Centrale del Latte d’Italia S.P.A. approves the Interim Report as at 30 September 2021

CENTRALE DEL LATTE D'ITALIA S.P.A. APPROVES THE INTERIM REPORT AS AT 30 SEPTEMBER 2021

• Revenues: € 207.6 million (+53.4% vs. €135.3 million at 30.09.2020)
• EBITDA: € 19.9 million (-46,1% vs. € 13,6 million at 30.09.2020)
• EBIT: € 8 million (-35.1% vs. € 5.9 thousand at 30.09.2020)
• Net profit: € 8.9 million (+174.1% vs. € 3.2 million at 30.09.2020)

Turin, 12 November 2021 - The Board of Directors of Centrale del Latte d'Italia S.p.A. ("CLI" or the "Company") - the third Italian operator in the fresh and long-life milk market, listed on the STAR segment of the Italian Stock Exchange - which met today, under the chairmanship of Angelo Mastrolia, approved the results as at 30 September 2021.

The Company recorded revenues of € 207.6 million in the third quarter of 2021, compared to € 135.3 million in the same period of 2020, thanks to the contribution of the milk & dairy business unit, leased from the parent company Newlat Food S.p.A.

EBITDA as at 30 September 2021 amounted to € 19.9 million, compared to € 13.6 million as at 30 September 2020, thanks to the contribution of the milk & dairy business unit, leased from the parent company Newlat Food S.p.A. The 9.6% EBITDA margin is slightly down, compared to 9.8% EBITDA margin, reported in the third quarter of 2020.

EBIT as at 30 September 2021 is equal to € 8 million, compared to € 5.9 million recorded in the same period of the previous year, thanks to the contribution of the milk & dairy business unit, leased from the parent company Newlat Food S.p.A.

CLI recorded, as a pre-tax result, € 6.5 million, compared to € 4.7 million in the third quarter of last year.

Net profit is equal to € 8.9 million, a net increase compared to 30 September 2020, the pro-forma figure of which was equal to € 6.5 million. This result is influenced by the release of deferred taxes equal to € 5.1 million, relating to the clearance of misalignments deriving from the merger operation, as envisages by Italian Decree Law n. 104/2020 (so-called "August Decree").

There was a significant improvement in the net financial position which, before the application of the IFRS16 accounting standard, was equal to € -48.5 million, down by 16.2%, compared to € -57.9 million at 31 December 2020.