Cremonini growing remarkable

by Editor
Thursday, February 22, 2007

The annual closure 2006 confirms Cremonini’s growth trend in revenues and profitability.

The Cremonini Group, Italy’s beef processing, foodservice and distribution giant, saw total consolidated revenue of €2,348.8 million last year. This was an increase of 10.3% compared with the revenue of €2,128.9 million in 2005.

The gross operating margin went up by 18.8% compared to 2005. The profit from normal operations showed an improvement of 11.4% compared to 2005.

Pre-tax profit was €55.4 million, which was an improvement on 2005 when the group had an extraordinary capital gain of €26.1 million from the flotation of the MARR arm of the company.

In the fourth quarter, the production sector, which includes the beef processing arm, registered total revenue of €272.7 million in line with €272.3 million in 2005, and a marginal recovery.

The company forecast that because of higher than expected results achieved during 2006, which were also achieved from the excellent performance in the last quarter of the year, there would be an improvement in operating results in 2007.

The Cremonini Group is one of the most important European operators in the food sector and is among the leaders in Italy in the production of beef and meat-based transformed products, in the distribution of food to the catering sector and in the production of Italian cured meat products.