Fine Foods grows by 6% in 2022 and bets on cosmetics
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Revenues growing in 2022 for Fine Foods & Pharmaceuticals, an Italian company specializing in the contract manufacturing of products for the pharmaceutical, nutraceutical, cosmetic, biocide and medical device industries, listed on the Euronext Star in Milan. Consolidated revenues reached 206.9 million euros, up 6.2% compared to 194.8 million euros in 2021. A trend of progressive business growth, made possible above all thanks to the planned process of continuous expansion of the R&D, marketing and commercial activities.
The Pharma Business Unit confirms the increase in turnover, reaching 54.7 million in 2022 and recording a growth of 38.6% compared to the previous year. The revenues of the Food Business Unit in 2022 amounted to 117.8 million against 139.1 million in
2021, with a drop mainly attributable to the contraction of productions intended for
markets affected by the Russian-Ukrainian conflict and a slowdown in the activities of customers operating in the Multilevel Marketing sector.
However, the slowdown in the Food business is more than offset by the increases in turnover recorded by the Pharma and Cosmetics divisions, which make the company’s business portfolio more solid and balanced. The contribution in 2022 of the new Cosmetics Business Unit, deriving from the acquisitions that took place in 2021, is in fact equal to 34.3 million euros, with a growth of 110.6% compared to 2021.
Ebitda in 2022 was 15.4 million compared to 19.6 million in the previous year, mainly due to the crisis of the supply chains and the significant increase in energy costs.
«We are satisfied with the results achieved in terms of revenues. especially in the light of a very complex international geo-political and macroeconomic context – said the managing director of the group, Giorgio Ferraris -. Confirming a context in which we are starting to see comforting signs of recovery, the group is preparing to close the first quarter of 2023 with revenues up 25% compared to the first three months of last year”.
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