In the first half of 2023, Italian multinational Newlat Food achieved remarkable profitability and robust cash generation despite a challenging market landscape. Revenues soared to €413.3 million, marking a substantial +23.2% growth compared to €335.5 million recorded in H1 2022. Normalized EBITDA reached €39.8 million, a noteworthy +40.7% increase, while consolidated EBITDA hit €38.5 million, surpassing the €25.2 million from 2022, resulting in a robust profitability margin of 9.3%. This is a significant upswing from the previous year’s level of 7.5% as of June 30, 2022.
Consolidated operating profit (EBIT) amounted to €23 million, a +197.3% rise compared to the €7.7 million in H1 2022. The consolidated net profit reached €10.7 million, demonstrating an impressive +391.4% surge compared to the same period last year.
President Angelo Mastrolia (pictured) remarked, “These extraordinary results reaffirm our exceptional growth, positioning us among the leaders in our sector. Leveraging operational efficiency driven by robust revenue growth and stringent cost management, we achieved a substantial increase in net profit to €10.7 million compared to €2.2 million in the previous year, all while mitigating the adverse effects of rising interest rates. These results bolster our group’s financial strength and flexibility, especially in the M&A arena, where we are actively pursuing opportunities with the aim of propelling our group well beyond the €1 billion revenue milestone in the near term.”