CHAM, Switzerland – Selecta Group, a Swiss-based leader with a world-class pan-European distribution network, has recently announced its results for the twelve months ended 31 December 2023. The company reported strong Adjusted EBITDA of €246.8 million, 13.9% increase versus last year and Adjusted EBITDA margin of 20.4%, 2.1pp increase versus last year, reflecting the impact of our strategic initiatives, with commercial momentum and cost efficiency benefits felt across the group.
Reported EBITDA was of €206.9 million, 25.3% increase versus last year and Reported EBITDA margin of 17.1%, 3.1pp increase versus last year.
Group sales reached €1,208.3 million, up 2.4% versus last year, reflecting strong underlying growth from net new business and pricing offset by the impact of exiting unprofitable business. Group sales up 5.5% versus last year excluding intentional churn.
The positive trend in sales per machine per day (SMD) continues, reaching €13.0, up 12.6% versus last year. This reflects record Semi-Public SMD, Foodtech growth and the removal of underperforming machines as part of our SMD enhancement project.
Strong free cash flow of €86.2 million due to our cash generation action plan contributing to robust liquidity4 of €144.9 million by year end.
Joe Plumeri, Executive Chairman, commented:
“Our transformation has enabled us to deliver strong 2023 financial performance, despite challenges in the broader macroeconomic environment. We see an encouraging mix of strong underlying growth, commercial momentum in solutions and improving margins and cash flow across our business.”
Christian Schmitz, Selecta Group CEO, added:
“Our vision to become the European Foodtech leader and distributor of world-class brands set us on a transformative journey in 2020. Today, Selecta’s FY 2023 performance shows that the hard work and focused actions of all our teams are translating into improved operating and financial performance.”
