The result of Mastellone Hnos in 2022 is estimated at 100.5 million pesos. The matter, though at first it seemed placid, is not the matter.
It is so that last year the Argentine company, owner of the emblematic brand La Serenísima, registered a loss of 240.4 million pesos as an operating result, which implies that the company is losing money with the production and marketing of dairy products. which itself exists.
Last year a huge loss was cut in 2021, but the business numbers are still in the red and this is a clear warning sign.
“The registered increase in our main costs could not be fully transferred to the prices of the products sold in the different sales channels sold in the Argentine domestic market, which is the main activity of our companies, especially our sales focus”, to explain. Mastellone in the most recent balance.
“On the other hand, the delay in the exchange rate affected the outcome of export operations, despite the higher FOB prices in average dollars, which increased by 15% compared to the previous year,” he added.
In other words, as is the case in many agro-industrial companies, Mastellone suffers a “Nelson double” applied by the national government: the impossibility of selling in the domestic market above the maximum prices determined by the Ministry of Commerce and “exchange detentions”. applied to outside sales.
“Among the positive effects that the company could take in the year, the positive effect described by our foreign subsidiaries stands out, from the effective combination of higher sales volumes with competent sales prices, and the effect of our efficiency actions. in our cost structure”, the balance sheet highlights.
What Mastellone could not earn in Argentina, it generates in Brazil through its subsidiary Leitesol, since there are no private maximum prices imposed or “detention exchanges” to dilute the advantage of exporters.
The net result for the financial year 2022 is an internet profit of 1,358.5 million pesos (after taxes), but this was not due to dairy products, but a profit from economic and exchange reasons.
Moreover, the leadership of Mastelloni – part of the Arcor group – is not distrustful of waiting for a more balanced situation after the presidential elections next October.
“The development of consumption will be key to the development of our commercial activities. We expect an improvement in this list, especially in the second half of the year. Taking this into consideration, we consider it prudent and appropriate to foresee that sales volumes in the domestic market could grow by 1% by 2023, compared to the previous year, considering within this figure the performance of the product for the intended year. a company founded by Pascual Mastello.
Who is Las Taperitas? The second largest milk producer in Argentina, which is also part of the Ilolay dairy