Selecta Group reports strong profitability in Q2 2023

Aug. 4, 2023
Selecta Group announced its results for the second quarter of 2023.

Selecta Group, a Swiss-based Foodtech leader with a world-class distribution network in Europe, announced its results for the second quarter of 2023:

  • Strong adjusted EBITDA of €63.1 million, 21.1% increase versus last year, and adjusted EBITDA margin of 20.6%, improvement driven by structural productivity and cost discipline.
  • Reported EBITDA of €55.6 million, 20.9% increase versus last year as a result of higher adjusted EBITDA and transformation actions normalizing.
  • Profitability expansion across all regions and record sales per machine per day of €13.1, an increase of 20.9% versus last year.
  • Group sales of €307.2 million, 3.0% sales growth versus last year in a period of strong profitability focus.

Executive chairman, Joe Plumeri, said in the announcement: “I am pleased to share Selecta’s strong results for the first half of 2023. We continue to lead the Foodtech Market, consistently meeting our clients' needs with world-class brands and outstanding service. Moving forward, our focus remains on delivering millions of moments of joy to our consumers.”

Christian Schmitz, Selecta Group CEO, added in the announcement: "We are proud to share Selecta’s strong results in Q2 2023. Our relentless pursuit of innovation and strategic partnerships have driven expansion of our Foodtech solutions. And our focus on cost discipline continues to deliver strong profitability.”

Selecta’s foodtech installations have increased significantly mainly due to food markets (1,430 total points of sale, +50% vs. last year) and of intelligent vending solutions (850 total points of sale, +150% vs. last year) expansion across Europe by the end of June 2023, leading to a strong sales growth of its foodtech solutions. The integration of Smart Fridges with fresh food and Premium Coffee Solutions at Novotel, a prominent player in the hospitality industry, is an example where the company delivers value, convenience and quality to hotel guests.

Selecta’s partnership with Mars, a leading confectionery player in Europe, has also driven significant growth in smart vending solutions across the U.K., Belgium and Austria. Most recently, Selecta Austria took over the Mars machine park at 350 locations across the country. Together, the company is optimizing self-service and offering innovative smart solutions to its consumers.

Selecta has also partnered with Coca-Cola to digitize Coca-Cola’s machine park across locations in the entertainment, education and healthcare sectors in the U.K. They are jointly creating a more modern experience for the Coca-Cola consumers.

In Selecta's birthplace, Switzerland, two important milestones have been reported in Q2 2023. The launch of the 100th “Coop to Go” micro market showcases Selecta’s strong local partnerships and the relevance this solution has for companies across the country. In addition, Selecta and SBB, the Swiss Federal Railways, continue their journey together with a renewed partnership. Selecta has built a relationship with SBB based on trust, reliability, and a clear focus on consumer satisfaction. Coupled with high-quality products and unparalleled service and expertise, Selecta’s "public vending" at railway stations was extended for another seven years.

In line with its commitment to sustainability, Selecta reports strong progress across its sustainability initiatives. The company reports a 25% reduction in CO2 emissions from its operations compared to its 2019 baseline. The company has also expanded farm level programs, directly supported 1,371 farmers across five markets and fostering a sustainable coffee supply chain. These accomplishments demonstrate Selecta's dedication to excellence, innovation, and environmental responsibility, marking a significant milestone on its journey toward a brighter and more sustainable future.


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