The shareholders' meeting approved the financial statements for the 2016 financial year, the first after the merger of Centrale del Latte of Florence, Pistoia and Livorno into Centrale del Latte of Turin, which later became Centrale del Latte d'Italia. The results incorporating the effects of the aforementioned transaction, starting from 1 October 2016, are not directly comparable with 2015.
The new group recorded net revenues of 117,7 million (+21,6%), an Ebitda which rose from 4,8 million to 2,9 million and an Ebit in the red of 1,6 million (positive for 1,7 million at the end of 2015). These margins are affected by non-recurring costs attributable to the merger. The net profit as a result of the business combination is equal to 12 million compared to 0,5 million at the end of 2015.
