient management of working capital allowed the Group to generate cash flows of over 60 million, before investments equal to Euro 32 million.
