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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 FINANCIAL REPORT AS AT 30 SEPTEMBER 2021 Consolidated net profit : € 11.5 million , + 9.3 % compared to the same period of the previous year , net of the exceptional income from business combination . 2 ewlat FOOD SPA Consolidated net revenues ( which include Symington's starting from 1 August 2021 ) : € 383.2 million , a marked improvement over the same period of the previous year . Organic growth in turnover : recovering sharply to -1.7 % growth from -3.9 % , reported in the first half of 2021 , thanks to the + 3 % growth reported in the third quarter . EBITDA : € 43.5 million , down 4.3 % vs. € 45.4 million in the first nine months of 2020 , under the same consolidation perimeter . FCF equals € 9.8 million , with 66 % EBITDA conversion ratio¹ . Consolidated Net Financial Position at 30 September 2021 equal to € -72.7 million vs. € -83 million at 31 December 2020 , within the same consolidation perimeter . Reggio Emilia , 12 November 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 Financial Report as at 30 September 2021 . Introduction to the Interim Management Report Below are detailed the proforma economic figures of Newlat Group as at 30 September 2021 and as at 30 September 2020 , which include , under the new consolidation perimeter , the Symington's Group and Centrale del Latte d'Italia starting from 1 January 2020 , for the purpose of better understanding of the business and the economic performance of the Group . In the first nine months , the Group's revenues were equal to € 452.5 million , down 2.2 % compared to the first nine months of 2020 , with the same consolidation perimeter ( the revenues at 30 September 2020 were equal to € 462.9 ) . The Group's EBITDA was equal to € 43.5 million vs. € 45.1 million , co pared to the same period of 2020 , within the same consolidation perimeter , with a decrease of 4.3 % , while the pro - forma EBITDA margin is in line with the same period of the previous year ( 9.6 % at 30 September 2021 vs. 9.8 % as at 30 September 2020 ) . EBIT was equal to € 18 million compared to an adjusted figure of € 21.4 million at 30 September 2020 including the income from business combination of € 19.3 , EBIT was equal to Euro 40.7 in 2020 . ¹ Conversion ratio : ( EBITDA - Investments ) / EBITDA DELVERDE Pezzullo GRO NAPO Mug Shot TWISTO PLA Corticella GIGLIO dal 1934 Reggio Emilia Birkel POLENGHI LOMBARDO OPTIMUS Granfetta Crostino dorato Mukki Centrale del Latte di Torino NAKED Centrale del latte