Distribution SegmentThe Distribution segment was almost flat in terms of revenues and decreasing by around EUR 4M in terms of EBITDA, impacted by lower consumption trend, less favourable trading conditions of the Banana business, and adverse climatic conditions impacting some winter campaigns.
Financial PerformanceTotal revenues were € 337.9m, down by 2.7% YoY, as a result of the progressive normalisation of the shipping activity coupled with adverse climatic conditions, which affected some campaigns, and a weak consumption.
Shipping SegmentThe Shipping BU confirmed its normalisation trend, with the division’s EBITDA down by EUR 5.7M, impacted by lower freight rates, lower volumes on the dry side, and a weaker USD exchange rate.