After a good 2008, Panariagroup chooses Emilio Mussini as chairman

After reporting strong results in 2008, the Italian group based in Finale Emilia (MO) is preparing to pay out a dividend of 0.03 euro per ordinary share.

Thanks to encouraging signs of consolidation in the main European markets and the limited contraction of the Italian market, the group’s net income amounted to 328.3 million euro, 7.4% down from 2007 (354.4 million euro).
Operating margin also remained high, EBIT at 35.9 million euro (10.4% of net income) and EBITDA 15.5 million euro (4.5% of net income).

Net profits amounted to 5.4 million euro, 1.6% of net income.

Following the shareholders meeting, the board of directors met to renew its officers.
Emilio Mussini was appointed chairman of the Group and Giuliano Mussini and Giovanna Mussini Vice Chairmen, Giuliano Pini Managing Director and General Manager, and Giuseppe Mussini, Paolo Mussini and Andrea Mussini Managing Directors of the Panaria, Cotto d’Este/Blustyle and Fiordo divisions. The Lea brand remains under the direct control of newly appointed Chairman Emilio Mussini.