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News

La Doria reaches 20.6% growth in revenue in 2023

09/05/2024 - Madeleine Royère-Koonings

In 2023, the company's revenue reached €1.228 billion. Growth was driven by Linea Rossa (+34%), canned legumes, vegetables, and pasta (+27.5%), and sauces (+26.2%). This year, investments will exceed €30 million.

The Board of Directors of La Doria Spa approved the 2023 consolidated accounts, marked by a 20.6% increase in revenue compared to the previous year. Despite significant international uncertainties and a macroeconomic scenario characterized by strong inflationary pressures, the group's management results show a significant improvement over 2022: 2023 revenue amounts to €1.228 billion, compared to €1.018 billion the previous year.
This achievement is the result not only of price increases but also of an increase in volumes sold and significant investments made by La Doria over the past five years: approximately €142 million between 2019 and 2023, including €60 million for production and logistics capacity expansion, over €20 million for environmental sustainability and energy efficiency interventions, and around €10 million for digital transformation. For 2024, La Doria plans additional investments of over €30 million in the same areas.

"La Doria's growth is the result of both our Group's flexibility in facing challenges and seizing opportunities, and our ability to adapt to changing market conditions. We have maintained our focus on business development and expansion in our core markets; at the same time, we have continued to concentrate on optimizing supplies and production processes, thanks to major new investments" says group CEO Antonio Ferraioli.

PRODUCTS
Regarding revenue composition by product type, the "Linea Rossa" saw an overall increase of +34%, while the "Canned Legumes, Vegetables, and Pasta Line" also recorded a significant improvement (+27.5%), and the "Sauces Line" registered a +26.2%. Finally, the "Fruits Line" shows a +0.9%, while the "Trading Lines" - including products imported by the subsidiary Ldh (La Doria) Ltd from third parties and marketed in the English market (such as dried pasta, tuna, salmon, canned corn, and others) - marked an increase of +10.6%.

BRAND NAMES
Regarding revenue distribution by brands, during the 2023 fiscal year, the weight of private labels reached 95.6%, while the remaining 4.4% was generated by corporate brands and industrial co-packing: a figure that confirms how central private labels are to the group's activity.

REVENUE BY REGION
Revenue distribution by geographical area shows an Italian market share of 15.5%, while exports represent 84.5%. La Doria exports to 60 countries: the main foreign market remains the United Kingdom, followed by Germany, Scandinavian countries, Australia, New Zealand, and Eastern European countries. Exports increased by +22.6% thanks to satisfactory volume growth, while the domestic market, second in size after the UK, saw a revenue growth of +11%.

FUTURE GOALS
"As far as the next steps are concerned, the drivers of our growth strategy will remain the increasing demand for made-in-Italy food products abroad and the steady development of private labels. We look to the future with confidence, aware of the challenges but convinced that we can meet them successfully; also thanks to the consolidated relationships with our customers, and aware that we can generate sustainable value for all stakeholders" concludes Ferraioli.

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