Results are up by 10% thanks to tomatoes and the organic sector
Conserve Italia has ended the 2017-2018 marketing year on a clearly successful note, with positive results thanks to a 10% increase in exports driven by tomato products and by the growth in sales of "well-being" and organic ranges under the Valfrutta label. For the group overall, total turnover for 2017/2018 amounted to approximately EUR 900 million (+1%), of which more than 40% on the export market.
This results sheet was unanimously approved on 26 October during a shareholders' meeting that also renewed Maurizio Gardini to his role as chairman of the group and listened to a presentation of the company report on sustainable development.
In a detailed breakdown of figures, it was reported that the Conserve Italia group recorded an increase in its turnover of EUR 8 million (+1.5%) in 2017/2018, driven by the excellent results achieved by the new entity's sales on foreign markets (+9.8%), including on the British market, mainly carried by sales of tomato products under the Cirio brand. The company's foreign subsidiaries also recorded good performances. In Spain, Juver achieved the best result of its history with profits of EUR 2.5 million, an increase in turnover and improved profitability in compliance with the commercial strategy launched three years ago, which was based on growth estimates for the Juver brand in Spain, on improved relations with Spanish distributors and on a strong development dynamic for exports. The path taken by Conserve France has also led to economic and structural equilibrium, with a 1% increase in turnover, at more than EUR 76 million, notably thanks to the growth of sales of products under the Cirio brand; furthermore, the company's profitability has improved, with the logistics and industrial restructuring plan nearing completion.
The financial situation of the group has improved by EUR 33 million, thanks to continued profitability and positive operating income of EUR 57 million, up 8% compared to the previous marketing year. The financial report also mentioned "the careful management of internal costs" and, despite a voluntary investment policy (EUR 48 million) aimed at enhancing the value of raw materials supplied by its members, improvements have continued to be carried out on production installations and services, as well as on supportive measures for the company's brands.
According to Maurizio Gardini, "The positive results of 2017/2018 have positioned the Group in the best situation of its history, economically and in terms of investments, despite a very delicate period for the national economy, a contraction in volumes on the main markets where the company is involved, and major promotional pressure. During the financial year ending 30 June 2018, the Conserve Italia group dealt with 605 000 tonnes of products overall, including 523 000 tonnes in Italy. 91% of the raw materials were produced by company shareholders, for a total value in excess of EUR 70 million."