Italian agri-food group Amadori has reported 2023 revenues of €1.78 billion, a 2.5% increase on the previous year, driven by increased volume and higher prices for its premium products.
EBITDA for the year amounted to €126 million, equating to 7.1% of turnover. Net profit reached €28.5 million, while net assets totaled €377 million.
Domestic Supply Chain
A key factor in Amadori's success was its strategic focus on its integrated Italian supply chain, it noted. The company enhanced its competitiveness and operational flexibility by investing nearly €70 million in production, logistics, and other related operations.
This includes the signing of a strategic partnership with Forno d'Oro, a poultry meat specialist, which has further strengthened its supply chain.
Amadori's supply chain now includes 19 production facilities, 16 distribution centres, and approximately 800 farms, employing over 9,300 people.
Sales performance at the business was mixed, however. While the large-scale retail sector saw a modest 0.7% increase in value sales, the traditional retail channel experienced stronger growth of 2.3%. The away-from-home market surpassed pre-pandemic levels, meanwhile, growing by 11% year-on-year.
'The Italian Protein Company'
Amadori is increasingly positioning itself as a comprehensive protein provider, encompassing poultry, eggs, and pork, as well as a growing range of plant-based options. This strategic move is underscored by the company's recent rebranding as 'The Italian Protein Company'.
To support this vision, Amadori recently unveiled a new five-year strategic plan focused on strengthening its brand, improving operational efficiency, and reducing external dependencies through significant investments. The company is also aiming to expand its presence in the out-of-home market, which has seen an 11% annual growth rate.
