TIDMZAMZ
RNS Number : 2857U
Zamaz PLC
27 March 2023
27 March 2023
Zamaz plc
("Zamaz" or "the Company")
Bella Dispensa reports over 30-fold calendar 2022 revenue
growth
through successful acquisition strategy
Zamaz plc (LSE: ZAMZ), the international e-commerce and
multi-channel luxury food and sustainable cleaning products brand
aggregator, is pleased to announce the following trading update for
its wholly owned luxury food subsidiary, Bella Dispensa Srl ("Bella
Dispensa").
Zamaz has instigated an aggressive three year buy and build
growth plan (the "Growth Plan") targeted on building its e-commerce
and multi-channel distribution capabilities and owned brand
portfolio. It anticipates that this plan will deliver significant
profitable growth and value creation for shareholders.
Its wholly owned subsidiary, Bella Dispensa, has made three
brand company acquisitions in the six months since Zamaz' IPO. each
of which has had a strongly positive impact on financial
performance. The acquisitions are: Dallate Italia Srl ("Dallate"),
a manufacturer and distributor of luxury ice creams and other
premium dairy products, announced on 13 February 2023; Eccellenze
Srl ("Eccellenze") - a 72 % stake in luxury foods offline retailer
announced on 10 October 2022, and Ecocarne Srl ("Ecocarne"), a
premium fresh meat retailer, announced on 26 September 2022.
Following these acquisitions, the Company's brand portfolio has
grown significantly, as have group sales. Furthermore, the
acquisitions of these brand companies are generating new finance
partnerships and additional opportunities within distribution
channels and product development which are expected to diversify
the Company's funding sources, grow its multi-channel distribution
network and widen its customer base.
Bella Dispensa files statutory accounts in Italy, and for its
financial calendar year ended 31 December 2022, which includes the
merged results of both Ecocarne and Eccellenze for that year, it
has recorded a turnover (unaudited) in excess of EUR5.0 million
(GBP3.91 million), an increase over the previous year of more than
EUR4.86 million, representing an uplift of over 3,300%. Net
operating margins reported for the period also improved by almost
EUR0.6 million, moving from a start-up loss position to a positive
EUR0.3 million (GBP0.24 million).
The acquisition of Dallatte was completed in 2023, therefore its
trading performance does not feature in Bella Dispensa's 2022
statutory results. However, on a pro-forma basis, it would have
added a further EUR1 million (GBP0.9 million) in turnover and
EUR0.1 million (GBP0.09 million) in net operating margin.
Bella Dispensa's like-for-like sales are expected to increase as
the Company's growing online and offline multi-channel distribution
network onboards the acquired brands. Operating costs are expected
to fall proportionately, as integration of the businesses delivers
savings. This, as well as the introduction of additional e-commerce
channels to some of the acquired products which have to date only
been sold offline, is expected to deliver further improvements in
profit margin.
It should be noted that these results for Bella Dispensa to 31
December 2022 are related to, but are not the same as the results
included in the consolidated financial statements of Zamaz, whose
financial year-end is 31 August. The Board is, however, considering
changing Zamaz' reporting date to 31 December in order to better
align the business going forward. These subsidiary results are
being announced as they will shortly be in the public domain in
Italy and are price-sensitive. They do, nevertheless, underline the
rapid expansion the Company has enjoyed through its acquisition
strategies. and the Company continues to seek to acquire successful
brand businesses, brand aggregators and retail technologies to
deliver on its Growth Plan.
Zamaz will release its consolidated Half Year results for the
six month period ended 28 February 2023 in due course.
Martin Groak, Chairman of Zamaz commented:
"The Board is very pleased with the speed at which the Growth
Plan is being successfully implemented, resulting in the Company
being ahead of schedule in terms of its performance and market
position. The team continues to source and negotiate acquisition
opportunities which are in line with the Company's strategy and
which will drive revenue and profitability. "
This trading update is based upon unaudited management accounts
and has been prepared solely to provide additional information on
trading to the shareholders of Zamaz plc, given its significant
growth in revenues post acquisitions. All figures are provisional
and subject to further review.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Zamaz plc
Martin Groak, Chairman info@zamaz.tech
c/o Walbrook PR Limited
Walbrook PR Limited +44 20 7933 8780 or +44 07768 807631
Paul Vann/Nick Rome/Joe Walker zamaz@walbrookpr.com
About Zamaz plc:
Zamaz plc is a technology driven e-commerce business that
originates, acquires or licenses, operates and scales small and
medium-sized brands with category-winning products on global
marketplaces. With ever prolific customer data sources, the advent
of turnkey e-commerce website platforms, such as Shopify, and a
thriving ecosystem of third-party software integrators, the options
available to launch and build brands that can be marketed, sold,
and shipped online quickly and globally with limited risk have
never been more compelling. Such marketplaces, led by Amazon and
eBay, also provide connection to millions of consumers, and have
become a first-choice route-to-market for a generation of micro and
small and medium-sized enterprise businesses.
Zamaz mines and analyses data from such online retail technology
platforms which provide significant insights into consumer shopping
behaviour and trends and enable the business to deploy, market and
sell an optimised portfolio of brands, products, packs and prices
aligned with active, real-time consumer needs and demands
principally on UK and EU Amazon marketplaces.
About Bella Dispensa:
Bella Dispensa, a wholly-owned subsidiary of Zamaz, is an
Italian-based online retailer of gourmet Italian food products
which operates in one of the fastest growing online sectors,
grocery shopping. The extensive relationships that Bella Dispensa
enjoys with its niche food suppliers makes it a strong addition to
the Zamaz Brand Portfolio and will give Zamaz the opportunity to
showcase and sell Bella Dispensa sourced products on its online
platform.
Bella Dispensa has already made three acquisitions since Zamaz
listed on the Main Market of the London Stock Exchange; the first
two in H2 2022: Ecocarni, a purveyor of premium quality meats and
associated products sourced from Italy and Argentina to both
wholesale and retail customers, from its flagship store in Milan
and Eccellenze S.r.l. which has a retail store located on Milan's
prestigious Corso Venezia, one of the city's most exclusive and
elegant avenues, being part of the upscale Quadrilatero della moda
shopping district. Recently established in Q4 2021, Eccellenze has
grown rapidly, and now offers over 1,000 premium quality food
products in-store, including cheese, pasta, wine and oil. Its
highly experienced management team has also developed a unique
eno-gastronomic "lifestyle shopping experience" for its growing,
highly discerning client base.
Most recently, Bella Dispensa has acquired Dallate Italia srl.
Dallatte, based in Piedmont, Italy, is a manufacturer and
distributor of premium dairy products using natural ingredients
including ice cream and pastries, milk, butter and cooking cream,
fresh and dry pastries and frozen filled pasta. The Dallatte brand
is synonymous with "Italian Food Excellence" and has distribution
outlets across Europe.
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END
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March 27, 2023 02:00 ET (06:00 GMT)
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