Italy: Amadori group closes the 2023 budget with revenues of 1,780 million Euros
In a constantly evolving macroeconomic and international framework characterized by profound changes, Amadori closed the financial year ending on December 31, 2023 with good performances and economic-financial results that confirm the solidity of the Italian agri-food group: revenues of 1,780 million Euros , EBITDA of 126 million Euros , net result of 28.5 million Euros and net equity of 377 million Euros .
Overall, the company's turnover growth stood at +2.5% , thanks to the increase in volumes and sales prices of value products, in addition to the significant investments in the Italian integrated supply chain , which is confirmed as the main strategic response to ensure competitiveness. Among the actions aimed at developing and enhancing the supply chains is the strategic partnership, in October 2023, with Forno d'Oro - a company specialized in the production of poultry cold cuts with a high service content - which has led the group to increase operational flexibility and further strengthen its supply chain.
With reference to sales performance, the GDO channel recorded a substantial stability (+0.7% in value), the Normal Trade channel grew by +2.3% in value and the Out of Home channel continued its growth, with Italian “Out of Home” consumption exceeding pre-Covid levels in absolute value in 2023, thus representing one of the main development channels for Amadori.
Investments were confirmed and increased during the year, bringing the commitment to strengthen the presence along the entire integrated supply chain to approximately 70 million euros , which at the end of 2023 employs a total of over 9,300 people and is made up of 19 production sites (including food processing plants, primary logistics platforms, feed mills and hatcheries), to which are added 16 distribution centers including branches and agencies and approximately 800 farms, both directly managed and under agreement.
Thanks to its Italian supply chains, integrated and attentive to sustainability, Amadori aims to offer a varied, quality protein diet characterized by different "colors": from poultry meat ("white" proteins), to eggs and egg products ("yellow"), from pork meat ("pink" proteins, marketed through the Lenti brand , acquired in 2022) to the Amadori "Veggy" line ("green" proteins, based on legumes). A wide range of products that demonstrates the path undertaken by the group, to evolve its offer of "natural" proteins and become the most sustainable and innovative Italian Protein Company, as summarized by the new corporate brand "Amadori - The Italian Protein Company" , through an offer suitable for all consumers.
In line with this vision, the new Strategic Plan 2024-2028 has been launched , which sets medium-long term objectives and outlines the path that will guide the company in its evolution into a cultural and market leader.
Among the various areas of growth is included, among others, the development of the presence in the “Out of Home” sector: in 2023, restaurant chains in Italy recorded double-digit annual growth (around 11%) and represent an important opportunity to support business growth.
"The 2024-2028 Strategic Plan will be a path in which our efforts will focus on the main directions of strengthening Brand Reputation , the search for operational efficiencies and the valorization of internal resources, in addition to the reduction of dependence on exogenous factors, through significant investments. These objectives converge towards a single paradigm: concentrating resources on the creation of value" - declares Denis Amadori , CEO of the group.
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