Newlat Food SpA
MIL:NWL
Newlat Food SpA
Newlat Food SpA engages in the production of milk, pasta, baked goods and baby food products. The company is headquartered in Reggio Nell'Emilia, Reggio Emilia and currently employs 2,099 full-time employees. The company went IPO on 2019-10-29. The firm is active in the food industry operating through six segments: Pasta, Milk Products, Bakery Products, Dairy Products, Special Products and Other Products. Its product offering includes pasta, rusks, crostini, milk, yogurt, butter and processed cheese, mascarpone and ricotta, mozzarella and scamorza, gluten-free products, protein-free products and children's food. The company owns a portfolio of brands and is active mainly in Italy and Germany.
Newlat Food SpA engages in the production of milk, pasta, baked goods and baby food products. The company is headquartered in Reggio Nell'Emilia, Reggio Emilia and currently employs 2,099 full-time employees. The company went IPO on 2019-10-29. The firm is active in the food industry operating through six segments: Pasta, Milk Products, Bakery Products, Dairy Products, Special Products and Other Products. Its product offering includes pasta, rusks, crostini, milk, yogurt, butter and processed cheese, mascarpone and ricotta, mozzarella and scamorza, gluten-free products, protein-free products and children's food. The company owns a portfolio of brands and is active mainly in Italy and Germany.
Profitability: Margins improved significantly despite a slight sales decline, with EBITDA up 16.5% and net income turning positive at EUR 22.3 million versus a loss last year.
Guidance Confirmed: Management reaffirmed full-year EBITDA guidance of EUR 210–220 million and expects strong free cash flow and margin preservation.
Cash Flow: Free cash flow was robust at EUR 88.9 million, with cash conversion rising to 79.2% from 60.9%. Net debt was reduced substantially.
Carrefour Acquisition: The Carrefour Italia acquisition is expected to close by mid-October. Management expects it to be neutral to net debt and to generate significant savings and Q4 cash.
Segment Performance: Dairy and drinks showed strong growth, offsetting weaker performance in other segments due to strategic contract exits and lower selling prices.
Cost Management: Margin improvement was credited to cost optimization, procurement savings, and a focus on higher-value products.
IPO Update: The U.K. IPO process is ongoing, with an official update expected later in the year.
