- Strengthening of the Group in 2022 in its four markets
"Construction & Materials", "Hygiene & Protection",
"Health, Beauty & Nutrition", "Industry" in France and
internationally
Regulatory News:
Groupe Berkem, a leading player in bio-based chemistry
(ISIN code: FR00140069V2 - Ticker: ALKEM) (Paris:ALKEM), today
announced its consolidated revenue for the year to December 31,
2022.
Olivier FAHY, Chairman and Chief Executive Officer of the
Groupe Berkem, stated: "Despite the 2022 financial year being
marked by an inflationary context and persistent geopolitical
tensions, Groupe Berkem managed to stay on course and continue its
growth dynamic, on track to achieve its 2024 objectives. This was
made possible by strategic investments, in particular in Lixol,
which recorded a good performance over the entire period. In
addition, in the fourth quarter, we strengthened our international
coverage by joining forces with the Barentz group, which now
distributes our ingredients in North America as well as in Germany,
Austria and German-speaking Switzerland. We also continue to be
very active in launching new sustainable solutions to accelerate
the ecological transition of our customers, such as our new product
Ki'Leaft®. In 2023, we intend to strengthen our growth and will
remain attentive to external growth opportunities that may
arise.”
Revenue in € millions
2022
2021
Change
1st quarter
13.8
12.1
+14%
2nd quarter
14.3
13.1
+9%
3rd quarter
11.2
11.0
+2%
4th quarter
12.5
9.9
+26%
Full-Year Revenue
51.8
46.1
+12%
2022 Fourth-Quarter Revenue
The Group's business recorded revenue of €12.5 million in the
fourth-quarter of 2022, representing an increase of +26.3% compared
to the same period in 2021.
During this quarter, the Plant Extraction division grew
by 40.1% compared to the same period in 2021, achieving revenue of
€4.3 million. The Berkem business, dedicated to the development of
vegetable extracts, contributed to this good dynamic with growth of
46.4% over the period compared to the fourth-quarter of 2021,
achieving revenue of €3.9 million. Revenue generated by the Eurolyo
subsidiary, which is specialized in freeze-drying, fell by 3% to
€0.4 million. The Formulation division's revenue reached
€8.2 million in the fourth-quarter of 2022, representing growth of
20.1% compared to the fourth-quarter of 2021. Over the same period,
the Lixol subsidiary, expert on the alkyd resin market, saw a
strong increase in revenue of 120.3%, reaching €2.1 million,
compared to the fourth-quarter of 2021. Revenue generated by
Adkalis, producing protection solutions for timber, increased by
3.8% to €6.1 million.
2022 Full-Year Revenue
As at December 31, 2022, Groupe Berkem's full-year revenue
reached €51.8 million, up 12.4% compared to the 2021 financial
year.
Over the year, the Plant Extraction division contributed
30.9% of revenue to December 31, 2022, or €16 million. Berkem's
business stands at €14.6 million, up 12.1% compared to the same
period in 2021. The Eurolyo subsidiary's business decreased by 7.6%
to €1.4 million compared to €1.5 million in 2021. The revenue of
the Formulation division amounted to €35.8 million,
representing 69.1% of the Group's total revenues in 2022. The
Formulation division posted an increase of 13.5% compared to 2021,
thanks in particular to the performance of the subsidiary Lixol,
whose revenues grew by 55.7% compared to 2021 to reach € 9.2
million.
At December 31, the Group held 189 marketing approvals and a
further 73 applications are currently under review.
Cash position as at December 31, 2022
On 26 July 2022, the Company strengthened its financial
structure with 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 financial resources provide the
Group with greater means to carry out external growth operations.
To date, the Group has activated a €21.5 million funding line
through this facility.
At December 31, 2022, Groupe Berkem held a net cash position of
€10.7 million.
2022 Fourth-quarter highlights
In October 2022, Groupe Berkem announced an exclusive
partnership in North America - effective November 1st, 2022 – with
Barentz, for the distribution of the Group's sustainable
ingredients in the "Health, Beauty & Nutrition" market. This
exclusive collaboration was extended in November 2022, with Barentz
also becoming the exclusive distributor of Groupe Berkem's
sustainable ingredients in Germany, Austria and German-speaking
Switzerland.
In November 2022, the Group announced the launch of a new active
ingredient, Ki'Leaft®, on the "Health, Beauty & Nutrition"
market. It is a 100% natural, upcycled1, COSMOS-certified kiwi leaf
extract and produced locally, near Groupe Berkem's extraction plant
in Dordogne (France).
Outlook
The Group confirms its ambition to achieve revenue of at least
€65 million by 2024, which could be increased to at least €85
million in the event of external growth. By the same date, the
Group's objective is to achieve an EBITDA margin of around 25%.
Next financial publications:
- 2022 Full-Year Results and 2023 First-Quarter Revenue:
April 27, 2023 (after market close)
- Annual General Meeting: June 13, 2023
ABOUT THE GROUPE BERKEM
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 (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 €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).
www.groupeberkem.com
1 Upcycling*: the recycling of a product to give it a second
life with higher added value.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230131005792/en/
Groupe Berkem Olivier Fahy,
Chief Executive Officer Anthony Labrugnas, Chief Financial Officer
Tel.: +33 (0)5 64 31 06 60
investisseurs@berkem.com
NewCap Investor Relations
Mathilde Bohin / Nicolas Fossiez Tel.: +33 (0)1 44 71 94 94
Berkem@newcap.eu
NewCap Media Relations
Nicolas Merigeau/ Antoine Pacquier Tel.: +33 (0)1 44 71 94 94
Berkem@newcap.eu
Groupe Berkem (EU:ALKEM)
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