Italian cake producers Bauli and Balocco have both posted a positive end to 2018, announcing plans to expand production at home and abroad. Holding one third of the market, Bauli confirmed its leadership in the panettone and pandoro segment (where it is present with the Alemagna, Motta, Doria and Bistefani brands) with a turnover of €472.6 million, up €22.6 million on the previous year.

Net profit amounted to €10.2 million (a decline by €0.5 million), according to data published by Il Sole 24 Ore. In the same period, EBITDA dropped from €47.8 million to €42.5 million, due to an increase in raw materials (mainly butter) and costs related to the commencement of production in India.