Saturday, May 11, 2024

Vogon Today

Selected News from the Galaxy

StartMag

Very sweet Nutella for the Ferreros, the numbers of Minenna, ECB green, Meloni papal papal

1 year ago babelfish

Very sweet Nutella for the Ferreros, the numbers of Minenna, ECB green, Meloni papal papal

Ferrero (Nutella), Meloni, Pope Francis, Minenna and more. Pills of press and TV reviews in the tweets of Michele Arnese, director of Startmag.

PAPAL PAPAL MELONS

MINENNA'S NUMBERS (NOT CONFIRMED TO THE CUSTOMS AND MONOPOLIES AGENCY)

FERRERO (NUTELLA) LUXEMBOURGIAN NUMBERS

SPECULATE ON SPECULATION

THE ORLANDI CASE ACCORDING TO THE MAGISTRATE

JUSTICE IS DONE…

THE NEW GOALS OF THE ECB

BRIA BRILLIANT WITH SCHLEIN

QUISQUILIE & PINZILLACCHERE

+++

EXTRACT FROM THE CORRIERE DELLA SERA ARTICLE ABOUT FERRERO AND NUTELLA:

Schenkenberg. It is the holding company, the richest company an Italian owns. Little known yet it is the "mother" of Nutella. Schenkenberg is the real safe of Giovanni Ferrero (about 76%) and the rest of the family (24%).

Three days ago in Luxembourg, the latest balance sheet, closed on 31 August 2022, was filed in the commercial register offices. The numbers are impressive: in 2022 a dividend of 765 million was distributed.

So 575 million went to Giovanni Ferrero, 58, the leader of the confectionery group and the richest Italian according to Forbes with assets of 34.7 billion. Then in the 2021-2022 financial year a profit of 686 million was made which will be used to pay another, presumably very rich, coupon this year. Also because there is a large margin. Between capital and reserves, the financial company has assets of 7.1 billion. So very broad shoulders to support and support any financial needs of the subsidiaries.

The only comparable family holding company, albeit with different characteristics, is the Delfin of the Del Vecchio heirs, with 4.2 billion in assets and 377 million in 2021 profit (but relatively more modest dividends).

Far away instead Bernard Arnault with his limited partnership Financière Agache, intended for 5 children (20% each): controls a conglomerate (Lvmh, Dior, Fendi, Bulgari, Vuitton, Dom Perignon, etc.) with a turnover of over 64 billion , a net profit of 12 billion and assets of almost 50 billion and he himself is credited with a wealth of about 180 billion.

Schenkenberg is a strategic corporate ring in the Ferrero "system": under it is Ferrero International, leader of the industrial group (39,000 employees, 107 companies, 32 plants in 170 countries with a turnover of 12.7 billion in 2021); above are Giovanni Ferrero (through his personal companies Bermic and Gmbf) and the minority family branch. It is such an important and delicate junction that it is regulated by a very meticulous scaffolding of rules which is reflected in a full-bodied statute, very detailed above all in addressing the transfers of shares. However, control is firmly in the hands of Giovanni Ferrero , whose liquidity is allegedly managed in part by the Luxembourg fund Teseo Capital Sicav, chaired by his wife Paola Rossi, who is also involved in various charitable and humanitarian organizations. In three years, Schenkenberg has "turned over" the record figure of 2.3 billion in dividends to shareholders. But it is not the contingent result of trading or financial speculation, they are healthy "industrial" profits from the sale of Nutella, Rocher, Tic Tac, Kinder, Estathé, etc.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/nutella-dolcissima-per-i-ferrero-i-numeri-di-minenna-bce-green-meloni-papale-papale/ on Wed, 11 Jan 2023 09:58:27 +0000.