(Alliance News) - Orsero Spa announced its financial and environmental targets for2 024 on Tuesday.

Net revenues are between EUR1.53 billion and EUR1.59 billion, adjusted Ebitda is between EUR77 million and EUR84 million, adjusted net income is between EUR28 million and EUR32 million, and Net financial position is between EUR110 million and EUR105 million.

In 2024, the company plans investments in operating fixed assets of between EUR21 million and EUR23 million, including those related to the multi-year sustainability plan.

On the sustainability front, Orsero expects the energy consumption index per refrigerated cubic meter to decrease to 80.35 Kwh/m, the percentage of market stands involved in activities against food waste to increase to 80 percent of the total, the percentage of employees involved in sustainability training to increase to 80 percent of the total, and the percentage of warehouses certified for food safety to increase to 86 percent of the total.

Raffaella Orsero, vice president and CEO of Orsero, commented, "After an extraordinary year for the group for both business units, we foresee 2024 as a year of strengthening and consolidation, in which a group size will be defined that we want to maintain as a basis for growth in the years to come. This size is supported by the effectiveness of the latest acquisitions made in France, and the strategy of penetration into high value-added market segments, which are confirmed to be the strength of the group's business model."

"The group's strategic guidelines are now fully part of the culture of our people who are the driving force behind our growth and achievements; this aspect is as important as ever to continue growing in a healthy, profitable and sustainable way in the long term."

Matteo Colombini, co-CEO and CFO of the group, added, "In a context marked by geopolitical uncertainties, complex macroeconomic conditions, and an uncertain and volatile market both on commodities and on the consumption front, we remain strongly positive about the group's prospects for the year 2024 and those to come. The size achieved by the group allows us to forecast 2024 guidance with revenues still growing and a marginality that is at excellent levels for the Distribution business unit, thanks in part to the balancing of our basket with high value-added products combined with large volume commodity lines."

"On the other hand, as far as Shipping is concerned, for the first year after a record two-year period, we note the definitive normalization of profitability due to the overcapacity of the shipping market at the global level, which albeit in a calmed manner also touches the niche operated by the group."

"The financial structure continues to be solid and capable of meeting the high planned investments and shareholder remuneration. Orsero's strong operating cash generation allows ample scope for future growth through organic projects and M&A transactions."

Orsero's stock closed Tuesday up 0.4 percent at EUR17.22 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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