the accounts of the safe of the four brothers – Corriere.it
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The «Guido M. Barilla e F.lli», safe of the four Barilla brothers who are at the top of the food empire, in 2022 created 1 euro turnover and 80 million profit. The statutory financial statements of the parent company (the consolidated financial statements are not yet available) have recently been filed. Nothing anomalous, however, despite very small revenues to say the least. The company is a “passive” holding, with no employees and no own assets, it collects dividends from the group’s industrial activity. And then distributes them in the family.
The profit and the gap
It is controlled by Guido (born in 1958), president of the group, Luca (1960) and Paolo (1961) vice presidents and by Emanuela (1968), the youngest daughter of Pietro Barilla, who died in 1993. The profit of 80 million realized in 2022 is decrease compared to the 123 million made in 2021. But precisely because it is a purely “coupon-breaker” company it discounts the one-year gap on industrial results. And thereforeand its results are not indicative of current trends of the group but of the trend of the family “portfolio”. The industrial year that determined the holding’s result is in fact 2021 which had seen a marked decline at a consolidated level to 274 million (with 3.93 billion in revenues) compared to 416 million (3.89 billion) of 2020. Barilla is present in more than 100 countries worldwide with over 8,700 employees.
The 123 million divided by four
Presumably the result for 2022 will also go largely to the family in the form of a dividend, around 20 million each. Last year the four Barilla brothers had decided, with specific assembly resolutions following the approval of the financial statements, to distribute 123 million of the 126 of net profit achieved in 2021.
«Equity solidity»
«It is quite evident – reads the financial statements – the capital solidity of the company (i.e. its ability to maintain financial balance in the medium to long term). In particular, the flow of dividends that comes from the subsidiary Barilla Holding allows the generation of the company’s profit and the remuneration of the shareholders». However, the document does not answer the fundamental questions about the revenues of 1 euro: What was invoiced and to whom?
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