Dairy group Lactalis Italia has ended 2016 with a consolidated profit of €76.2 million, down from €109 million in the year before.
Revenues for the group,which controls the Galbani, Vallelata and Invernizzi brands, were €1.24 billion, down 4% year-on-year, mainly due to the “decline in revenues for the sale of dairy products, as a result of the decrease in the unit selling prices”.
A tax dispute involving its subsidiary Egidio Galbani was cited as a contributing factor to its decline in performance, according to La Republicca.
EBITDA was €159.8 million, down from €179.1 million in 2015, with EBIT at €129.5 million, down from €148.1 million in the previous year.
The Lactalis Italia group is controlled by France’s Besnier family, which owns the Lactalis group and in Italy, through Sofil, also Parmalat.