The consumption crisis in Italy is also making itself felt for the first time in Ferrero's accounts, which sees a 5,3% decrease in sales in the country compared to last year. This is what emerges from the results as at 31 August approved by Ferrero Spa, the Italian subsidiary of the Ferrero group.
Turnover amounted to 2,697 billion euros, an improvement on last year's 2,55 billion. However, in the note accompanying the accounts, the group from Alba underlines how "the crisis has, for the first time in the history of Ferrero, negatively impacted sales in the Italian perimeter".
The company reacted by focusing even more on exports, made in over 70 countries, which showed an improvement of 4,1% to 780 million. Faced with the difficulties on the revenue front, Ferrero underlines how "the guarantee of employment" equal to 6.561 employees "has been protected, thanks to the priority given to the human and social values which have always characterized the corporate culture, to the good performance of exports abroad and above all to confidence in the economic recovery of our country”.
The net profit for the year amounted to 156,1 million euro, an improvement compared to the 95,9 million of the previous year. The cash flow generated by income management amounted to 215,7 million euro.
