The Board of Directors of Marr SpA (Milan: Marr.MI), a leading company in Italy in the marketing and distribution of food products to the foodservice sector, today approved the consolidated financial statements and the draft financial statements for 2024, which will be submitted to the Shareholders' Meeting called for April 28.

The Group closes the 2024 financial year with Total Consolidated Revenues of 2,098.0 million euros, up from 2,085.5 million in 2023. The consolidated EBITDA for the 2024 financial year is equal to 120.2 million euros and in comparison with the 123.1 million of 2023, it was influenced by the impact of logistics costs (in particular transport and goods handling), the increase of which was also affected by the reduction in the euro/kg ratio of products sold that affected the first part of the summer period.

Consolidated EBIT for the 2024 financial year stands at 80.7 million euros (84.9 million in 2023).
The consolidated Net Result is 42.7 million euros and compared to 47.1 million in 2023, it was affected in the first half of the year by higher net financial charges linked to the dynamics of the cost of money.

The Net Commercial Working Capital (NCC) at 31 December 2024 is equal to 169.2 million euros, down compared to 170.6 million at the end of 2023, with a consequent improvement in the incidence of NCC on Total Revenues, which increased by 12.5 million. The net financial debt at 31 December 2024 is 237.9 million euros and compares with 223.4 million in 2023.

Net of the effects of the application of the accounting principle Ifrs 16, the Net Financial Position at the end of the 2024 financial year stands at 170.4 million euros and compared to 141.8 million at 31 December 2023, it is affected by investments of 28.5 million and the distribution of dividends of 39.1 million euros.

Consolidated Net Equity at December 31, 2024 is equal to 345.6 million euros (355.5 million in 2023) and includes a reserve for the purchase of own shares for 25.2 million euros (12.0 million at December 31, 2023) relating to the purchase of 2,141,460 own shares equal to approximately 3.2% of the Share Capital. As of today, the company holds 2,267,150 own shares corresponding to approximately 3.4% of the Share Capital.

The Parent Company Marr SpA closes the 2024 financial year with Total Revenues of 1,984.4 million euros (1,969.4 million in 2023) and a Net Result of 43.0 million euros (44.9 million in 2023).

Today's Board of Directors proposed to the Shareholders' Meeting to be held on April 28th the distribution of a gross dividend of 0.60 euros (0.60 euros in the previous financial year) with “coupon ex-dividend” (n. 20) on May 19th 2025, record date on May 20th and payment on May 21st.

With Total Consolidated Revenues of 2,098.0 million euros, Sales Revenues for the 2024 financial year amount to 2,054.0 million euros (2,051.2 million in 2023).
Sales to the Street Market customer segment (Independent Commercial Catering) amounted to 1,350.4 million euros, in line with the 1,350.4 million of 2023, with 286.6 million euros of sales in the fourth quarter of 2024 and a growth of 10.3 million compared to the 276.3 million euros of the same period of 2023; after having been affected by a reduction in the euro/kg of products sold in the third quarter (the most important in terms of seasonality of the activity) of 2024, as a result of deflationary dynamics that particularly affected the fish products category.

In the first two months of 2025, sales trend is growing, even when compared to a leap year in February 2024, and consistent with the objectives for the year.

The initiatives underway for growth and efficiency will also benefit from the activation of the new Central Platform in Castelnuovo di Porto (Rome) starting in early April, for which operational activities for the start-up are underway in recent weeks. The new structure will initially become operational with the storage and re-distribution services of products to the Marr distribution centers in Central and Southern Italy, then its implementation, which is expected to be completed by the last quarter of the year, will continue with the redesign and strengthening of the logistics activities currently managed by the Marr structures present in Lazio.