Centrale Del Latte D'Italia

Earnings Release • Sep 9, 2025

Informazione Regolamentata n. 0474-36-2025	Data/Ora Inizio Diffusione 9 Settembre 2025 07:26:33		Euronext Star Milan
Societa'	:	CENTRALE DEL LATTE D'ITALIA
Identificativo Informazione Regolamentata	:	209771
Utenza - referente	:	CENTRALEN01 - Pisoni Veronica
Tipologia	:	1.2
Data/Ora Ricezione	:	9 Settembre 2025 07:26:33
Data/Ora Inizio Diffusione	:	9 Settembre 2025 07:26:33
Oggetto	:	CLI - Approval of H1 2025
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CENTRALE DEL LATTE D'ITALIA S.P.A. APPROVES THE HALF-YEAR FINANCIAL REPORT AS AT 30 JUNE 2025 GROWING REVENUE AND MARGINS

• Revenues: € 171.8 million (+3.7% vs. € 165.7 million at 30.06.2024)
• EBITDA: € 15.2 million (-4.8% vs. € 16 million at 30.06.2024)
• Net profit: € 4.6 million (-3.3% vs. € 4.8 million at 30.06.2024)
• Net financial debt (post IFRS 16 application) equal to € -38.1 million, compared to € -38.03 million at 31 December 2024

Turin, 9 September 2025 – The Board of Directors of Centrale del Latte d'Italia S.p.A. ("CLI" or the "Company"), the third Italian player in the fresh and long-life milk market, has approved the Half-Year Financial Report as at 30 June 2025.

The Company recorded revenues of € 171.8 million in the first half of 2025, compared to € 165.7 million at 30 June 2024, with an increase of 3.7%.

The EBITDA of the first half stands at € 15.2 million, against the € 16 million reported at 30/06/2024, with a margin of 8.8%, down compared to the 9.6% margin reported in the first half 2024. EBIT at 30/06/2025 is equal to € 6.9 million, down compared to € 8.3 million as at 30/06/2024.

As a result of these significant performances, the Company recorded, in the first half of 2025, an after-tax net profit of € 4.6 million, against € 4.8 million at 30/06/2024.

The net financial position of CLI remained stable, as it went from € -38.03 million at 31/12/2024 to € -38.1 million as at 30/06/2025.

Analysis of revenues

In the first half of 2025, CLI achieved revenues of € 171.8 million, as follows broken down by business lines:

Revenues by Business Unit

	At 30 June				Change
(In € thousands and as a percentage)	2025	%	2024	%	2025vs2024	%
Milk Products	130,735	76.1%	128,544	77.6%	2,191	1.7%
Dairy Products	33,809	19.7%	30,079	18.2%	3,730	12.4%
Other Products	7,239	4.2%	7,076	4.4%	163	2.3%
Revenues from client's contracts	171,783	100%	165,699	100%	6,084	3.7%

Revenues in the Milk Products segment show an increase due to the combined effect of higher sales volumes in the fresh milk sector and a higher average selling price compared to the same period of the previous year.

Revenues in the Dairy Products segment show a significant increase as a result of higher sales volumes, as well as an increase in the average selling price.

Revenues from the Other products segment are in line with the previous period.

Revenues by distribution channel

	At 30 June				Change
(In € thousands and as a percentage)	2025	%	2024	%	2025vs2024	%
Large retail	108,624	63.2%	104,448	63.0%	4,177	4%
B2B partners	6,142	3.6%	6,081	3.7%	61	1%
Normal trade	40,655	23.7%	39,580	23.9%	1,075	3%
Private labels	8,448	4.9%	8,248	5.0%	200	2%
Food services	7,913	4.6%	7,343	4.4%	570	8%
Revenues from client's contracts	171,782	100%	165,699	100%	6,083	3.7%

Revenues in the Large retail channel recorded an increase, mainly driven by higher sales volumes in the fresh milk and mascarpone segments.

Revenues in the B2B Partners channel were broadly in line with the same period of the previous year.

Revenues in the Normal Trade channel recorded an increase as a result of higher sales volumes in the milk & dairy sector.

Revenues in the Private Label channel were in line with the same period of the previous year.

Revenues in the Food Service channel were substantially in line with the same period of the previous year.

Revenues by geography area

(In € thousands and as a percentage)	At 30 June				Change
	2025	%	2024	%	2025vs2024	%
Italy	154,781	90.1%	149,804	90.4%	4,977	3%
Germany	7,426	4.3%	6,904	4.2%	522	8%
Other countries	9,575	5.7%	8,991	5.5%	584	7%
Revenues from client's contracts	171,782	100%	165,699	100%	6,084	3.7%

Revenues in Italy recorded an increase in the Dairy and Fresh Milk segments, driven by higher sales volumes and an increase in the average selling price.

Revenues in Germany increased as a result of higher volumes in the Dairy segment.

Revenues in Other Countries increased as a result of higher volumes in the Dairy segment.

* * *

Events occurred after 30 June 2025

After 30 June 2025, there were no atypical or unusual transactions that require changes to the half-year financial report 2025.

* * *

Declaration of the manager responsible for preparing the corporate accounting documents

The manager in responsible for preparing the corporate accounting documents Fabio Fazzari declares, pursuant to and for the purposes of Article 154-bis, paragraph 2, of Legislative Decree no. 58 of 1998, that the information contained in this press release corresponds to the document results, books and accounting records.

* * *

This press release is available on the Company's website at http://centralelatteitalia.com/ and on the authorized storage mechanism eMarket Storage at the following address .

* * *

The "Half-Year Financial Report as at 30 June 2025" is available on the Company's website at http://centralelatteitalia.com/ and on the authorized storage mechanism eMarket Storage at the following address

* * *

FOR MORE INFORMATION:

Investors Fabio Fazzari CLI Investor Relator Mob. +39 3346801664 Email fabio.fazzari@newlat.com

Alice Brambilla Barabino & Partners Tel. +39 0272023535 Mob. +39 3282668196 Email a.brambilla@barabino.it

Virginia Bertè Barabino & Partners Tel. +39 0272023535 Mob. +39 3429787585 Email v.berte@barabino.it

* * *

The Centrale del Latte d'Italia Group and NewPrinces, majority shareholder since 1 April 2020, today represent the third Italian operator in the Milk & Dairy sector.

The NewPrinces Group is a leading multinational, multi-brand, multi-product, and multi-channel player in the Italian and European agri-food sector, with a portfolio of over 30 historic brands recognised at an international level. The Group is a market leader across several categories, including pasta and bakery products, dairy, fish and canned foods, edible oils, ready meals, and specialised products such as infant nutrition and wellness foods.

With 7 factories and circa 650 employees, Centrale del Latte d'Italia Group produces and sells more than 120 products, ranging from milk and milk products to yogurt and drinks of plant origin and dairy distributed by traditional shops and large retail chains in the pertinent areas under several brands names TappoRosso, Polenghi, Mukki, Tigullio, Vicenza, Giglio, Salerno, Matese, Ala, Torre in Pietra, Optimus, Fior di Salento.

Statement of Financial Position as at 30 June 2025

At 30 June At 31 December (In € thousand) 2025 2024 Non-current assets Property, plant and equipment 96,545 100,169 Right of use 14,378 14,961 of which towards related parties 6,692 8,398 Intangible assets 19,497 19,507 Investments in associated companies 1,397 1,397
Non-current financial assets valued at fair value with impact
on I/S 703 703
Deferred tax assets 0 -
Total non-current assets 132,521 136,737
Current assets - -
Inventory 26,190 23,443
Account receivables 40,479 38,268
of which related parties 9,685 8,328
Current tax assets 172 130
Other receivables and current assets 14,000 14,300
of which towards related parties 6,546 5,842
Current financial assets valued at fair value with impact on I/S 1 1
Financial receivables valued at amortized cost 2,525 2,540
Of which towards related parties 2,525 2,540
Cash and cash equivalents 41,882 42,613
Of which towards related parties 33,936 35,218
Total current assets 125,248 121,295
TOTAL ASSETS 257,769 258,031
Equity - -
Share capital 28,840 28,840
Reserves 40,039 35,620
Net income 4,656 4,419
Total equity 73,536 68,879
Non-current liabilities - -
Provisions for employees 4,483 5,011
Provisions for risks and charges 1,488 1,428
Deferred tax liabilities 3,297 3,414
Non-current financial liabilities 22,145 30,054
Non-current lease liabilities 7,973 8,358
Of which towards related parties 2,603 3,920
Total non-current liabilities 39,386 48,265
Current liabilities
Account payables 74,880 81,309
Of which towards related parties 6,062 3,927
Current financial liabilities 42,177 34,741
Of which towards related parties 278 188
Current lease liabilities 10,264 10,033
Of which towards related parties 8,974 8,946
Current tax liabilities 0 43
Other current liabilities 17,526 14,761
Of which towards related parties 4,697 3,478
Total current liabilities 144,847 140,887
TOTAL EQUITY AND LIABILITIES 257,769 258,031

Income Statement at 30 June 2025

	At 30 June
(In € thousand)	2025	2024
Revenue from clients' contracts	171,782	165,699
Of which towards related parties	1,202	626
Cost of goods sold	(132,581)	(129,011)
Of which towards related parties	(3,888)	(3,711)
Gross profit	39,201	36,688
Sales and distribution costs	(26,949)	(25,313)
Administrative expenses	(4,359)	(4,315)
Of which towards related parties	(24)	(24)
Net impairment losses on financial assets	(517)	(88)
Other income	1,340	2,226
Other operational costs	(1,825)	(921)
EBIT	6,893	8,277
Financial income	651	720
Of which towards related parties	627	605
Financial expense	(2,267)	(2,223)
Of which towards related parties	(200)	(274)
EBT	5,277	6,774
Gross income tax	(620)	(1,959)
Net Income	4,656	4,815
Basic EPS	0.33	0.34
Diluted EPS	0.33	0.34

Statement of Comprehensive Income

At 30 June
2025	2024
4,656	4,815
-	-
-	-
-	-
-	-
4,656	4,815

Statement of Changes in Equity

(In € thousand)	Share capital	Reserves	Net Income	Group Total Equity
Ended 31 December 2023	28,840	34,834	2,959	66,633
Income allocation of the previous year	-	2,959	(2,959)	-
Net Income	-	-	4,815	4,815
Total comprehensive income for the period	-	0	1,856	4,815
Ended 30 June 2024	28,840	34,838	4,815	71,448
Net Income	-	-	(396)	(396)
Actuarial gains/(losses) net of tax	-	115	-	115
Share Buy Back	-	(2,287)	-	(2,287)
Total comprehensive income for the period	-	(2,172)	(396)	(2,568)
Ended 31 December 2024	28,840	32,662	4,419	68,879
Income allocation of the previous year	-	4,419	(4,419)	-
Net income	-	-	4,656	4,656
Total comprehensive income for the period	-	0	4,656	4,656
Ended 30 June 2025	28,840	32,662	9,075	73,536

Cash Flow Statement at 30 June 2025

	At 30 June
(In € thousand)	2025	2024
Profit before income tax	5,277	6,774
- Adjustments:
Depreciation and amortization	8,305	7,691
Financial Interest / (Income)	1,616	1,503
Of which towards related parties	427	(274)
Cash flow from operating activities before changes in	15,197	15,968
net working capital
Changes in inventory	(2,747)	(676)
Changes in trade receivables	(2,728)	(17,595)
Changes in trade payables	(6,429)	5,063
Changes in other assets and liabilities	2,528	2,283
Uses of employee benefit obligations and provisions for		(255)
risks and charges	(468)
Income tax paid	(284)	-
Net cash flow provided by / (used in) operating	5,070	4,788
activities
Investments in property, plant and equipment	(792)	(2,505)
Net cash flow provided by / (used in) investing	(793)	(2,505)
activities
Proceeds from long-term borrowings	10,000	15,284
Repayment of long-term borrowings	(10,473)	(4,188)
Repayment of lease liabilities	(2,918)	(3,272)
Of which towards related parties	(1,705)	(1,857)
Net financial expenses paid	(1,616)	(1,403)
Net cash flow provided by / (used in) financing	(5,007)	6,421
activities
Total cash flow provided / (used) in the year	(730)	8,704
Cash and cash equivalents at the beginning of the	42,613	36,032
period
Of which towards related parties	36,962	12,549
Compensation of financial credits	-	500
Total change in cash and cash equivalents	(730)	8,704
Cash and cash equivalents at the end of the period	41,883	45,236
Of which towards related parties	33,936	36,962

Fine Comunicato n.0474-36-2025	Numero di Pagine: 10
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