One-off items have hit Parmalat’s third-quarter net profit although the Italian dairy group did see its EBITDA increase.
Parmalat, which is controlled by French dairy giant Lactalis, booked net profit of EUR58m (US$73.8m), against EUR75.4m a year earlier. However, EBITDA was up 22.8% at EUR115.8m on the back of price increases, control of overheads and the benefit of foreign exchange.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Net revenue rose 27% to EUR1.41bn thanks in part to the impact of Lactalis’s operations in the Americas, which the French group transferred to Parmalat earlier this year.
Parmalat also forecast annual EBITDA of EUR430-440m, compared to EUR374.1m in 2011.
An Italian court last month started to look into the transfer of Lactalis American Group to Parmalat after investors raised concerns about the transaction.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
