De Cecco has launched a five-year industrial plan that aims to reach a billion in turnover at the end of the period. This was announced by the Abruzzo company itself whose assembly, on Friday, confirmed Filippo Antonio De Cecco at the helm of the group, "strengthening governance within De Cecco, with a solid majority".
The new board of directors sees the entry as an independent director of Francesco Pugliese (former CEO of Conad). Gianni Letta, Mario Boselli and Bruno Pavesi were confirmed, while Saturnino De Cecco leaves the board and will not have representatives on the board, as will Adolfo Ronco Municchi, another representative of the family minority. "This is a reorganization that marks the formation of a stable family majority, around the president Filippo Antonio De Cecco, for the control of the third largest pasta producer in the world", explains the De Cecco group in a press release.
The ambitious five-year plan includes industrial interventions such as the construction of a new 500.000 quintal silo, which will bring the overall grain storage capacity to 1,5 million quintals. A strengthening is also planned on all markets, with a focus on pasta, but also on the enhancement of other productions, such as sauces and tomato products. A further objective is the expansion of the line of baked products, with the launch of the new “fetta biscottata De Cecco”.
During his report, Chairman Filippo Antonio De Cecco emphasized that 2023 was a year of historic results for the company. In the twelve months, De Cecco continued to strengthen its market position, reaching revenues of over 630 million euros and recording a growth of 22,5% in the last two years. The operating profit of Fratelli De Cecco di Filippo Fara San Martino Spa also increased by 10% compared to the previous year, reaching 15,5 million euros.
At an international level, in 2023 De Cecco celebrated 130 years of presence on the American market, consolidating its presence abroad, with 53% of sales coming from exports.
