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Newlat FOOD SPA A multibrand company Head office : Via J. F. Kennedy , 16 - 42124 Reggio Emilia - Telephone : 0522.7901 Fax : 0522.790266 Share Capital € 43,935,050.00 fully paid - up - Economic and Administrative Index of Reggio Emilia ( REA ) no . 277595 - VAT and Tax ID 00183410653 Company subject to management and coordination by Newlat Group S.A. pursuant to articles 2497 et seq . of the Italian Civil Code . • • • • PRESS RELEASE THE BOARD OF DIRECTORS APPROVES THE INTERIM MANAGEMENT STATEMENT AS AT 31 MARCH 2021 Consolidated Net Profit : € 3.1 million , up 36.82 % vs. € 2.3 million in the first quarter of 2020 . Consolidated EBITDA : € 11 million vs. € 11.2 million in the first quarter of 2020 . EBITDA margin improved to 9.1 % vs. 8.8 % in Q1 2020 on a like - for - like basis . Consolidated revenues : € 121.5 million , down 4.6 % vs. € 127.3 million in the first quarter of 2020 , on a like - for - like basis . Consolidated Net Financial Position at 31 March 2021 equal to positive € 11.7 million vs. positive € 5.2 million at 31 December 2020 . Three - year renewal ( 2021-23 ) of the baby food and special product co - packing contract with Kraft Heinz . The new agreement implies better economic conditions and a direct positive impact on Newlat Food profitability . - Reggio Emilia , 14 May 2021 the Board of Directors of Newlat Food S.p.A. ( " Newlat Food " or the " Company " ) , which met today under the chairmanship of Angelo Mastrolia , examined and approved the Interim Management Statement as at 31 March 2021 . The first quarter figures show a reduction in market demand and a slight decrease in terms of turnover with the same consolidation perimeter . The consolidated revenues of the Company in the first quarter of 2021 were equal to € 121.5 million , a decrease of 4.6 % compared to the first three months of 2020 on a like - for - like basis . The Company's Consolidated EBITDA was € 11 million , a decrease of 2 % compared to the same period of 2020 and on a like - for - like basis . In terms of EBITDA margin , an improvement was recorded from 8.8 % to 9.1 % , thanks to the Group's economies of scale generated from procurement efficiencies . EBIT was equal to € 4.7 million , an increase of 4.7 % compared to € 4.9 million in the first quarter of 2020 under the same scope of consolidation . Net Income was equal to € 3.1 million compared to € 2.3 million in Q1 2020 , thus recording an increase of 36.82 % , mainly thanks to the Centrale del Latte d'Italia contribution . DELVERDE Pezzullo SANRO FACTORY Birkel GLOCKEN ORO NAPOLI Corticella Tyace uacei GU DO DOIT CON GUST GIGLIO Polenghi OPTIMUS Lombardo Mukki HAPPOROSSO Matese del 1934 Reggie Elli Centrale del latte Centrale del latte Vicenza Centrale del Latte di Torino