- Slight increase in 2023 full-year revenue (+1.6%) vs.
2022:
- Continued good sales momentum in the
"Health, Beauty & Nutrition" business area - Persistent
tensions in the "Hygiene & Protection" and "Construction &
Materials" business areas - Strengthening of the "Industry"
business area thanks to the Group's strategic investments
- Groupe Berkem's 2025 profitability target postponed to 2027
due to the acquisition of Givaudan's industrial site in Valencia to
expand its industrial facilities
Regulatory News:
Groupe Berkem, a leading player in bio-based chemistry
(ISIN code: FR00140069V2 – Ticker: ALKEM), today announces its
consolidated 2023 full-year revenue, as at December 31, 2023.
Olivier FAHY, Chairman and CEO of Groupe Berkem,
stated: "Despite a financial year marked by significant
tensions in some of its historic markets, Groupe Berkem proved the
resilience of its business model throughout the year. The
investments in R&D, business development and acquisitions that
we have initiated and intend to pursue, demonstrated their
potential in 2023. This was particularly the case in our "Health,
Beauty & Nutrition" business area, with the numerous product
launches we carried out, and in our "Industry" business area, which
is being structured to better address the growing needs of
manufacturers for innovative biobased solutions capable of
integrating conventional chemistry. As was the case for
i.Bioceuticals and Biopress in 2023, the Givaudan industrial site
whose acquisition we are announcing today should enable us to move
into new growth markets and significantly increase our current
production capacities. The coming year should therefore be marked
by new investments aimed at ensuring the ramp-up of this new site,
offering the Group a new development outlook and positioning it
even more as a leader in plant chemistry for the benefit of all
industries, in France and internationally.”
In millions of euros – IFRS
standards1
2023
2022
Change
First-Quarter Revenue
14.5
13.8
+5.1%
Second-Quarter Revenue
13.4
14.4
-1.0%
Third-Quarter Revenue
12.0
11.6
+3.5%
Fourth-Quarter Revenue
12.6
11.9
+5.0%
12-months total
Construction & Materials
22.3
24.0
-6.8%
Hygiene & Protection
11.4
11.4
0.0%
Health, Beauty & Nutrition
16.7
15.8
+5.6%
Industry
1.5
0.4
+294.5%
Other
0.5
0.1
+400.0%
Total annual revenue
52.4
51.6
+1.6%
2023 Full-Year Revenue
As at December 31, 2023, Groupe Berkem's full-year revenue was
€52.4 million, up 1.6% compared to 2022.
Full-year revenue for the Construction & Materials
business area stood at €22.3 million, down 6.8% compared to 2022,
affected by the unfavorable environment facing the building and
construction market. However, activity in the Hygiene &
Protection business area was stable compared to 2022, with
revenue of €11.4 million. The Health, Beauty & Nutrition
business area continued to record strong growth, with revenue up by
5.6%. Finally, the Industry business area recorded very
strong growth over the year, of around 294.5%, reaching €1.5
million thanks to the Group's investments, in particular the
acquisition of Biopress at the beginning of April 2023.
As at December 31, 2023, the Group held 198 marketing
authorizations, and 69 authorization applications were under
review.
Cash position as at December 31, 2023
As at December 31, 2023, Groupe Berkem had net cash of €12.5
million, compared with €6.5 million as at June 30, 2023.
As a reminder, on July 26, 2022, the Group secured €70 million
in financing, including €63.5 million in senior debt from a pool of
6 French banks and €6.5 million in Recovery Bonds. As at December
31, 2023, €27.0 million of the €70 million had been used.
2023 Fourth-Quarter Revenue
The Group recorded revenue of €12.6 million in Q4 2023, up 5.0%
compared with Q4 2022.
Still penalized by the slowdown in the use of wood in the
construction market, revenue in the Construction &
Materials business area fell by 14.2% this quarter compared
with the same period in 2022, to €4.5 million. Meanwhile, the
Hygiene & Protection business area returned to growth
with revenues increasing 4.1% to reach €2.5 million. Furthermore,
the revenue in the Health, Beauty & Nutrition business
area rose by a further 4.6% to €4.4 million, continuing to benefit
from the numerous product launches initiated by the Group during
2023. Over the same period, the Industry business area
recorded very strong revenue growth of 177.2% compared with Q4
2022, reaching €0.7 million, as a result of the numerous
investments undertaken by the Group for the benefit of its
industrial customers.
2023 Fourth-Quarter and post financial year-end
highlights
On October 26, 2023, Groupe Berkem announced the launch of
Novaterm®, its connected, boosted anti-termite solution. Novaterm®
features a dual innovation that strengthens the Group's positioning
in the "Hygiene & Protection" business area, namely the
integration of a plant-based booster that reduces the content of
conventional biocides, and optimized performance thanks to 24/7
connected monitoring technology.
The Group also announced the extension of its H2OLIXIR range of
100% natural plant waters, on January 15, 2024, with the launch of
two new 97.5% organic waters for the cosmetics industry: lavender
water and thyme water.
2025 financial targets
As announced in today's press release on the acquisition of
Givaudan's industrial site in Valencia2, taking into account the
investments that Groupe Berkem plans to make in its new production
site, notably in capacity in order to ensure the gradual ramp-up of
the site, and the additional operating and personnel costs
generated by this external growth transaction, the profitability
targets announced by the Group and revised on October 13, 20233
must now be postponed. As a reminder, the Company was aiming for an
EBITDA margin of around 25%, to be achieved by 2025. Groupe Berkem
now expects to reach this target by 2027.
The Group also confirms its ambition to achieve revenue of at
least €85 million by 2025.
Forthcoming financial publications:
- 2023 Full-Year Results and 2024 First-Quarter
Revenue: on April 29, 2024 (after market close)
- Annual General Meeting: on June 25, 2024
ABOUT GROUPE BERKEM
Founded in 1993 by Olivier Fahy, Chairman and Chief Executive
Officer, Groupe Berkem is a leading force in the bio-based
chemicals market. Its mission is to advance the environmental
transition of companies producing the chemicals used in everyday
life (Construction & Materials, Health, Beauty & Nutrition,
Hygiene & Protection, and Industry). By harnessing its
expertise in both plant extraction and innovative formulations,
Groupe Berkem has developed bio-based boosters—unique high-quality
bio-based solutions augmenting the performance of synthetic
molecules. Groupe Berkem achieved revenue of €52.4 million in 2023.
The Group has almost 200 employees working at its head office
(Blanquefort, Gironde) and 4 production facilities in Gardonne
(Dordogne), La Teste-de-Buch (Gironde), Chartres (Eure-et-Loir) and
Tonneins (Lot-et-Garonne).
Groupe Berkem has been listed on Euronext Growth Paris since
December 2021 (ISIN code: FR00140069V2 - ALKEM).
www.groupeberkem.com
_________________ 1 Non-audited figures 2 See press release
dated February 6, 2024. 3 See press release dated October 13,
2023.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240205207497/en/
Groupe Berkem Olivier Fahy,
Chairman and CEO Anthony Labrugnas, Chief Financial Officer Phone:
+33 (0)5 64 31 06 60 investisseurs@berkem.com
NewCap Investor Relations
Mathilde Bohin / Nicolas Fossiez Phone: +33 (0)1 44 71 94 94
berkem@newcap.eu
NewCap Media Relations
Nicolas Merigeau / Antoine Pacquier Phone: +33 (0)1 44 71 94 94
berkem@newcap.eu
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