Selecta Group Q3 FY19 Results
“Continued organic revenue and EBTIDA growth”
Cham, 27. August 2019, Selecta Group, the leading route-based unattended self-service retailer in Europe, announces its Q3 2019 results for the three months ended 30 June 2019.
Q3 Financial Highlights1
- Revenue increased by 6.3% to €405.3m (Q3 FY18: €381.1m), with strong organic revenue growth, up 4.1% year-on-year in Q3 FY19 vs 3.4% year-on-year growth in Q3 FY18, excluding turnaround markets France and the UK
- Adjusted EBITDA rose by 15.3% to €68.1m (Q3 FY18: €59.1m), driven by synergy programme benefits together with ongoing investment in growth initiatives
- Adjusted EBITDA less net capex of €29.4m, up 13.3% (Q3 FY18: €25.9m), which has been achieved alongside an acceleration in growth, driven by portfolio expansion
1 At constant currency rates. 2018 figures are pro forma
- Sixth consecutive quarter of revenue and EBITDA growth and improved cash conversion (Adjusted EBITDA less capex), whilst integrating transformational acquisitions
- Customer retention rate at an all-time high at 95.9%, reflecting successful customer satisfaction programmes and operational improvements
- New contract wins, contract extensions and installations in the quarter include Euro Garages, Amsterdam UMC, Repsol, Cinemas PathéGaumont, SBB Swiss Railways, Madrid Barajas Airport, Texaco, Coco Cola, Volvo and Welcome Break
- Continued focus on innovation:
- Roll-out of cashless technology driving higher average transaction value
- Continued investment in technology and systems to increase efficiencies
- Completed roll-out of telemetry in Public segmentwhere technically possible
- Installation of telemetry across Private and Semi-Public machines underway
- M&A programme on track to reach our target of 3–5% annualised sales in the medium term
David Flochel, Chief Executive Officer, said:
“I am pleased to report that the business has continued its strong start to the year and sustained its positive momentum throughout Q3.
“The Group has maintained its high customer retention rate, reflecting our continued customer focused approach supported by operational and sales excellence programmes. In addition, our new business pipeline remains strong, demonstrating the effectiveness of our growth acceleration initiatives which are expected to maintain our strong pipeline into Q4 and beyond.
“Driven by our unique route-based model, underpinned by technology and innovation, Selecta remains well positioned to continue to gain market share both organically and through selective bolt-on acquisitions.”