30.10.2020

Good third-quarter results endorse the sustainability of our model

Our Group’s third-quarter has ended on an extremely positive note, with sales growing by 19.2-% to a cumulative total of €2,425.3 million for the year and A-EBITDA of €327.1 million, a 38-% increase over 2019.
 
Though there have been no lockdowns this quarter, the pandemic has still resulted in large peaks in demand from time to time. We have been able to deal with the situation successfully thanks to our organisation and production capacity, to careful decision-making, to a broad and diversified product line and supply chain, and above all to the professionalism and strong commitment of our employees.
 
These good results are also the outcome of having made the right strategic decisions, such as the Tilda acquisition, and the solid positioning of all our brands, with both our rice division and our pasta division gaining market share in most of the countries where we do business.
 
This upward trend has led us to forecast earnings on the order of between €3,150 and 3,200 million by year’s end, a testimonial to the strength and sustainability of our company.