2009 highlights
• Sales: €4,171 million
• Volumes produced: 2,519,000 tonnes
• EBITDA: €527 million
• Debt remains stable at €877 million (1.66x EBITDA)
• Barilla G e R Fratelli (€3.2bn sales) remains the world leader in the pasta market and Italian market leader in bakery products
• Strengthened market leading position in the US (28% in value terms, + 1% on 2008). Growing both volumes (+6%) and turnover (+11.6%)
• Lieken, leader in the bread market in Germany, improved operating margins and carried out restructuring process
Commenting on the results Guido Barilla, Chairman of Barilla Group, said, “In a very difficult global scenario, Barilla’s 2009 results confirm the strength and competitive drive of our group and have positioned us well to face the coming years with confidence.”
“We have stuck to our values and our corporate culture, which are based on nutritious and responsibly developed food models, and supported by knowledge and innovation. This is demonstrated through the Barilla Laboratory for Knowledge and Innovation, a corporate laboratory aimed at the development of culture, knowledge, innovation and management skills, and the Barilla Centre for Food & Nutrition, an independent and multidisciplinary think-tank, which aims to face up to and inform on food and nutrition topics.”
Barilla CEO Massimo Potenza added, “The Group’s positive performance, achieved thanks to our clearer and more defined strategies and effective operational programmes, mean that we are optimistic about the future. In 2009, we continued to grow our portfolio, adding new products such as Mulino Bianco Storie di frutta – a 100% fruit smoothie – in line with our market positioning inspired by the Mediterranean nutritional model.”
“Our financial strength”, said Potenza, “allows us to focus all our energies on the development of strategies aimed at consolidating our leading European market position, increasing our market share in the US and pursuing new opportunities in emerging markets.”
Barilla Group, the world’s leading pasta production group which includes Barilla G e R. Fratelli and Lieken AG and operates primarily in Italy, USA, France, Germany and Northern Europe recorded sales of €4,171 million in 2009. In difficult market conditions characterised by the global economic crisis and a strong contraction of family consumption, Barilla Group recorded EBITDA of €527 million. This result was achieved thanks to the contribution of better profit margins in the USA, the complete integration of Harry’s into Barilla G e R. Fratelli, better operating margins from Lieken AG and successful cost reduction programmes carried out at a group level. EBIT was €24 million, reflecting the negative impact of €252 million of goodwill related to Lieken AG and €46 million of charges related to the sale of the shareholding in La Bella Easo. Taking into account financial charges and taxes for €125 million, the net 2009 result was a loss of €101 million.
In the USA, Barilla continued to grow, confirming its leadership in the pasta market and reaching a market share of 28% (+1%) with sales of €350 million (US $500 million), up 11.8% on 2008.
Investment in Research and Development increased to €40 million while industrial investment (Capex) was €141 million (3.4% of total sales), focussed mainly on Italian and US plants (Avon) as well as Lieken in Germany.
Notes to Editors
Barilla Group operates in international markets with the brands Barilla, Mulino Bianco, Pavesi, Voiello, Wasa, Academia Barilla, Alixir, Misko, Filiz, Yemina and Vesta, Lieken Urkorn, Golden Toast, Harry’s. Barilla, through its controlled companies, is world leader in the pasta market, and number one in Italy in bakery products (Mulino Bianco and Pavesi). It is also the biggest bread producer in Europe. It owns 54 production plants in 10 countries and processes 2.6 million tonnes of durum wheat per year. The group employs over 15,000 people.
