The Board of Directors of Preziosi Food, the Preziosi Savory Snacks company, has approved the 2023 financial statement numbers. The company has strengthened its competitive position on the MDD channel (Private Label or Private Label) on which it generates 70% of sales with the main Italian and international discount and large-scale retail players. Own-brand sales are also growing, with the Salati Preziosi brand the second leader in Southern Italy, particularly concentrated in Campania, Sicily and Puglia. In 2023, Preziosi Food achieved an increase in total sales above the market average in both volume and value, at levels comparable to those of 2022.
In 2023 Preziosi Food generated a turnover of 86 million euros, with growth of +24% from the previous year and compared to a growth in value of 14,2% of the Italian savory snacks market as a whole. Volumes increased 11% year over year, with 20 million kilograms of chips, extrudates, pellets, tortillas and popcorn sold. The EBITDA at 11,155 million Euros is up by +84% compared to the previous year (before some extraordinary items). The 2023 Net Profit is equal to 4,278 million Euros. There Net financial position (PFN) improves and stands at 11,2 million euros.
Despite the particularly complex macroeconomic scenario, which has seen strong increases in the price of processing potatoes, transport and logistics costs, the consistently high level of energy costs, and the effects of the climatic situation on the availability of supply of agricultural commodities, Preziosi Food has drawn significant benefits from the increase in capacity, the increase in sales, careful control of operating costs and the prudent management policy of price lists the previous year 2022.
Lorenzo Caporaletti, President and CEO of Precious Food, said: “The 2023 results are the best ever for our company. In the particularly challenging scenario of the last three years, thanks to the ambitious 2022 investment program for capacity expansion and plant modernization, we have been able to consistently achieve growth in volumes and turnover. Furthermore, and even more importantly, in the presence of a marked inflationary dynamic of production factors, in recent quarters, we have managed to improve margins by determinedly seeking greater management and operational efficiency, cost containment, lower incidence of fixed costs, thanks to commitment of all our resources."
Between 2022 and 2023, Preziosi Food invested over 12 million euros in the systems and technologies of its Melfi (PZ) plant in Basilicata, doubling production capacity, improving product control and quality and increasing production efficiency. Advanced process technologies have been adopted which allow constant control of product standards and parameters, in particular with regards toacrylamide and the management of sunflower seed oil, flavors and other ingredients. Today, Melfi employs around 200 people and, thanks to the automation of the production lines, production capacity has doubled to over 33 million kilos.
For 2024 and 2025, Preziosi Food has a plan further investments, in particular from the point of view of the production and use of renewable energy and the recovery and reuse of water resources. In addition to being the first snack brand to create a completely compostable and certified package, Casereccia offers recyclable product packs, while on the energy front, all organic processing waste is reused as biomass through the support of a specialized company. Between the end of 2024 and 2025, Preziosi plans to complete the construction of a photovoltaic system in order to produce 30% of its energy needs from renewable sources and to recover up to 70% of the water during the industrial process through a "water treatment and recovery plan”. An allocation of 1 million euros has been allocated to both projects.
Finally, from a production point of view, the brand plans to expand its production with a view to diversifying into high-potential snacks, strengthening the "better for you”, seeking solutions for products with lower fat and sugar content, based on vegetables and legumes, with more proteins and fibre. Attention to these needs is already present on the children's line, as regards the corn-based snacks with surprise, and with the gluten-free production which constitutes 90% of the snacks produced by the company, certified with the " Spiga Barrata” of the AIC (Italian Celiac Association).
Precious Food
Preziosi Food, leader in the savory snacks sector in Italy, offers a wide range of products both under its own brand – Precious Savories – than with the production of Private Label (MDD). With a factory strategically located in Southern Italy, in Melfi (PZ), controlled and certified according to BRC and IFS standards, and with recently renewed systems and technologies, Preziosi Food guarantees the quality and safety of its products. The Salati Preziosi brand is synonymous with innovation and quality, aimed at all age groups, with a particular focus on the youngest through its famous surprise crisps: unique products with exclusive licenses that confirm the company as an Italian leader in the snack with surprise. The company is AIC Spiga Barrata certified and offers a wide range of Gluten Free products to meet the needs of an increasingly attentive and sensitive public to food specificities. Preziosi Food continues to invest in innovation, quality and food safety, guaranteeing consumers irresistible, safe products suitable for different needs and occasions.
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