ITALY: Parmalat profits slump on FX, milk prices
- Sales drop 3.2% to EUR1.23bn (US$1.67bn)
- EBITDA down 19.4% to EUR76.4m
- Net profit dips 14.4% to EUR48.4m
A "sharp increase" in cost of raw milk and the negative impact of currency exchange weighed on first-quarter earnings at Italian dairy giant Parmalat.
In the three months to 31 March, the company, majority-owned by France's Lactalis, said EBITDA fell 19.4% and net profit sank 14.4%.
Sales at the group were down 3.2% but, "at constant scope of consolidation" and exchange rates, increased 7.8% in the period.
The company reaffirmed its full-year outlook. "At constant exchange rates and scope of consolidation and excluding the effect of hyperinflation, the previously announced growth rate estimates for net revenues (3%) and EBITDA (3%) are confirmed," it said.
Click here to view the financial release.
Synopsis Canadean's "Groupe Lactalis S.A.: Consumer Packaged Goods - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile contains a ...
Parmalat S.p.A. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offering...
Canadean's "Lactalis Ingredients: Ingredients - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile contains a company overview, key...
Canadean's "Parmalat S.p.A. : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a ...
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Challenges for General Mills with The Good Table
- Why investors are concerned about water risk
- Greek crisis: The impact on shopper behaviour
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Hearthside to buy nutrition bar maker VSI
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- Probiotic Ingredients Market by Function, Application, End Use, Ingredient, and by Region - Global Trends & Forecast to 2020