Q4 & FY 2022 RESULTS
Strong performance in a challenging environment
Cham, 15 March 2023, : Selecta Group, a Swiss-based Foodtech leader with a worldclass distribution network in Europe, announces its results1 for the twelve months ended 31 December 2022:
- Group sales2 of €1,180.5 million, increased by 13.5% versus last year, sustained by our price increase execution and driven by solid net gains, private recovery and strong public performance
- Continued positive trend in sales per machine per day reaching new record-high €11.6, increased by 25% versus last year, mainly driven by private recovering and solid public performance whilst removal of underperforming machines in all segments
- Cost discipline and structural productivity gains lead to Adjusted EBITDA3 of €216.7 million, representing an increase of 8.7% versus last year and Adjusted EBITDA3 margin of 18.4%
- Strong free cash flow of €86.4 million due to cash generation action plan contributing to robust liquidity4 of €155.5 million by year end
Joe Plumeri, Executive Chairman, commented:
“Despite facing Covid, inflation, and slow economic growth in Europe during 2022, we are proud to say that Selecta overachieved its targets. We delivered strong organic growth in 2022 by understanding our clients’ needs and delivering tailored solutions which bring value to our clients and consumers.”
Christian Schmitz, Selecta Group CEO, added:
“In 2020, we set out to be the world class distributor of world class brands and started a transformation of all aspects of the company to deliver on this vision. In 2022, Selecta is fulfilling this ambition as our unique distribution capabilities and modern solutions help us win sizable new business across markets.”
2022 marks a turning point in Selecta’s transformation which started in 2020. From a decentralized company with no organic growth and high cost structure, Selecta has firmly positioned itself as the Foodtech leader in Europe.
Selecta reports a 90% growth in the number of Foodies micromarket installations in 2022 reinforcing our transformation to Foodtech leader. These solutions meet the needs of today’s consumers with 24/7 access to healthy, fresh food options.
The company keeps innovating with new, modern concepts. Together with Q8, Selecta launched the first selfservice shops for petrol stations in the Netherlands. With this smart solution, visitors can easily enjoy fresh food, cold drinks, and delicious coffee around the clock.
Selecta’s strong distribution network across Europe offers a unique ability to serve European and national clients across multiple sites. Example contracts like the leading nursing home care leader across Spain, and Vinci, France’s leading motorway concession holder, showcase this capability.
The company’s organic growth and strong EBITDA despite significant economic headwinds in 2022 are a testament to Selecta’s world-class distribution capabilities and modern solutions.
1 At actual exchange rates
2 Sales: Revenue after payment of vending fees
3 Adjusted 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)
4 Cash at Bank of €66.7 million plus €88.8 million available RCF