Orsero grows and confirms FY 2020 Guidance

Orsero, a company listed on the STAR segment of Borsa Italiana’s equity market, has escaped the impact of the Covid-19 pandemic and posted 7.9% growth in net revenues in Q1 to €240.9 million.

Thanks to its operations in the food sector, the Group was able to offset the fall in sales in the food service channel with higher sales volumes in the mass retail segment.

The results reflect both the solid growth of the Import & Distribution BU, driven by the strong performance of the Italian, Spanish and French companies, and the positive contribution of the Shipping BU. Adjusted EBITDA grew by 38.8% from €6.8 million to €9.5 million, pushing up margins from 3.1% to 3.8%.

Throughout the emergency, the Group continued to operate as normal in all its main markets to supply products to customers and end consumers. Given the positive trend in revenues and profitability, the group has confirmed its FY 2020 Guidance.