Selecta | Results Q3 in 2023
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SELECTA GROUP B.V.
Significant EBITDA growth and margin expansion
in Q3 2023
CHAM, SWITZERLAND, 8 November 2023: Selecta Group, a Swiss-based Foodtech leader with a world-class distribution network in Europe, announces its results1 for the third quarter of 2023:
- Strong Adjusted EBITDA2 of €62.6 million, 10.7% increase versus last year and Adjusted EBITDA margin of 21.4%, 2.4pp increase versus last year mainly driven by profitability enhancement projects
- Reported EBITDA of €54.3 million, 34.8% increase versus last year and Reported EBITDA margin of 18.5%, 5.0pp increase versus last year demonstrates successful transformation
- As a result of our profitability focus and initiatives Group sales3 have slowed down to €292.5 million, -1.5% versus last year whilst our sales per machine per day of €12.3, increased 13.8% versus last year
- Free cash Flow of €17.7 million contributed to robust Liquidity4 position of €125.9 million
Executive Chairman, Joe Plumeri, commented:
“We continue to lead the Foodtech market, consistently meeting our clients' needs with world-class brands and outstanding service. Service is key to deliver on our purpose of creating millions of moments of joy to our consumers, therefore investing in our people is essential.
Christian Schmitz, Selecta Group CEO, added:
"We are pleased to announce Selecta’s robust results, characterized by significant EBITDA growth and margin expansion, demonstrating successful transformation. Our relentless commitment to innovation and strategic partnerships continues to reinforce our Foodtech value proposition."
Expansion of Foodtech across Europe
The integration of Foodtech installations across various sectors, from hotels to retail, from private to on-the-go segments, continues to grow and fundamentally reshape Selecta’s clients and consumers experiences.
Our Foodtech solutions are present in major airports, transforming travelers’ experiences by offering them attractive and convenient options for drinks, snacks and fresh food on the go. Stansted Airport in the UK, Bologna Airport in Italy, and Swedavia Airport in Sweden are just a few of the locations that have recently embraced our Foodtech solutions. Accessible during extended airports waits as well as outside of restaurants and shops business hours, our Foodtech solutions allow travelers to quench their hunger and thirst by having a round-the-clock access to an extensive range of fresh food and beverage products.
Our Foodies solutions are also a perfect match for the healthcare sector. Patients, visitors, and employees can now enjoy round-the-clock drinks and fresh food in two prestigious hospitals in Denmark, Køge & Roskilde.
For Unite Students in the UK by understanding the unique needs of their students, we have customized 24/7 Foodtech solutions with premium coffee and fresh food choice which have been installed in their Nottingham accommodation.
In the Spanish market, three industry leaders are improving their employees experience through Selecta´s Foodtech solutions. Banco Santander continues to expand their Foodtech offering, seamlessly integrating up to 13 Micromarkets. In the energy sector, Acciona and Naturgy have upgraded their offering with Smart Fridges in line with the needs of their employees. The service excellence, the product range and the barrier-free handling have been decisive factors. These examples demonstrate that innovative technology combined with excellent service at workplaces impacts the well-being of employees.
Overall, we are witnessing the positive influence of Selecta’s Foodtech Solutions, solidifying its position as a leading innovator in the food technology industry.
Employer of Choice
Selecta has the commitment to become an Employer of Choice, this is a title Selecta strives to earn through continuous investment in its associates, particularly in their Client Solutions Specialists. These dedicated individuals play a pivotal role in understanding and meeting the clients' needs, so it is essential to empower them with the skills, knowledge, and values aligned with the company's vision.
Stepping into a new role can be both exciting and challenging. To bridge this gap, Selecta introduced a comprehensive onboarding program tailored specifically for the Client Solutions Specialists. This program is designed to immerse them in the company's culture, values, principles and mission, ensuring a seamless transition into their roles. Selecta´s recent CSS gathering in September brought together new joiners to provide them with an intensive learning experience towards our purpose to create millions of moments of joy every day.
Sustainability at Selecta’s core
Ecovadis, a globally recognized sustainability rating, evaluates companies based on their environmental, social, and ethical performance through a comprehensive assessment in areas such as environmental impact, fair labor practices & human rights, ethical sourcing, and sustainable procurement.
Selecta´s Pelican Rouge Coffee Roaster (PRCR) recently won the Gold Medal, which demonstrates its remarkable commitment to sustainability. This recognition reflects the company's ongoing efforts to minimize its environmental footprint and positively impact throughout the coffee supply chain. In 2022, Pelican Rouge Coffee proudly launched its fully sustainable coffee line, setting a new standard for eco-conscious coffee production
1At actual exchange rates
2Adjusted EBITDA: Earnings before Interest, Tax, Depreciation and Amortization and prior to one-off items (external and internal costs which are not related to the on-going business)
3Sales: Revenue after payment of vending fees
4Cash at Bank of €31.0million plus €94.9million available RCF
Cautionary Statement
We are providing this information voluntarily, and the material contained in this announcement is presented solely for information purposes and is not to be construed as providing investment advice. As such, it has no regard to the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is made as to, and no reliance should be placed on, the fairness, completeness, accuracy, correctness or reliability of the information contained herein or the assumptions upon which the information is based. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Neither Selecta, nor any of its directors, officers, employees, affiliates, direct or indirect shareholders, advisors or agents accepts any liability for any direct, indirect, consequential or other loss or damage suffered by any person as a result of relying on all or any part of this announcement and any liability is expressly disclaimed.
Forward-Looking Statements
This press release includes “forward-looking statements” that involve risks, uncertainties and other factors, many of which are outside of Selecta’s control and could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning Selecta’s plans, objectives, goals, future events, performance or other information that is not historical information. All statements other than statements of historical fact referred to in this press release are forward-looking statements. Forward-looking statements give Selecta’s or the Group’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements, as well as those included in any other material, are subject to known and unknown risks, uncertainties and assumptions about Selecta, its present and future business strategies, trends in its operating industry and the environment in which it will operate in the future, future capital expenditure and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur or Selecta’s or the Group’s actual results, performance or achievements might be materially different from the expected results, performance or achievements expressed or implied by such forward looking statements. None of Selecta, its affiliates or their respective directors, officers, employees, agents or advisers undertake to publicly update or revise forward- looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
Selecta Group AG
Sarina Künzli Group Communication Leader Alte Steinhauserstrasse 14 6330 Cham – Switzerland +41 78 818 31 16 www.selecta.com
About Selecta Group
Headquartered in Switzerland since 1957, Selecta Group is a Foodtech company with a leading route based, self-service distribution network in Europe, offering innovative convenience food services and world-class quality coffee brands in the workplace and public spaces. Active in the food tech business we continuously push on new innovations and solutions, we serve premium coffee and beverages, snacks, and fresh meals to more than 10 million people in 16 countries across Europe every day. With an annual turnover of €1.4 billion, we owe our success to our ca. 6,200 highly skilled, dedicated, and passionate Selecta employees who are committed to creating millions of moments of joy for our clients and their consumers every day. Sustainability is an integral part of the way we do business, focused on the key areas in which we can make a positive difference. For more information, please visit www.selecta.com.
