CHAM, Switzerland – Selecta Group, a Swiss-based Foodtech leader with a world-class distribution network in Europe, announces its results1 for the third quarter of 2022. Group sales2 of €297.0 million, increased by 13.9% versus last year driven by recovery continuing in private segment and strong public performance.
Continued positive trend in sales per machine per day reaching €10.8, particularly driven by private recovering and solid public performance with new record-high of €29.8 supported by organic growth.
Continued tight cost management whilst structural productivity gains lead to Adjusted EBITDA3 of €56.5 million, increased by 7.7% versus last year and Adjusted EBITDA3 margin of 19.0%.
Strong liquidity4 of €138.6 million, due to daily cash discipline and improvement actions. Protecting liquidity remains a priority while execution plan in place towards improved cash generation.
Executive Chairman, Joe Plumeri, commented:
“With Selecta’s uncompromising discipline, excellent client service and innovative FoodTech solutions, we continued to profitably grow our business in the third quarter despite the difficult economic situation in Europe.”
Christian Schmitz, Selecta Group CEO, added:
“Our focus on keeping cost low and delivering tailored solutions to meet our client needs has continued to deliver positive results in Q3. We continue to have strong retention and sizable new business wins thanks to the unique value we offer our clients and consumers.”
In Q3 2022 Selecta achieved existing and new business wins across all markets and sectors. This is a testament to Selecta’s consistent execution of its goal to create millions of moments of happiness every day by delivering value to our clients and their consumers.
Selecta’s client-facing team has been enhanced through the launch of a Graduate Program, offering talents new to the workforce an opportunity to learn from a team of experts, develop entrepreneurial skills, advance their careers and become part of a thriving company.
Q3 has also been marked by further actions to maintain profitability in a difficult economic environment. Selecta has executed price increases to mitigate the impact of rising raw material prices in European markets.
Cost reduction measures and right-sizing initiatives were enacted to optimize efficiency across the Group while maintaining Selecta’s focus on client service.
Selecta has also continued to roll out digitization of its machine park, especially with the implementation of telemetry across the machine park. This supports planning & operations and drives best in class service quality & productivity.
1 At actual exchange rates. There is no material difference from constant currency 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 €75.0 million plus €63.5 million available RCF
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 FoodTech 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 €1.2 billion, we owe our success to our ca. 7,000 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.
