La Doria - Strength in a tough environment
La Doria has delivered a strong set of results despite the challenging economic backdrop in its key markets. Organic growth was an impressive 8.4%, which was mainly volume-driven and broad-based across categories. EBITDA margins were down 30bps due to continued pressure from the supermarkets, mainly in the UK. Management is committed to remaining cost competitive and to shifting the business mix towards the faster-growing, more profitable areas. The new industrial plan, announced in March, should deliver this over the next four years, and targets c 3% revenue and 7% EBITDA CAGR FY17-21.La Doria is a food product manufacturing company based in Italy. Co. specializes in the manufacture and production of foodstuffs, particularly tomato-based products (canned tomatos and ready-to-serve sauces), and other canned products such as pulses and fruit. The main products are peeled tomatoes, chopped tomatoes, tomato puree. Co. mostly sells its production to Italian and European retail groups such as GS Euromercato, Sainsbury, Tesco and Safeway; these companies distribute La Doria products under their own labels. Other lines include canned beans, vegetables, and pasta products.
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