Italian tomato producer Gruppo Mutti closed 2023 with a turnover of €665 million, reflecting an 18% increase over the previous year.
Sales volumes increased to 350,000 tonnes, EBITDA was up by 17% to €52.2 million, while the net financial position of the business also improved.
A Wider Range
The Parma-based company attributes its growth to several factors, including the launch of fresh soups and chilled products, along with a wider range of ready-made sauces, including Mutti Ragu, a 100% vegetable ragu, which has seen a significant increase in production volume.
This success has also been fuelled by a growing export market, which now accounts for more than half (53%) of total sales, equating to €353 million, surpassing domestic sales for the second year in a row.
Mutti holds a leadership position in seven European countries, namely, Sweden, Denmark, Norway, Finland, Slovenia, and the Netherlands.
France A Key Market
France solidified its position as the group's second-largest market, behind only Italy. Sales in France increased significantly, from €56.1 million in 2022 to €71.5 million at the end of 2023.
Growth was seen across the board, in both the tomato derivatives market (with a value sales increase of 21.6%) and ready-made sauces (which grew by 17% in 2023, compared to 2022).
The brand also showed a strong performance in Germany, where its new commercial headquarters was recently opened in Hamburg, with local turnover growing by 58% compared to 2022.
Outside Europe, Mutti recently achieved market leadership in Australia and continues to experience strong growth in the United States, posting a 40% increase in 2023.
Mutti remains the leading tomato brand in Italy, with a market share of 33.4% and a turnover of €312 million.
To further solidify its position, Mutti has announced a new €100 million investment plan for the 2024-2028 period, focusing on international expansion.
