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Fine Foods & Pharmaceuticals Ntm
Annual Report • Mar 13, 2025
4495_rns_2025-03-13_93ea9688-e305-430d-8d5d-814ff2ee27cf.pdf
Annual Report
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Name Surname Role The Board of Directors of Fine Foods & Pharmaceuticals N.T.M. S.p.A. today reviewed and approved the Draft Financial Statements and Consolidated Financial Statements as of 31 December 2024.
Adjusted EBITDA 2024 to €33.2 million, +28.4% and margins of 13.6%, +340 bps
eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il
invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Highlights
Company
- Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero • Consolidated Revenue for 2024 was €243.8 million, slightly down from €251.8 million in 2023.
- maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore • Adjusted EBITDA1 reached €33.2 million, up 28.4% from €25.8 million in the previous financial year. The Group's EBITDA1 in 2024 was €30.4 million, with a 37% increase from €22.3 million in 2023.
Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil
- solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur • Adjusted EBITDA Margin was 13.6% in 2024, with a significant improvement from 10.3% in 2023. The Group's EBITDA Margin in 2024 was 12.5% (8.8% in 2023).
- magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam • Adjusted EBIT was €17.4 million and showed strong growth (+79.4%) compared to €9.7 million in 2023. The Group's EBIT in 2024 was €14.6 million, with a large increase from €1.1 million in 2023.
- estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, • Adjusted Income Before Taxes was €14.6 million, with a marked improvement from €6.8 million in 2023. The Group's Income Before Taxes in 2024 was €11.8 million, compared to €-1.9 million in the previous year.
- simus. Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. • Adjusted Result for the Period was €10.2 million compared to €4.9 million in 2023. The Result for the Period was €8.2 million, marking a significant improvement from €-3.5 million in 2023.
- Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin • The Group's Net Financial Position as of 31 December 2024 was €35.3 million, with an improvement on the value as of 31 December 2023 of €43.6 million.
- cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo • Proposed distribution of a dividend of €0.14 per ordinary share (for a maximum of €3.8 million), up 16.7% if compared to the previous financial year, using part of the merger surplus reserve.
offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae.
***
Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro Verdellino (Bergamo, Italy), 13 March 2025 - The Board of Directors of Fine Foods & Pharmaceuticals N.T.M. S.p.A. - an Italian independent Contract Development & Manufacturing Organisation (CDMO) specialising in the contract development and manufacturing of products for the nutraceutical, pharmaceutical, and cosmetics industries, listed on Euronext STAR Milan (ticker: FF) today approved the Fine Foods Draft Financial Statements and the Group's Consolidated Financial Statements as of 31 December 2024.
velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid The 31 December 2024 Consolidated Financial Statements have been prepared under the International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and the interpretations of the IFRS Interpretations Committee (IFRSIC) and the Standing Interpretations Committee (SIC), recognised in the European Union under (EC) Regulation no. 1606/2002 and effective at the end of the financial year. The Statements are subject to audit.
earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. FY2024 showed Consolidated Revenue of €243.8 million, slightly down by 3.2% compared to €251.8 million in 2023 - a year that saw strong growth following the contraction of previous years.
1 EBITDA is the operating result (EBIT) before depreciation, amortisation and impairment losses. Adjusted EBITDA was calculated net of non-recurring items recorded in the period.
Name Surname Role Company Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero Fine Foods & Pharmaceuticals N.T.M. S.p.A. Managing Director Pietro Oriani said: "The fourth quarter of 2024, outperforming the previous quarters of the year, was the strongest on record and enabled the financial year to close with only a slight decline in revenue compared to the outstanding results of 2023, despite the internal and external factors. The markets in which we operate continue to demonstrate growth potential at European and global levels. In response, we have been expanding and optimising our production capacity. We operate 144 production lines across our three specialised plants dedicated to Nutra, Pharma, and Cosmetics. Having said that, we can confidently approach the coming years and sustain our historical growth trends. We plan to drive revenue growth by acquiring new customers and expanding our product portfolio for the 130+ customers with whom we already collaborate. Additionally, we drive margin improvements by strengthening our organisational structure."
maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat The Pharma Business Unit, which contributes 31.1% of revenue, maintained its growth momentum, achieving a turnover of €75.8 million—an increase of 11.5% compared to 2023. Nutra Business Unit, which accounted for 58.3% of revenue recorded €142.2 million in 2024, reflecting a slight decline of 6.7% compared to €152.4 million in the previous year. This slowdown was due to the temporary realignment of certain customers' inventories, a trend that was already highlighted during 2024. Revenue for the Cosmetics Business Unit was €25.8 million, down from €31.5 million in the previous year. This decline was mainly due to the postponement of new business development and a strategic revision of the customer portfolio, undertaken as part of the unit's restructuring.
estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, simus. Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Fine Foods' diversified business model, spanning three distinct Business Units, provides resilience and overall stability to the top line. The growth in the Pharma Business Unit partially offset the adjustment trends observed in the Nutra and Cosmetics BUs.
Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet Industrial Added Value (IAV), which is the difference between revenue and costs related to raw material consumption, changes in inventories of finished goods, and work in progress, is an indicator of the Group's performance. In 2024, IAV reached €102.6 million, representing a 9.6% improvement compared to €93.6 million in 2023.
haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma As in 2023, non-recurring expenses were incurred in 2024, impacting EBITDA and relating to the parent company, Fine Foods, for a total of €2.8 million relating to severance notice and incentives for certain executives, a non-competition agreement signed with the former CEO, and the allocation of a risk provision for pay differences.
conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea In 2024, the Group's Adjusted EBITDA was €33.2 million, up 28.4% from €25.8 million in the previous year. Adjusted EBITDA Margin improved considerably from 10.3% in 2023 to 13.6% in 2024.
vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime The combined Adjusted EBITDA of the Pharma and Nutra BUs increased by 39.9% compared to 2023 and was €33.6 million (€24 million in 2023), of which €23.8 million was attributable to the Nutra BU and €9.9 million to the Pharma BU. Despite improving from the second half of 2024, Cosmetics BU Adjusted EBITDA showed a negative balance of €0.5 million (€+1.8 million in 2023).
eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis EBITDA grew by 37% to reach €30.4 million in 2024, up from €22.3 million in 2023, with the EBITDA margin increasing from 8.8% in 2023 to 12.5% in 2024.
dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. This strong performance was driven by the benefits of the revised pricing strategy introduced in the second half of 2023. Additionally, the Group's enhanced profitability reflects the ongoing efficiency programmes implemented by Fine Foods, which have contributed to improving operating efficiency and reinforcing its competitive position.
As of 31 December 2024, the Group employed 779 people, continuing its strategy of workforce expansion and development.
Name Surname Role Company Pietro Oriani said: "People remain at the heart of our success. We are committed to investing in their wellbeing and professional growth, recognising the vital role they play within the Group. We are proud of having delivered more than 29,000 hours of training, encompassing courses and seminars that engage all company levels. Our goal is to enhance technical expertise while ensuring continuous updates on quality, safety, and ESG matters."
Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Adjusted EBIT for 2024 was €17.4 million, reflecting a 79.4% increase from €9.7 million in 2023. EBIT was €14.6 million in 2024 ( €1.1 million in 2023).
invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum Adjusted Income Before Taxes reached €14.6 million in 2024, marking a 115.1% increase compared to €6.8 million in 2023. The Group's Income Before Taxes in 2024 was €11.8 million, which was a remarkable turnaround from the previous year's figure of €-1.9 million.
facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi FY2024 ended with an Adjusted Net Profit of €10.2 million (€4.9 million in 2023), and a Net Profit of €8.2 million, with a significant improvement compared to the net loss of €3.5 million in 2023 The 2023 net profit was positively impacted by the Parent Company's asset securities management (positive fair value change of € 1.7 million), which was concluded in 2024, without any significant impact on the Income Statement.
ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, simus. Tangible Fixed Assets increased by approximately €19.2 million in 2024, due to net investments of €33,6 million and amortisation, depreciation, and impairment losses for the period of about €14.4 million. In 2024, extraordinary investments of €25.8 million were made to expand the pharmaceutical and nutraceutical plants.
Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Intangible assets and rights of use were €16 million as of 31 December 2024, remaining largely unchanged from the previous year (€16.3 million).
Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Other non-current assets declined, mainly due to the use of deferred tax assets associated with past tax losses (IRES) by the Parent Company.
archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same Working Capital was €23.4 million as of 31 December 2024, down from €42.6 million as of 31 December 2023. As the end of 2024 financial year, Commercial Net Working Capital declined to €32.9 million from €48.1 million as of 31 December 2023. This was driven by a reduction in inventories (from €42.4 million to €31.9 million) and an increase in trade payables (from €32.7 million to €36.6 million). Other current liabilities increased mainly due to higher accruals of deferred income.
nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea Shareholders' Equity as of 31 December 2024 was €132.1 million (€126.9 million as of 31 December 2023).
iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil The Group's Net Financial Position was €35.3 million as of 31 December 2024, with an approximate €8.2 million improvement compared to the previous year (€43.6 million). Operations generated a positive cash flow of €50.8 million before capital expenditure. This was mainly offset by net investments (€34.7 million) made in the period, financial charges and tax payments (€6.5 million), and dividend distribution (€2.9 million).
endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime EVENTS FOLLOWING THE END OF THE PERIOD
id moluptatur.
eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. The Shareholders' Meeting of Fine Foods & Pharmaceuticals N.T.M. S.p.A., held on a single call, resolved to appoint EY S.p.A., the Company's auditing firm, to issue a report certifying compliance with sustainability reporting under Legislative Decree no. 125/2024 for the financial years 2024-2026.
The Shareholders' Meeting confirmed the appointment of Fine Foods' General Manager Pietro Oriani as a member of the Company's Board of Directors. Oriani was appointed by co-optation under Article 2386 of the Italian Civil Code and will serve until the approval of the Financial Statements as of 31 December 2026. Following the Shareholders' Meeting, the Board of Directors, having verified that Oriani meets the necessary
Name Surname Role Company requirements for the role of Director, unanimously resolved to appoint him as Fine Foods Managing Director, granting him the relevant powers and authority. Oriani assumed the roles of Chief Executive Officer, Investor Relations Officer, and member of the ESG Committee.
BUSINESS OUTLOOK
Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore The market segments in which the Group operates are expected to grow in the coming years, in Europe and globally. The trend of major industry players outsourcing nutraceutical, pharmaceutical, and cosmetics production to subcontractors was confirmed. Fine Foods & Pharmaceuticals N.T.M. S.p.A. aims to strengthen its competitive position by expanding its market share across its three core business units—Nutra, Pharma, and Cosmetics—enhancing their synergies. The Group is attentive to potential growth opportunities through acquisitions.
solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi The Nutra BU will maintain its focus on quality, innovation, and the development of advanced services to support its customers. The planned production capacity expansion, initiated in 2024 with the purchase of land, was confirmed, with initial investments scheduled for 2025 to extend the production facility.
ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, In 2025, the Pharma BU will continue to focus on managing the anticipated strong growth from significant multi-year agreements signed with key international customers. The production plant expansion, which started at the end of 2023, is progressing as planned and will be completed in 2025, with revenues expected to start in 2026.
simus. Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin Following a phase of integration, reorganisation, and optimisation—supported by targeted investments and the appointment of experienced industry professionals—the Cosmetics BU is beginning to show positive signs. A gradual improvement in revenue and profit margins is anticipated in 2025, contributing positively to the Group's overall performance.
cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus While, due to the nature of the business, top line growth may not be consistently visible on a quarterly basis, a strong order backlog for the current year and existing multi-year agreements support the expectation of maintaining historical revenue and margins growth trends. This is underpinned by an increasingly strong and reliable organisational structure.
plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same The Group will continue its commitment to sustainability, reinforcing its position as a trusted partner by offering solutions that align with rising market expectations.
nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea
iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro REPORT ON CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE AND CONSOLIDATED SUSTAINABILITY REPORT
velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime The Board of Directors approved the Report on Corporate Governance and Ownership Structure under Article 123-bis of the TUF (Consolidated Law on Financial Intermediation), and the consolidated Sustainability Report which implemented the relevant EU regulations under Legislative Decree no. 125/2024.
eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid
earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis PROPOSED DIVIDEND DISTRIBUTION
dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. For the next Shareholders' Meeting, convened on 17 April 2025, on a single call, the Board of Directors proposes the distribution of a dividend of €0.14, gross of withholding taxes, for each ordinary share (net of treasury shares) outstanding at the record date.
The total dividend is approximately €3.8 million. The dividend will be paid by withdrawing the relevant sum from the distributable portion of the merger surplus reserve.
simus.
Name Surname Role Company Under the "Regulation of Markets organised and managed by Borsa Italiana S.p.A." and as announced, the dividend will be paid in a single instalment, with ex-dividend date on 22 April 2025, record date on 23 April 2025 and payment on 24 April 2025.
REVOCATION AND GRANTING OF NEW AUTHORISATION TO BUYBACK AND DISPOSE OF TREASURY SHARES
Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. The Board of Directors resolved to submit to the next Shareholders' Meeting the granting of a new authorisation to purchase and dispose of treasury shares, subject to revocation of the previous 29 May 2024 resolution.
maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore SHAREHOLDERS' MEETING CONVOCATION
solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur The Board of Directors resolved to call the Shareholders' Meeting, according to the financial calendar, for 17 April 2025 on a single call, with the following Agenda:
- magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi 1. 31 December 2024 Financial Statements; related and consequent resolutions:
- ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, 1.1 Approval of the 31 December 2024 Company Financial Statements and the Board of Directors' Report on Operations; Acknowledgement of the Board of Statutory Auditors and Auditing Company Reports. Presentation of Consolidated Financial Statements as of 31 December 2024 including the report certifying compliance with sustainability reporting under Legislative Decree no. 125/2024;
Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero
- 1.2 Allocation of the result for the year.
- Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. 2. Dividend distribution. Related and consequent resolutions.
- Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin 3. Report on remuneration policy and compensation under Article 123-ter, paragraphs 3-bis and 6 of Legislative Decree no. 58/1998:
- cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea 3.1 First Section: report on remuneration policy. Binding resolution;
- archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo 3.2 Second Section: report on remuneration paid. Non-binding resolution.
- offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. 4. Authorisation to buy and dispose of treasury shares under articles 2357 and 2357-ter of the Civil Code, subject to the revocation of the unexecuted part of a previous Shareholders' Meeting authorisation dated 29 May 2024. Related and consequent resolutions.
nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea Further information will be made available with the publication of the Notice of Call under applicable regulations' methods and deadlines.
Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same
iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia ***
con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil id moluptatur. endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. Annexes: Consolidated income statement Consolidated comprehensive income statement Consolidated statement of financial position Consolidated cash flow statement Consolidated Shareholders' equity changes Fine Foods income statement Fine Foods comprehensive income statement Fine Foods Statement of financial position Fine Foods cash flow statement Fine Foods Shareholders' equity changes
Name Surname Role Company Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Under paragraph 2 of Article 154-bis of Legislative Decree no. 58 of 24 Februrary 1998 ("TUF" - Consolidated Law on Financial Intermediation), the Manager in charge of preparing the Company's financial reports, Pietro Bassani, certifies that the accounting information contained in this press release corresponds to the documented results, books and accounting records. This press release is available on the website www.finefoods.it, in the Investor Relations/Press Releases section. The presentation of the 31 December 2024 results is available at www.finefoods.it (Investor Relations/Presentations section). Under Article 154-ter, paragraph 2, of the TUF, the Annual Financial Report, including the Consolidated Financial Statements as of 31 December 2024, the Company draft Financial Statements as of 31 December 2024, the Management Report, including the consolidated Sustainability Report, which implemented the relevant EU regulations, under Legislative Decree no. 125/2024, along with the Reports prepared by the Auditing Company and the Board of Statutory Auditors and the documentation for the Meeting will be made available to the public within regulatory and legal deadlines at the Company's registered office, on the Company's website at www.finefoods.it, in the Governance/Shareholders' Meeting section and on the authorised storage system managed by Computershare S.p.A. at .
dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet dercill itiatem cum que doluptur magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam ***
solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a
estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni tem etum laborat estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, simus. Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Fine Foods & Pharmaceuticals N.T.M. S.p.A., listed on Borsa Italiana's Euronext STAR Milan (Ticker: FF), is an Italian independent Contract Development & Manufacturing Organisation (CDMO). It develops and manufactures contract products for the nutraceutical, pharmaceutical and cosmetics industries. Founded in 1984, Fine Foods proved to be a reliable and capable strategic partner for customers in the reference sectors. The company's organisation can provide successful design process and solid, long-term partnerships. The continuous search for excellence is part of the company's business model and includes research and development, innovation, process reliability, product quality, ESG, and sustainable management of the Group's supply chain. Fine Foods is a benefit corporation which relies on certifications and ratings under international standards. These guarantee its sustainability commitment across the business. Fine Foods is a growing and future-oriented company.
conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil
eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit
harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci.
endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime
archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma For further information: Fine Foods & Pharmaceuticals N.T.M. S.p.A. Tel +39 035 4821382 Investor Relations: [email protected] Media Relations: [email protected]
id moluptatur.
Role
Name Surname Consolidated income statement
| Company | Year ended 31 December | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil Revenue and income |
|||
| eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Revenue from contracts with customers |
243,752,830 | 251,811,791 | |
| invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Other revenue and income |
1,317,440 | 1,095,196 | |
| Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero Total revenue |
245,070,270 | 252,906,988 | |
| maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum | |||
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Operating costs |
|||
| solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a Costs for consumption of raw materials, change in inventories of finished goods and work in progress. dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet |
141,136,684 | 158,188,424 dercill itiatem cum que doluptur |
|
| Personnel costs | 47,623,798 | 44,431,271 | |
| magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi Costs for services |
23,770,730 | 25,888,270 | |
| ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam Other operating costs |
2,118,683 | 2,129,576 | |
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic Amortisation, depreciation, and impairment losses |
15,776,371 | 21,203,442 | |
| ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni Total operating costs |
230,426,267 | tem etum laborat 251,840,983 |
|
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Operating result |
14,644,003 | 1,066,005 | |
| simus. | |||
| Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Changes in fair value of financial assets and liabilities |
(12,881) | 1,703,519 | |
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Financial income |
699,711 | 339,524 | |
| Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin Financial charges |
(3,498,895) | (4,964,248) | |
| cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Income before taxes |
11,831,939 | (1,855,199) | |
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo Income taxes |
3,676,060 | 1,666,899 | |
| offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet Profit/(loss) for the financial year |
8,155,879 | (3,522,098) | |
| haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus Earnings/(loss) per share |
|||
| plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Basic – profit for the year attributable to the Company ordinary shareholders |
0.32 | (0.14) | |
| Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same Diluted – profit for the year attributable to the Company ordinary shareholders |
0.32 | (0.14) |
iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro Consolidated comprehensive income statement
| velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil |
2024 | 2023 |
|---|---|---|
| Profit /(loss) for the financial year (A) id moluptatur. |
8,155,879 | (3,522,098) |
| endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime Components that will not be subsequently reclassified to profit/(loss) for the financial year eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid |
||
| Revaluation of net employee benefit liabilities/assets earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis |
14,282 | (33,043) |
| Tax effect dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit |
(3,428) | 7,930 |
| harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. Other comprehensive income components (B) |
10,854 | (25,113) |
| Comprehensive profit/(loss) (A+B) | 8,166,733 | (3,547,211) |
nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea
Name Surname Consolidated statement of financial position
| Role Company |
As of 31 December |
As of 31 December |
|---|---|---|
| (amounts in € units) | 2024 | 2023 |
| Assets | ||
| Non-current assets | ||
| Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil Property, plant and machinery |
126,139,938 | 106,919,123 |
| eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il Goodwill |
11,507,954 | 11,507,954 |
| invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Other intangible fixed assets |
1,556,083 | 1,634,888 |
| Rights of use Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero |
2,906,361 | 3,165,607 |
| Other non-current assets maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum |
597,853 | 688,139 |
| Deferred tax assets | 3,451,347 | 6,234,232 |
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Total non-current assets |
146,159,536 | 130,149,943 |
| solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a Current assets |
||
| dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet Inventories |
31,908,612 | dercill itiatem cum que doluptur 42,459,682 |
| magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi Trade receivables |
37,536,476 | 38,057,766 |
| Tax receivables ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam |
17,998 | 320,689 |
| Other current assets estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic |
7,758,304 | 7,715,036 |
| Current financial assets | - | 3,832,865 |
| ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni Cash and other liquid assets |
19,210,213 | tem etum laborat 19,000,047 |
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Total current assets |
96,431,604 | 111,386,085 |
| simus. | ||
| Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Total assets |
242,591,140 | 241,536,028 |
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? | ||
| Shareholders' equity Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin |
||
| Share Capital cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea |
22,770,445 | 22,770,445 |
| Other reserves | 102,919,409 | 114,167,028 |
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo Employee benefit reserve |
191,928 | 181,073 |
| offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet FTA reserve |
(6,669,789) | (6,669,789) |
| haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus Profits carried forward |
4,691,909 | 22,610 |
| Profit/(loss) for the financial year plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. |
8,155,879 | (3,522,098) |
| Total Shareholders' Equity Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same |
132,059,779 | 126,949,268 |
| nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma | ||
| Non-current liabilities conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea |
||
| Non-current bank borrowings | 34,987,777 | 9,734,877 |
| iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea Employee benefits |
2,143,626 | 2,201,653 |
| Provision for risks and charges vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro |
1,600,000 | 2,105 |
| Provision for deferred taxes velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia |
284,042 | 263,381 |
| Non-current lease payables con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil |
847,512 | 1,032,604 |
| Total non-current liabilities id moluptatur. |
39,862,958 | 13,234,620 |
| endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime Current liabilities |
||
| eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid Bonds |
||
| Current bank borrowings | 18,367,370 | 55,269,592 |
| earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis Trade payables |
36,555,144 | 32,369,462 |
| dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit Taxes payable |
219,112 | 575,488 |
| harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. | ||
| Current lease payables | 325,230 | 354,377 |
| Other current liabilities | 15,201,547 | 12,783,221 |
| Total current liabilities | 70,668,403 | 101,352,140 |
| Total Shareholders' equity and Liabilities | 242,591,140 | 241,536,028 |
Role
Name Surname Consolidated cash flow statement
| Company | 31 December | Year ended |
|---|---|---|
| (amounts in € units) | 2024 | 2023 |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 8,155,879 | (3,522,098) |
| Adjustments to reconcile profit after tax with net cash flows: Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil |
||
| Depreciation and impairment of property, plant and machinery eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il |
14,394,213 | 14,756,626 |
| Amortisation and impairment of intangible fixed assets invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. |
917,131 | 887,277 |
| Amortisation of rights of use Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero |
462,004 | 1,159,538 |
| Other write-downs of fixed assets maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum |
3,023 | 4,400,000 |
| Impairment of financial receivables | - | - |
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Financial income |
(699,711) | (339,524) |
| solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a Financial charges |
3,439,943 | 4,916,704 |
| dolenimilit lam as volo quid eossincium, ut labo. Ehendicat officet Changes in fair value of financial assets and liabilities |
12,881 | dercill itiatem cum que doluptur (1,703,519) |
| magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi Financial charges on financial liabilities for leases |
58,951 | 47,544 |
| ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam Income taxes |
952,274 | 557,982 |
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic Gains on the disposal of property, plant and machinery |
(118,199) | (26,247) |
| ipiciet am dolupid quia digent fugias eostia nossecus, invero od essit,i officeni Current assets write-downs |
455,149 | tem etum laborat 762,713 |
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Net change in severance indemnity and pension funds |
(106,848) | (324,435) |
| simus. Net change in provisions for risks and charges |
1,597,895 | (39,000) |
| Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Net change in deferred tax assets and liabilities |
2,800,118 | 1,108,918 |
| Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? Interest paid |
(2,736,085) | (4,550,692) |
| Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin Income taxes paid |
(1,259,340) | - |
| cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea Changes in working capital: |
||
| archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo (Increase)/decrease in inventories |
10,325,127 | (2,453,558) |
| offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet (Increase)/decrease in trade receivables |
292,083 | 943,218 |
| haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus (Increase)/decrease in other non-financial assets and liabilities |
2,718,725 | 3,037,755 |
| plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Increase/(decrease) in trade payables |
4,185,682 | (1,081,006) |
| NET CASH FLOWS FROM OPERATING ACTIVITIES Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same |
45,850,897 | 18,538,195 |
| nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma Investments: |
||
| Investments in tangible fixed assets conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea |
(33,889,860) | (18,126,331) |
| Disposal of tangible fixed assets iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea |
390,009 | 638,881 |
| Investments in intangible fixed assets | (838,323) | (741,615) |
| vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro Net (investments)/disposals in financial assets |
2,780,735 | 64,116,756 |
| velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia NET CASH FLOWS FROM INVESTMENTS |
(31,557,438) | 45,887,691 |
| con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil Financing: |
||
| id moluptatur. New financing |
1,511,921 | 2,303,613 |
| endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime Funding repayment and bonds |
(12,121,995) | (54,519,856) |
| eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid Principal payments - lease liabilities |
(416,997) | (648,576) |
| earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis Dividends paid to the parent company's shareholders |
(2,937,895) | (2,452,708) |
| dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit Sale/(purchase) of treasury shares |
(118,327) | (340,575) |
| harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci. CASH FLOWS FROM FINANCING |
(14,083,292) | (55,658,102) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 210,167 | 8,767,784 |
| Cash and short-term deposits as of 1 January | 19,000,047 | 10,232,262 |
| Cash and short-term deposits as of 31 December | 19,210,213 | 19,000,047 |
Fine Foods & Pharmaceuticals N.T.M. S.p.A. Via Berlino, 39 Zingonia-Verdellino 24040 (BG) Italia T. +39 035 4821382 [email protected]
id moluptatur.
Name Surname Consolidated Shareholders' equity changes
| Role Company |
Share Capital |
Legal reserve |
Negative reserve for treasury shares in the portfolio |
Merger surplus reserve |
Share premium reserve |
Extraordinary reserve |
Other reserves |
FTA reserve | Employee benefit reserve |
Profits/losses carried forward |
Profit/loss for the financial year |
Total Shareholders' equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance as of 31 December 2022 Mus. Optas et maximus, tem il ium et a nestorem acese laudisi tatur, aut que eost hil |
22,770,445 | 5,000,000 | (13,680,454) | 29,741,389 | 86,743,750 | 14,240,490 | 4,416,281 | (6,669,789) | 206,186 | 22,610 | (9,501,145) | 133,289,763 |
| Profit/(loss) for the financial year eatiur aut doluptur rest, volorpo rehenem. Itati volut eaque estiist pediscipsum il mil ipsam il |
(3,522,098) | (3,522,098) | ||||||||||
| invenducilla esse pra con pliquun tiatur, te volorer ovidund electium resciat. Other income statement components |
(25,113) | (25,113) | ||||||||||
| Atiosa autatem poribus ellaccum, sum secto vellatiam, utaturiorum am, quat quaspero Comprehensive profit/(loss) |
- | - | - | - | - | - | - | (25,113) | - | (3,522,098) | (3,547,211) | |
| maio. Temperum harum qui to conem a abor sunt, odi atureic temo esciaspedis quiassum eum Dividends |
(2,452,708) | (2,452,708) | ||||||||||
| facitas mi, sint, ommoluptatur aut pernatiist fugia quidene modioriatium facepudis ut ommolore Purchase of treasury shares |
(340,575) | (340,575) | ||||||||||
| solupta erspis quiducilles magnam ium et ad earchit atioremqui arum sunt hit, qui sin nost a 2021 profit allocation dolenimilit lam as volo quid |
eossincium, | ut labo. |
Ehendicat | officet dercill |
itiatem | (9,501,145) cum que |
doluptur | 9,501,145 | - | |||
| Balance as of 31 December 2023 magnihi ciurit odi voluptia venimol ecaesen delesen desciae caborit enimetureped quidel modi |
22,770,445 5,000,000 | (14,021,029) | 29,741,389 | 86,743,750 | 2,286,638 | 4,416,281 | (6,669,789) | 181,073 | 22,610 | (3,522,098) | 126,949,268 | |
| ut que sumquam, tem aut ipsum nonem est lit mo qui inihita nobis enturibusam velent quam Profit/(loss) for the financial year |
8,155,879 | 8,155,879 | ||||||||||
| estrumetur abo. Ut alis eum as et esti sit ut harum eum aut eaquis is repti cust abore ni omnihic Other income statement components |
10,854 | 10,854 | ||||||||||
| ipiciet am dolupid quia digent Comprehensive profit/(loss) |
fugias - |
eostia - |
nossecus, invero - |
od essit,i - |
officeni - |
tem etum - |
laborat - |
- | 10,854 | - | 8,155,879 | 8,166,733 |
| estrum quodic tet iuntest, quo omnimus reptas eosapitiis dolupta tecullam eum, od modipissunt, Dividends |
(2,937,895) | (2,937,895) | ||||||||||
| simus. Equity reclassification |
(754,088) | 754,088 | - | |||||||||
| Mo el eum faciden imusam et aut volupta turepedi cus verum adis nobit, qui doluptat. Purchase of treasury shares Mincium et eiciet pro cus mod ut lacimag natent quam et et est, in nobit eate parchic totatur? |
(118,327) | (118,327) | ||||||||||
| 2023 profit allocation Equam, odit magnistisint alit rati am atus accuptaeped millaborem voluptaquo debisciis nimin |
(7,437,309) | 3,915,211 | 3,522,098 | - | ||||||||
| Balance as of 31 December 2024 cuptas nimusdam nonecea non perem int, voloreptatus re voles elenemq uatempe re nis ea |
22,770,445 | 5,000,000 | (14,139,356) | 19,366,185 | 86,743,750 | 1,532,549 | 4,416,281 | (6,669,789) | 191,928 | 4,691,909 | 8,155,879 | 132,059,780 |
nonet volum doluptia quas re ped quaspicipsum dolupta quossitia doluptur saperae volorro ma conseni quaeser ionserr ovitatempor sitio core quatius prorem quis sinctam, sum quia il eatis ea iducienduci tore anda dolor sequi que acea dia deleniaspero core quis et laccaborenti doloraesecea Fine Foods & Pharmaceuticals N.T.M. S.p.A. Via Berlino, 39 Zingonia-Verdellino 24040 (BG) Italia T. +39 035 4821382 [email protected]
endam rent et videm et qui dis dest mod qui cum sinctur as nis arum quia excestium ime
archilia sim que autatem andaeprorent aut eumque nullate lab intemporunt elibusant perum volo offic tore occusdae. Sunte dolorib ereribusti dollupta volor arit omnimet utatem. At aut dolorectet haribusa niminullore dolor ad moluptatus utae vendae provit omnimusaesci tendus alicatibus plaboriatiur mi, cus es dolore, cum atectios exeriore conest lacernam rerist, tem et voluptae. Elesendi quis nonsequibus alitas eum que core nis accus aperum es evelect atemporendis same
vel modit idem arum fugiam eos quos reribus molor repudia simagnima endestius solupiet re pro velendanihic testiant.Hillecuptate ne nonetur? Sa sitatquiae. Liberio nectur reptatur aliquidelia con nobis eatendendit qui aut volut lateautest, consecepta velisci taquamu scient, quate in nihil
eum quo qui quas aut ant ut laborporae. Ut porum et optates mi, ommolor eperit quiassequid earunde lluptate ditatur am ut qui as ut laut ditem laborporio molorem saperessi omnissusciis dolut magnihil ini corerro es niscia natem reri qui soloratistis velita quam volo quo el et alit
harchil eum restinis experi consequam alique nonem eosam essit dolles ex erci.
CF / P.IVA IT 09320600969 CAP. SOC. € 22.770.445,02 FINEFOODS.IT
Fine Foods income statement
| Year ended 31 December |
Year ended 31 December |
|
|---|---|---|
| 2024 | 2023 | |
| Revenue and income | ||
| Revenue from contracts with customers | 217,971,583 | 220,364,619 |
| Other revenue and income | 1,063,687 | 699,985 |
| Total revenue | 219,035,270 | 221,064,604 |
| Operating costs | ||
| Costs for consumption of raw materials, change in inventories of finished goods and work in progress. |
124,800,519 | 138,243,648 |
| Personnel costs | 41,461,647 | 37,219,328 |
| Costs for services | 20,085,499 | 20,371,482 |
| Other operating costs | 1,810,815 | 1,180,540 |
| Amortisation, depreciation, and impairment losses | 13,312,217 | 13,799,196 |
| Total operating costs | 201,470,697 | 210,814,193 |
| Operating result | 17,564,573 | 10,250,411 |
| Changes in fair value of financial assets and liabilities | (12,881) | 1,703,519 |
| Equity investment income and charges | - | (13,922,188) |
| Financial income | 1,261,200 | 593,428 |
| Financial charges | (3,128,364) | (4,411,200) |
| Income before taxes | 15,684,527 | (5,786,030) |
| Income taxes | 3,647,029 | 1,651,280 |
| Profit/(loss) for the financial year | 12,037,498 | (7,437,309) |
Fine Foods comprehensive income statement
| Year ended 31 December |
Year ended 31 December |
|
|---|---|---|
| 2024 | 2023 | |
| Profit /(loss) for the financial year (A) | 12,037,498 | (7,437,309) |
| Components that will not be subsequently reclassified to profit/(loss) for the financial year | ||
| Revaluation of net employee benefit liabilities/assets | 9,319 | (15,158) |
| Tax effect | (2,237) | 3,638 |
| Other comprehensive income components (B) | 7,082 | (11,520) |
| Comprehensive profit/(loss) (A+B) | 12,044,580 | (7,448,829) |
Fine Foods Statement of financial position
| 2023 (amounts in € units) 2024 Assets Non-current assets 110,796,803 91,168,051 Property, plant and machinery 1,306,429 1,307,010 Other intangible fixed assets 143,733 87,190 Rights of use 24,951,994 24,951,994 Investments 11,000,000 11,000,000 Non-current financial assets 583,749 425,315 Other non-current assets 2,551,438 5,324,991 Deferred tax assets 151,334,146 134,264,551 Total non-current assets Current assets 27,697,069 34,105,448 Inventories 32,644,644 29,998,136 Trade receivables - 86,473 Tax receivables 7,243,968 6,353,192 Other current assets 786,107 3,888,082 Current financial assets 15,506,069 17,047,578 Cash and other liquid assets 83,877,856 91,478,911 Total current assets 235,212,002 225,743,463 Total assets Shareholders' equity 22,770,445 22,770,445 Share Capital 109,814,917 120,308,448 Other reserves 23,990 16,908 Employee benefit reserve (6,669,789) (6,669,789) FTA reserve - Profits carried forward - 12,037,498 (7,437,309) Profit/(loss) for the financial year 137,977,061 128,988,702 Total Shareholders' Equity Non-current liabilities 30,799,769 4,141,720 Non-current bank borrowings 788,435 853,729 Employee benefits 1,600,000 - Provision for risks and charges 9,213 9,441 Provision for deferred taxes 97,263 35,580 Non-current lease payables 33,294,680 5,040,471 Total non-current liabilities Current liabilities Bonds - - 17,028,200 53,335,668 Current bank borrowings 33,064,252 26,506,816 Trade payables 219,112 575,488 Taxes payable 49,090 52,804 Current lease payables 13,579,607 11,243,513 Other current liabilities 63,940,261 91,714,289 Total current liabilities 235,212,002 225,743,463 Total Shareholders' equity and Liabilities |
As of 31 | As of 31 |
|---|---|---|
| December | December | |
Fine Foods cash flow statement
| Year ended 31 December | |||||
|---|---|---|---|---|---|
| (amounts in € units) | 2024 | 2023 | |||
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 12,037,498 | (7,437,309) | |||
| Adjustments to reconcile profit after tax with net cash flows: | |||||
| Depreciation and impairment of property, plant and machinery | 12,561,544 | 13,048,935 | |||
| Amortisation and impairment of intangible fixed assets | 701,440 | 695,058 | |||
| Amortisation of rights of use | 49,233 | 55,204 | |||
| Impairment of financial receivables | - | 13,048,935 | |||
| Investment write-down | - | 13,922,188 | |||
| Financial income | (1,261,200) | (593,428) | |||
| Financial charges | 3,122,932 | 4,412,087 | |||
| Changes in fair value of financial assets and liabilities | 12,881 | (1,703,519) | |||
| Financial charges on financial liabilities for leases | 5,433 | (887) | |||
| Income taxes | 952,274 | 549,729 | |||
| Gains on the disposal of property, plant and machinery | 8,820 | (113,745) | |||
| Current assets write-downs | 374,268 | 367,270 | |||
| Net change in severance indemnity and pension funds | (82,526) | (36,290) | |||
| Net change in provisions for risks and charges | 1,600,000 | - | |||
| Net change in deferred tax assets and liabilities | 2,771,088 | 1,101,551 | |||
| Interest paid | (1,840,619) | (3,787,253) | |||
| Income taxes paid | (1,259,340) | - | |||
| Changes in working capital: | |||||
| (Increase)/decrease in inventories | 6,182,437 | (819,503) | |||
| (Increase)/decrease in trade receivables | (2,794,833) | (99,292) | |||
| (Increase)/decrease in other non-financial assets and liabilities | 1,324,048 | 2,287,600 | |||
| Increase/(decrease) in trade payables | 6,557,436 | 28,904 | |||
| NET CASH FLOWS FROM OPERATING ACTIVITIES | 41,022,813 | 21,877,299 | |||
| Investments: | |||||
| Investments in tangible fixed assets | (32,344,993) | (12,461,210) | |||
| Disposal of tangible fixed assets | 145,880 | 289,432 | |||
| Investments in intangible fixed assets | (700,856) | (530,560) | |||
| Net (investments)/disposals in financial assets | 3,089,095 | 53,116,756 | |||
| NET CASH FLOWS FROM INVESTMENTS | (29,810,874) | 40,414,417 | |||
| Financing: | |||||
| New financing | 424,887 | 2,117,638 | |||
| Funding repayment and bonds | (10,074,306) | (50,766,321) | |||
| Principal payments - lease liabilities | (47,807) | (57,638) | |||
| Dividends paid to the parent company's shareholders | (2,937,895) | (2,452,708) | |||
| Sale/(purchase) of treasury shares | (118,327) | (340,575) | |||
| CASH FLOWS FROM FINANCING | (12,753,449) | (51,499,335) | |||
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (1,541,510) | 10,792,382 | |||
| Cash and short-term deposits as of 1 January | 17,047,578 | 6,255,196 | |||
| Cash and short-term deposits as of 31 December | 15,506,069 | 17,047,578 |
Fine Foods Shareholders' equity changes
| Share Capital |
Legal reserve |
Negative reserve for treasury shares in the portfolio |
Merger surplus reserve |
Share premium reserve |
Extraordinary reserve |
Other reserves |
FTA reserve | Employee benefit reserve |
Profits/losses carried forward |
Profit/loss for the financial year |
Total Shareholders' equity |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance as of 31 December 2022 | 22,770,445 | 5,000,000 (13,680,454) | 29,741,389 | 86,743,750 | 11,569,401 | 11,311,789 | (6,669,789) | 28,428 | - | (7,584,144) | 139,230,815 | |
| Profit/(loss) for the financial year Other income statement components |
(11,520) | (7,437,309) | (7,437,309) (11,520) |
|||||||||
| Comprehensive profit/(loss) | - | - - |
- | - - |
- | - | (11,520) | - | (7,437,309) | (7,448,829) | ||
| Dividends Stock Grant |
(2,452,708) | (2,452,708) | ||||||||||
| Purchase of treasury shares | (340,575) | (340,575) | ||||||||||
| Warrant exercise Allocation of the 2022 financial year result |
(7,584,144) | 7,584,144 | - - |
|||||||||
| Balance as of 31 December 2023 | 22,770,445 | 5,000,000 (14,021,029) | 29,741,389 | 86,743,750 | 1,532,549 11,311,789 | (6,669,789) | 16,908 | - | (7,437,309) | 128,988,702 | ||
| Profit/(loss) for the financial year Other income statement components |
7,082 | 12,037,498 | 12,037,498 7,082 |
|||||||||
| Comprehensive profit/(loss) | - | - - |
- | - - |
- | - | 7,082 | - | 12,037,498 | 12,044,580 | ||
| Dividends Stock Grant |
(2,937,895) | (2,937,895) - |
||||||||||
| Purchase of treasury shares | (118,327) | (118,327) | ||||||||||
| Warrant exercise Allocation of the 2023 financial year result |
(7,437,309) | 7,437,309 | - - |
|||||||||
| Balance as of 31 December 2024 | 22,770,445 | 5,000,000 (14,139,356) | 19,366,185 | 86,743,750 | 1,532,549 11,311,789 | (6,669,789) | 23,990 | - | 12,037,498 | 137,977,061 |