Groupe Berkem Announces Revenue of €39.3 Million at 30 September 2022, Up 8.6%
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Regulatory News:
Groupe Berkem (Paris:ALKEM), a leading player in bio-based chemicals (ISIN code: FR00140069V2 - Ticker: ALKEM), announces its revenue for the third quarter of 2022 and the first nine months ended 30 September 2022.
Olivier FAHY, Chairman and CEO of Groupe Berkem, stated: "Despite an adverse economic environment, we were able to pursue our organic growth momentum in the third quarter. This benefited from the price rises implemented to face the increase in our raw material costs, as well as the industrial investments realized this year. These investments are now demonstrating solid and tangible benefits, which are reflected in particular in the results reported by our subsidiary Lixol. In addition, a €70 million financing package has been put in place, strengthening our cash position and giving us the flexibility to make acquisitions in the short to medium term. The combination of all these elements makes us particularly confident in the Group's ability to consolidate its position as a leading player in bio-based chemicals at the service of industrials.”
In € millions – IFRS |
2022 |
|
2021 |
|
Change |
|
1st quarter revenue |
13.8 |
|
12.1 |
|
+14% |
|
2nd quarter revenue |
14.3 |
|
13.1 |
|
+9% |
|
Total 1st semester revenue |
28.1 |
|
25.2 |
|
+12% |
|
|
|
|
|
|
|
|
3rd quarter revenue |
11.2 |
|
11.0 |
|
+2% |
|
|
|
|
|
|
|
|
Total 9-month revenue |
39.3 |
|
36.2 |
|
+9% |
REVENUE AT 30 SEPTEMBER
During the third quarter of 2022, the Group's activity recorded revenue of €11.2 million.
At the end of September 2022, Groupe Berkem's revenue reached €39.3 million, up +8.6% compared to the first nine months of 2021 (€36.2 million in revenue).
The Plant Extraction division contributed to 29.7% of revenue at 30 September 2022, or €11.7 million, compared with 31.6% for the same period in 2021. The Eurolyo subsidiary, which is specialized in freeze-drying, saw its activity slow down by -9.2% to €1 million compared to €1.1 million in Q3 2021. Berkem's activity stood at €10.6 million, up 3.2% compared to the same period in 2021.
The Formulation division grew by 11.7% to €27.6 million, contributing to 70.3% to Group revenue, compared with 68.4% for the same period in 2021. This growth is driven in particular by the strong growth of Lixol since the beginning of 2022, recording an increase in activity of +43.4% compared to the first nine months of 2021. This performance is partly explained by the investments realized by the Group over the last few years.
UPDATE ON BUSINESS TRENDS
Reinforcement of the cash position
On 26 July 2022, the Company announced a €70 million financing package, including €63.5 million in senior debt with a pool of 6 French banks and €6.5 million in Recovery Bonds. These new financial resources provide the Group with greater means to carry out external growth operations. To date, the Group has activated a €18.5 million funding line through this facility.
ABOUT BERKEM GROUP
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 lives (cosmetics, food and beverages, construction, public hygiene, etc.). 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 €46 million and an EBITDA margin close to 20% in 2021. The Group has almost 170 employees working at its head office (Blanquefort, Gironde) and three production facilities in Gardonne (Dordogne), La Teste-de-Buch (Gironde), and Chartres (Eure-et-Loir).
Groupe Berkem has been listed on Euronext Growth Paris since December 2021 (ISIN: FR00140069V2 – ALKEM)
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