- Strategic acquisitions of i.Bioceuticals in the US and Biopress in France:
- Strengthening the Group's solutions for its many markets
- Expansion of the offer in the nutraceutical and agri-food markets
- Securing a local supply of plant-based raw materials
- 2023 Q1 revenue of €14.5 million, up 5.1%
Regulatory News:
Groupe Berkem (Paris:ALKEM), a leading player in bio-based chemistry (ISIN code: FR00140069V2 Ticker: ALKEM), announces its revenue for the first quarter of 2023 and provides an update on its recent activity.
Olivier FAHY, Chairman and CEO of Groupe Berkem said"In 2023, Groupe Berkem will continue to implement the strategic plan announced at the time of its initial public offering. The recent acquisitions of i.Bioceuticals and Biopress have consolidated our growth model by ensuring, for the former, a presence in the strategic nutraceutical market while strengthening the Group's internationalisation and, for the latter, a local supply of vegetable oils, essential raw materials for our numerous activities aimed at industrialists. With a solid financial structure and new assets to strengthen our position as a major player in plant-based chemistry in France and internationally, we reaffirm our financial objectives for 2024.
2023 Q1 revenue
Groupe Berkem will now present the allocation of its revenue between its four business areas: Construction Materials, Hygiene Protection, Health, Beauty Nutrition and Industry.
As of March 31, 2023, Groupe Berkem's revenue for the first three months of 2023 reached €14.5m, compared to €13.8m in the first quarter of 2022, corresponding to an increase of 5.1%:
in thousands | T1 2023 | T1 2022 | Change |
Construction Materials | 6,401 | 6,270 | +2.1% |
Hygiene Protection | 3,532 | 2,985 | +18.3% |
Health, Beauty Nutrition | 4,515 | 4,470 | +1.0% |
Industry | 10 | 47 | -78.2% |
Other | 43 | 31 | +41.4% |
TOTAL | 14 500 | 13 802 | +5.1% |
The Construction Materials division posted revenue of €6.4m in Q1 2023, up 2.1% since 2022. The Hygiene Protection divisionfor its part, has increased by +18.3% since 2022, to post revenue of €3.5m in Q1 2023. The sales of i.Bioceuticals, acquired from INC, have been fully accounted for since February 15, 2023, bringing the Health, Beauty Nutrition division's revenue to €4.5m in Q1 2023, +1%. Finally, the Industry division had revenue of €0.01m in Q1 2023 and corresponds to sales of resins for applications excluding the Construction Materials segment.
2023 Q1 AND POST-CLOSING HIGHLIGHTS
External growth operations
Groupe Berkem announced in February 2023 the completion of the acquisition of i.Bioceuticals, Inc. from the Dutch INC (International Nutrition Company), the leading exclusive North American distributor of nutritional ingredients. The acquisition of this subsidiary allows the Group to distribute directly in North America its complete range of antioxidant active ingredients and thus broaden its offer by addressing the Nutraceutical business segment.
Also, in early April 2023, the Group announced the strategic acquisition of Biopress, a French producer of 100% vegetable oils and proteins. With this operation, the Group now benefits from a local supply of technical vegetable oils, consolidates its offer for the "Health, Beauty Nutrition" business line and secures new commercial opportunities in the food market.
Activity
In March 2023, Groupe Berkem launched its new range of 100% natural floral waters with 97.5% organic content, H2OLIXIR, intended for the Health and Beauty industries.
At the beginning of April, the Group launched the marketing of Termifuge K, a preventive, ready-to-use anti-termite and waterproofing solution for the construction industry. This over-activated solution reduces the content of conventional biocides by 50% thanks to the integration of a plant-based over-activator and the virtues of a plant-based insecticide, formulated by the Berkem Group.
International and Regulatory
In March 2023, the Group announced the extension of its distribution agreement with Unipex, already a distributor of the Group's plant extracts for France, to the Benelux and French-speaking Switzerland for all its ingredients for the cosmetics and personal care markets.
In April 2023, Groupe Berkem continued to strengthen its international expansion strategy by signing a partnership with Kreglinger for the distribution of its cosmetic ingredients in the UK.
CONFIRMATION OF FINANCIAL TARGETS FOR 2024
The Group confirms its ambition to achieve a revenue of at least €85 million by 2024 following the external growth operations carried out. By the same date, the Group's objective is to achieve an EBITDA margin of around 25%.
2022 annual results and availability of the 2022 annual financial report
Groupe Berkem has decided to present its 2022 financial statements under IFRS. Given the adjustments that this conversion requires, the 2022 annual results, as well as the 2022 financial report, will now be published on May 16, 2023, after market closing.
ABOUT THE 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 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 €51.8 million in 2022. The Group has almost 200 employees working at its head office (Blanquefort, Gironde) and 3 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 code: FR00140069V2 ALKEM).
www.groupeberkem.com
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Contacts:
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
