Italy's NewPrinces posts 20% core profit rise, sees stable turnover for 2025 (updated)
11/11/2025 08:21
Adds result details and outlook in paragraphs 1, 3-5, 8, context on acquired businesses in paragraphs 2, 6, chairman quote in paragraph 7 Nov 11 (Reuters) - Italy's NewPrinces NWLF.MI reported a 20% jump in its adjusted nine-month core profit on Tuesday, as the food and drinks maker remained focused on margin-accretive growth, operational efficiency and portfolio management. NewPrinces has grown in recent years mainly through acquisitions, often buying troubled assets from large multinational groups. The latest such deal was the purchase of Carrefour's CARR.PA loss-making business in Italy, agreed at the end of July. Its adjusted earnings before interest, taxes, depreciation and amortisation rose to 157.4 million euros ($183.6 million) in the first nine months of 2025, with its EBITDA margin expanding to 8.1% from last year's 6.2%. It aims to improve the margin further for its full-year results. The group, whose main markets are in Britain, Italy and Germany, also reported a 5.8% drop in its January-September revenue to 1.9 billion euros, weighed down by currency exchange rates. NewPrinces is the parent of Princes Group PRN.L, one of Europe's biggest grocery suppliers in recent decades, which made a muted trading debut in London at the end of October. The company – known as Newlat Food back then – bought Liverpool-based Princes in 2024. "We will continue to invest, innovate and grow, while remaining true to our roots and our long-term industrial vision," Chairman Angelo Mastrolia said in a statement. The maker of products such as pasta, canned foods, dairy and bakery goods said it expected 2025 turnover to remain "stable" on a comparable basis, which is adjusted for acquisitions closed during the year. ($1 = 0.8575 euros) (Reporting by Philippe Leroy Beaulieu in Gdansk, editing by Milla Nissi-Prussak) ((philippe.leroyBeaulieu@tr.com;))