Mutti Group Reports Strong Revenue Growth and International Expansion

The Mutti Group, the second largest Italian producer of tomato-based products, has announced a significant increase in revenue and continued international expansion.

Continued Global Growth
While maintaining its exclusively Italian production, the group expanded its international reach in 2024. Revenues increased by 13% to 703 million euros, with exports rising to 59% of turnover (417 million euros) compared to 286 million domestically. 

Despite a 12% decrease in EBITDA to 45.5 million euros and a sub-optimal tomato harvest requiring stockpiling, sales volumes grew by 6.6% to 371 thousand tons (60% international), and the company improved its net financial position from -120 million to -68 million.

“2024 has tested us hard, with weather conditions in Northern Italy resulting in much lower-than-expected volumes of tomatoes to be processed. The international context has been equally challenging, but our financial results tell the story of a dynamic, solid company that has been able to respond with determination and commitment. These are values that have always been part of who we are and, together with our constant pursuit of the highest possible quality, will continue to be the foundation of our growth,” commented Francesco Mutti, CEO of Mutti. “Our goal for the future remains to grow our international presence while continuing to generate value every day for the regions in which we operate, for Made in Italy, and for those who bring Mutti to their table.”

International Expansion
With an overall value market share of 33.3%, Mutti sees strong performance in key markets like France (16.2% share) and the Benelux (over 100 million euros in revenue). Significant turnover increases have been achieved in Germany (39%) and the UK-Ireland hub (38%).

While Europe remains Mutti's primary market (80% of turnover), the United States (25 million euros, up 32% in North America) and Australia (market leader with 46 million euros and a 22.5% share since 2019) are growing. Francesco Mutti declared to the Corriere della Sera: "We are forced to invest in the United States because we have a long-term growth project. But with duties we would have to raise prices, and a lot. Without being able to produce locally, of course, working Mutti only Italian tomatoes."

Furthering its expansion, Mutti is entering Poland in Eastern Europe, claiming a 10.9% market share as the "third largest brand in the tomato category" with 25 million euros in revenue. "It is now a strategic country for us," Mutti states, "so we are opening our seventh branch here. It has the highest per capita income in Eastern Europe." This new entity will be responsible for overseeing and further developing the company's business within the region. This strategic move signals Mutti's commitment to long-term growth and its ambition to strengthen its foothold in key international territories.

Sources: Corriere della Serra, Mutti