MARR: the Shareholders’ Meeting approved the 2014 financial statements

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Rimini, 28 April 2015 – The Shareholders’ Meeting of MARR S.p.A. (Milan: MARR.MI), the leading company in Italy in the sale and distribution of food products to the foodservice sector, today approved the 2014 financial statements.

In the 2014 business year, the total consolidated revenues amounted to 1,441.4 million Euros, an increase of about 77 million (+5.6%) compared to 1,364.7 million Euros in 2013.

The operating profitability also increased, with the EBITDA exceeding 100 million Euros and reaching 101.8 million, with an increase of 7.2% compared to 94.9 million in 2013, while the EBIT amounted to 85.7 million (+7.1% compared to 80.0 million in 2013).

The net consolidated profits reached 51.1 million Euros, with an increase of +8.0% compared to 47.3 million in 2013. 

As at 31 December 2014, the net financial debt amounted to 176.7 million Euros (194.1 at the end of 2013), while the net consolidated equity reached 254.3 million Euros (244.1 million Euros as at 31 December 2013).

The Parent Company MARR S.p.A. closed the 2014 business year with total revenues of 1,339.2 million Euros (+91.3 million Euros compared to 1,247.9 million Euros in 2013) and net profits of 52.4 million Euros, compared to 46.8 million in 2013. 

The Shareholders’ meeting approved the distribution to the Shareholders of a gross dividend of 0.62 Euros per share (0.58 Euros the previous year) with “ex coupon” (no. 11) on 25 May, record date on 26 May and payment on 27 May. 

Non distributed profits will be allocated to the Reserves.

In the first three months of the year, albeit not significantly in terms of their contribution to the entire business year, the revenues from sales of the MARR Group continued to increase.

Particularly the contribution from clients in the “Street Market” category (restaurants and hotels not belonging to Groups or Chains) was positive, while the performance of sales to “National Account” clients – in addition to missing the contribution of Alisea, the shareholding of which was sold on 31 March 2014 – was also affected by a selective approach in terms of supplies to Public Administrations, an approach aimed at safeguarding operating profitability. 

Activities are continuing in order to grasp all the market opportunities, including Expo 2015, for which the Group is finalising projects aimed at providing support to both the operators which will be supplying catering services for the event and the receptive structures – hotels and restaurants – in Lombardy and all the major cities, which are expected to benefit from an increase in the number of tourists.

The Shareholders’ meeting also examined and approved the Report on remuneration, pursuant to paragraph 6 of art. 123-ter of Legislative Decree 58/1998.

MARR (Cremonini Group), listed on the STAR segment of the Italian Stock Exchange, is the leading Italian company in the specialised distribution of food products to the foodservice and is controlled by Cremonini S.p.A..

With an organisation comprising more than 700 technical sales agents, MARR serves over 38,000 clients (mainly restaurants, hotels, pizza restaurants, holiday villages and canteens), with an offer that includes over 10,000 food products, including seafood, meat, various food products and fruit and vegetables.

The company operates nationwide through a logistical-distribution network composed of 33 distribution centres, 5 cash & carry, 4 agents with warehouses and about 750 vehicles.

In 2014, MARR achieved total consolidated revenues amounting to 1,441.4 million Euros, consolidated EBITDA of 101.8 million Euros and a Group net profit of 51.1 million Euros.

For more information about MARR visit the company’s web site at www.marr.it

The manager responsible for preparing the company’s financial reports, Antonio Tiso, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

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Press contact                                                                                             Investor relations

Luca Macario                                                                                             Antonio Tiso

lmacario@marr.it                                                                                     atiso@marr.it

mob. +39 335 7478179                                                                             tel. +39 0541 746803