Italy: Flora Toscana reaches €50 million of consolidated revenues, in line with the 2019 results

Flora Toscana's financial statements were closed with a profit of approximately 270,000 euro, the cooperative's turnover amounted to approximately € 35.8 million (down by 6.08% compared to the previous year), while at the consolidated level the cooperative group reached € 50 million (in line with what was recorded in 2019). These figures were presented at Flora Toscana's ordinary' shareholder's meeting on Thursday June 24. They are pleased with these figures; "It's a result not taken for granted given the criticalities created by the Coronavirus pandemic in 2020."

The Director Simone Bartoli, in representing the economic and financial situation at the Assembly, commented: "The results achieved are the result of an important team effort, not only between the collaborators in the company, but also with the cooperative's social base. In a moment of difficulty such as the one faced during the pandemic emergency, Flora Toscana was able to react in a compact manner to achieve profit at the end of the year and maintain the company's financial balance."

"These results must instill confidence in the production base of the cooperative, also because they will allow for the further implementation of the Member Development Fund, a tool that Flora Toscana makes available to contributing members to finance the investments of producers in their companies with non-repayable funds" so spoke the Chairman of the Board of Directors Paolo Batoni in his speech to confirm the cooperative's commitment to supporting production.

During the Assembly, an opportunity was also created for the presentation of new projects, the most important of which concerns the relaunch of Legnaia, a historic cooperative in Florence, now in crisis. In this adventure Flora Toscana participates together with Viridea – the main Italian garden center chain – and the Mati Group – historic company from Pistoia – for the joint development of an industrial plan which, once the Sollicciano business unit has been acquired, provides for a path of investments and improvements to relaunch a very important activity for the Florentine and Tuscan agricultural tradition. The project was presented together with Fabio Rappo of Viridea and Paolo Mati of the Mati Group, welcome guests of the Shareholders’ Meeting, who brought their precious contribution to tell the challenges and objectives of the Legnaia relaunch project, as well as offering excellent considerations and entrepreneurial discussions on markets and trends.

The Meeting ended with the interventions of the present authorities, to who was renewed the need to undertake a concrete path for the strengthening and revitalization of the district and the territory in which Flora Toscana and its producers operate.