La Doria, the Italian firm specializing in canned goods, has greenlit its consolidated financial report for 2023, revealing a robust +20.6% surge in revenue compared to the previous fiscal period. Management’s adept maneuvering has propelled the company’s figures to new heights: 2023’s turnover stands at 1.23 billion euros, a notable uptick from the 1.02 billion euros recorded previously.
This milestone is not solely attributable to price escalations; rather, it mirrors an uptick in sales volume and substantial investments made by La Doria over the last half-decade. Totaling approximately 142 million euros between 2019 and 2023, these investments include a hefty 60 million euros earmarked for bolstering production capacity and logistics, over 20 million euros devoted to sustainability initiatives and energy efficiency enhancements, and around 10 million euros allocated to digital transformation. Looking ahead to 2024, La Doria has earmarked a further 30 million euros for similar initiatives.
CEO Antonio Ferraioli (pictured) remarks, “La Doria’s ascent is a testament to our group’s nimbleness in confronting challenges and seizing opportunities, as well as our adeptness in adapting to dynamic market conditions. Our focus on commercial expansion and penetration of key markets has remained steadfast. Concurrently, we’ve maintained our vigilance in optimizing procurement and production processes, buoyed by substantial new investments.”
PRODUCTS
The “Linea Rossa” (comprising tomato preserves) witnessed a notable upswing of +34%. Equally impressive was the “Linea Legumi, Vegetali, e Pasta in scatola,” (canned legumes, vegetables, and pasta) which recorded a growth of +27.5%, while the “Linea Sughi” (other sauces) saw an increase of +26.2%. Meanwhile, the “Linea Frutta” (canned fruits) experienced an uptick of +0.9%, and the “Trading Lines” – encompassing products imported by La Doria Ltd from third parties and marketed in the UK – saw an increase of +10.6%.
BRANDS
In 2023, private labels constituted a dominant 95.6% share of total sales, with the remaining 4.4% attributed to proprietary brands and industrial co-packing arrangements. This underscores the pivotal role distributor brands play in the group’s operations.
MARKETS
While the Italian market contributes 15.5% of total sales, exports account for a substantial 84.5%. La Doria’s exports span 60 countries, with the United Kingdom emerging as the primary foreign market, followed by Germany, Scandinavia, Australia and New Zealand, and Eastern Europe. Export volumes surged by +22.6% in 2023, buoyed by robust sales growth, whereas the domestic Italian market, the second-largest after the UK, saw a revenue uptick of +11%.
GOALS
“The cornerstones of our growth strategy will continue to revolve around meeting the burgeoning demand for Italian food products overseas and nurturing the development of private labels. We gaze toward the horizon with confidence, cognizant of the hurdles ahead but steadfast in our belief that we possess the acumen to surmount them successfully. Bolstered by enduring partnerships with our clientele, we remain committed to fostering sustainable value for all stakeholders,” concludes Ferraioli.
