Selecta Group has announced its results for the second quarter of 2023:
Strong Adjusted EBITDA3 of €63.1 million, 21.1% increase versus last year, and Adjusted EBITDA3 margin of 20.6%, improvement driven by structural productivity and cost discipline.
- Reported EBITDA of €55.6 million, 20.9% increase versus last year as a result of higher Adjusted EBITDA and transformation actions normalising.
- Profitability expansion across all regions and record sales per machine per day of €13.1, an increase of 20.9% versus last year.
- Group sales2 of €307.2 million, 3.0% sales growth versus last year in a period of strong profitability focus.
- Free cash Flow of €35.3 million, contributing to robust liquidity4 of €153.3 million. We continue to drive cash generation projects and daily cash discipline.
‘I am pleased to share Selecta’s strong results for the first half of 2023’ said Executive Chairman, Joe Plumeri. (Main Picture). ‘We continue to lead the Foodtech Market, consistently meeting our clients’ needs with world-class brands and outstanding service. Moving forward, our focus remains on delivering millions of moments of joy to our consumers.’
Christian Schmitz, Selecta Group CEO, added: ‘We are proud to share Selecta’s strong results in Q2 2023. Our relentless pursuit of innovation and strategic partnerships has driven expansion of our Foodtech solutions and our focus on cost discipline continues to deliver strong profitability.’
Selecta’s Foodtech installations have increased significantly, mainly due to food markets (1,430 total points of sale, +50% vs. last year) and of intelligent vending solutions (850 total points of sale, +150% vs. last year).
The integration of Smart Fridges with fresh food, and Premium Coffee Solutions across Novotel is one example where we deliver value, convenience and quality to hotel guests. Selecta’s partnership with Mars, the leading confectionery player in Europe, has also driven significant growth in smart vending solutions across the UK, Belgium and Austria. Most recently, Selecta Austria took over the Mars machine park at 350 locations across the country. Together, we are optimizing self-service and offering innovative smart solutions to our consumers.
Selecta has also partnered with Coca-Cola to digitize Coca-Cola’s machine park across locations in the entertainment, education, and healthcare sectors in the UK. We are jointly creating a more modern experience for the Coca-Cola consumers.
Furthermore, in line with its commitment to sustainability, Selecta reports strong progress across its sustainability initiatives. The company reports a 25% reduction in CO2 emissions from its operations,compared to its 2019 baseline. Selecta has also expanded farm level programmes, directly supported 1,371 farmers across 5 markets and fostering a sustainable coffee supply chain. Selecta says that theseaccomplishments ‘demonstrate our dedication to excellence, innovation, and environmental responsibility, marking a significant milestone on its journey towards a brighter and more sustainable future.’
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