Parmalat SpA reported consolidated and parent earnings results for the year ended December 31, 2016. For the period, the consolidated revenue was €6,529.9 million against €6,458.6 million a year ago. EBITDA was €458.5 million against €444.5 million a year ago. EBIT was €205.2 million against €276.9 million a year ago. Profit before taxes was €195.1 million against €247.8 million a year ago. Profit for the year was €79.4 million against €146.1 million a year ago. Profit attributable to company was €78.5 million or €0.0423 diluted per share against €144.3 million or €0.0780 diluted per share a year ago. Cash outflow from operating activities for the year was €360.3 million against €306.4 million a year ago.

For the period, the parent revenue was €883.7 million against €897.7 million a year ago. EBITDA was €71.0 million against €71.1 million a year ago. EBIT was €54.7 million against €71.6 million a year ago. PBT was €72.6 million against €93.0 million a year ago. Profit for the year was €56.9 million against €65.3 million a year ago. Cash outflow from operating activities for the year was €40.3 million against €100.5 million a year ago.

For 2017, at constant exchange rates and excluding the Venezuelan subsidiary, given the critical situation that developed in that country due to the high rate of inflation and massive devaluation of the local currency, the company expects both net revenue and EBITDA to increase by about 4%.