Italy's De Cecco Sees 25% Growth in Demand For Pasta
Italian pasta maker De Cecco has seen a 25% growth in demand for its products in February and March, from home and abroad, as shoppers increasingly seek out consumer staples.
The company’s two factories in Fara San Martino and Ortona have churned out 340,000 tonnes of penne, tagliatelle and spaghetti in the last two months, 70,000 more than a year ago, the company said.
As a result, the company's goal to exceed €500 million in revenue within the next financial year appears to be more and more within reach, it said.
Speaking to Corriere della Sera, CEO Filippo Antonio De Cecco said that the company's production lines are “under tremendous pressure”, with eight out of twelve lines at Fara San Martino working on a continuous cycle.
In addition, factories are working at full speed on Saturdays and Sundays.
De Cecco ended 2019 with an operating profit of €21 million, an increase of €4 million compared to 2018. Turnover in the period increased from €457 million to €482 million, while EBITDA surpassed €53 million (€49 million in 2018).
De Cecco is the third biggest pasta producer in the world, after Barilla and Spain’s Ebro Foods.
For its part, Barilla announced earlier this month it will invest €130 million in Russia to build a new production site and mill to grind durum wheat, reports Gazetta di Parma.
The aim of the Parma-based company is to strengthen its presence in Russia, where the pasta business is growing 16% a year.
Barilla already has a factory in Solnechnogorsk, and the new production site will be opened in Stupino Quadrat, near Moscow.
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