Slide 1: 1Q 2024 Results
1Q 2024 Results Conference call – May 14, 2024
Slide 2: Important information
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Slide 3: 1Q 2024 - Financial highlights
1Q 2024 - Financial highlights €m Total Revenues EBITDA EBIT Net Income 426.6 418.1 16.6 14.8 7.5 6.2 1.5 1.7 1Q 23 1Q 24 1Q 23 1Q 24 1Q 23 1Q 24 1Q 23 1Q 24 - Total Revenues in 1Q 2024 are affected by the rationalisation of certain planned activities implemented as of 1Q 2023 in order to manage a g
Slide 4: 1Q 2024 - Total Sales
1Q 2024 - Total Sales €m Total Sales National Account - breakdown 420.0 412.5 250.7 256.7 121.6 114.6 121.6 114.6 44.7 48.5 47.7 41.2 76.9 66.1 1Q 2023 1Q 2024 1Q 2023 1Q 2024 Street Market National Account Wholesale Chains & Groups Canteens - Total sales in 1Q, historically low due to seasonality,
Slide 5: 1Q 2024 – Sales to Commercial Catering
1Q 2024 – Sales to Commercial Catering €m Sales to clients of €/kg price change Commercial Catering Commercial Catering 295.4 305.2 ~ 14% - In Commercial Catering the change of €/kg is being reduced and stabilized also 250.7 256.7 as a result of the change in ~ 1% the sales mix (i.e. product) 44.7 4
Slide 6: 1Q 2024 - Income statement
1Q 2024 - Income statement 1Q 2019 % €m 1Q 2023 % 1Q 2024 % 333.4 100.0% Total Revenues 426.6 100.0% 418.1 100.0% − GM recovery with a realignment to (266.9) -80.0% COG’s (344.3) -80.7% (332.9) -79.6% pre-pandemic levels of 2019 is (39.2) -11.8% Services costs (55.4) -13.0% (56.1) -13.5% confirmed (
Slide 7: Trade NWC as at 31 March 2024
Trade NWC as at 31 March 2024 Trade NWC Cash conversion cycle - days €m 31.03.19 31.03.23 31.03.24 Accounts Receivable 368.8 350.7 349.5 100 95 95 Days 100 74 75 98 Inventory 173.6 245.3 236.2 74 75 Days 59 64 64 60 Accounts Payable (289.6) (362.5) (351.6) 64 64 59 Days 98 95 95 43 44 Trade NWC 252.
Slide 8: Net Debt as at 31 March 2024
Net Debt as at 31 March 2024 Net Debt Gross Debt (net of IFRS 16) €m 31.03.23 31.03.24 €m Non-current debt 274.0 Liquidity 155.0 164.0 146.8 Short-term net debt (127.6) (71.8) 40.0 Long-term debt (219.7) (273.6) 81.6 2.5 67.2 60.0 Net Debt before IFRS 16 (192.3) (181.5) 106.8 79.1 67.2 60.0 IFRS 16
Slide 9: MARR Lombardia goes live
MARR Lombardia goes live - From mid-April, operational activities of the MARR Lombardia distribution center began according to plans - MARR Lombardia is an owned facility and the final CapEx amounts to ca 28€m - The new distribution center is a state-of-the-art structure of over 14k sqm efficient an
Slide 10: Current trading
Current trading - The trend in Out-of-Home food consumption in the first four months of the year and therefore after the "spring long weekends" of 25 April and 1 May, even if penalized by unfavorable weather conditions (Confesercenti, April-May, 2024), provides positive indications in view of the co
Slide 11: Investor Relations contacts
Investor Relations contacts Antonio Tiso atiso@marr.it tel. +39 0541 746803 mob. +39 331 6873686 Léon Van Lancker lvanlancker@marr.it mob. +39 335 1872014 MARR S.p.A. Via Spagna, 20 - 47921 Rimini (Italy) website www.marr.it 11