(Alliance News) - Centrale Del Latte D'Italia Spa reported Tuesday that it closed the first nine months of the year with a profit up 184% to EUR6.3 million from EUR2.2 million in the same period of 2022.

Revenues amounted to EUR250.8 million, up 12 percent from EUR223.3 million as of Sept. 30, 2022, "thanks to the ability to acquire new customers in the Dairy segment and a commercial policy of price increases aimed at countering inflationary effects," the company specified in a note.

Ebitda is EUR24 million, up 34 percent from EUR17.9 million in the same period 2022.

Ebit, at EUR11.8 million, is up triple digits from EUR4.3 million as of September 30 last year.

Net financial position was negative EUR40.4 million, a 31 percent improvement from minus EUR58.7 million as of Dec. 31, 2022.

In the coming months, the company "will continue to pay particular attention to cost control and financial management in order to maximize the generation of free cash flow to be allocated to both organic growth and shareholder remuneration," the statement said.

Centrale Del Latte D'Italia shares closed Monday in the green by 3.6 percent at EUR2.92 per share.

By Chiara Bruschi, Alliance News reporter

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