The growth trend of the main economic indicators continues at Longino & Cardenal, active in the research, selection and distribution of rare and valuable foods and reference point for national and international high catering. This is what the half-year report approved today by the board of directors says: the first six months of 2024 have ended, in fact, with revenues at 17.3 million Euros from 16.7 million on 30 June 2023 (+3.5% year-on-year) with a contribution margin of 4.3 million Euros from 3,8 million on 30 June 2023 (+13.6% compared to a year ago) and ebitda at 300.000 Euros in a clear recovery from the red of 80.000 Euros on 30 June 2023.

The net result was -200.000 Euroa compared to the red of 600 thousand Euro on 30 June 2023 and the net financial debt is 6.9 million Euros compared to 6.8 million on 31 December 2023

"The first half of 2024 saw Longino & Cardenal face a complex market environment, but at the same time full of opportunities -explains Riccardo Uleri, president and ceo of Longino & Cardenal S.p.a-. Despite global economic uncertainties, we are pleased to present results that show steady growth in revenues and a significant improvement in profitability. One of the most significant results of this half-year was the substantial improvement in the From a loss of 80 thousand Euro in the first half of 2023 to 293 thousand Euro positive in 2024 with an increase of 374 thousand Euro achieved thanks to an increase in the margin of intermediation and effective containment of operating costs".

"At a global level, the catering sector continued to evolve in a challenging economic environment in the first half of 2024. Despite the difficulties of inflationary pressures and rising commodity costs, demand for luxury dining experiences has remained resilient. In particular, the premium segment has experienced solid growth, with the opening of numerous gourmet restaurants and 5-star hotels worldwide, including major projects in Italy. These developments have supported the demand for exclusive products, a sector in which Longino & Cardenal continues to consolidate its leadership. The consolidated increase in turnover, combined with cost optimisation and expansion into digital channels, confirms the solidity of the group’s business model". 

"In addition -adds Uleri-, the growth of strategic divisions such as Shoplongino and the creation of Longino Digital Factory, open new development opportunities that will further strengthen our leadership in the high quality food & beverage sector. We look to the future with confidence, confident that the corrective actions already implemented and the continuous investments in digital innovation and targeted marketing will allow us to close 2024 with even more positive results. The second half of the year, traditionally stronger, offers us the opportunity to consolidate our growth and generate value for all our stakeholders".