Ferrero Sees Slight Increase In Operating Profit
The Italian activities of the Ferrero Group generated an operating profit of €223.3 million in the 2019/20 financial year.
This represents an increase of €1.1 million on the previous year, according to data published by Ferrero SpA, the holding company of the group's Italian activities.
Subsidiary Ferrero Commerciale Italia, responsible for the distribution and sale of confectionery and other products and for marketing activities, achieved a profit of €36.3 million (+€1.2 million), while turnover grew 3.5% to €1.52 billion during the fiscal year.
The contribution of the Nutella brand, both with its classic hazelnut spread and with the new Nutella Biscuits SKU, were a key driver of the group's performance, according to the company.
Ferrero Industriale Italiana reported sales of €678.1 million (+8.9%) with a profit of €50.7 million (+€7 million). The company is responsible for the four Italian production facilities (Alba, Pozzuolo Martesana, Balvano and Sant'Angelo dei Lombardi) in which it invested €125 million during the financial year.
Over the last decade, overall investments made by the Ferrero Group in Italy amounted to €1.2 billion.
Ferrero SpA has also appointed the new board of directors with the confirmation of Bartolomeo Salomone as chairman. The board is also composed of Alessandro d’Este, Gian Mauro Perrone, Bruno Ferroni, Massimo Micieli and Gianluca Bassi.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine