Selecta Announces Q3 Report

Dec. 3, 2020

Selecta has announced its results for the three months ended September 30, 2020, noting the impacts of COVID-19 and lockdown measures.  

Q3 Performance Summary[1]

The Group’s financial performance continued to be impacted by COVID-19 and lockdown measures implemented across Europe, resulting in reduced time spent in the workplace and lower footfall in travel hubs. 

However, quarterly sales evolution showed a sequential improvement between Q2 and Q3 versus corresponding periods in FY19 as lockdown measures were eased, with a revenue reduction of -29.8% in Q3 compared to -47.3% in Q2. 

·        Revenue fell by 29.8% to €289.3 million for the three months ended 30 September 2020 (three months ended 30 September 2019: €412.2 million) 

  • Adjusted EBITDA2,3 reduced by 58.1% to €29.9 million for the three months ended 30 September 2020 (three months ended 30 September 2019: €71.5 million), integrating mitigation actions taken to reduce operating costs.   
  • Reported EBITDA3 was €11.2 million, down 78.3% compared with the three months ended 30 September 2019: €51.9 million, reflecting one-off costs of €18.7 million to support rightsizing of the business
  • While Q3 sales and profitability were ahead of expectations, the second wave of the virus in Europe has resulted in new lockdown measures and a more cautious sales outlook for Q4. Further actions are being taken to mitigate these impacts and ensure proper delivery of profitability and cash-flows.
  • The recent completion of the recapitalization gives sufficient liquidity headroom to execute the ONE Selecta strategy.  
  • Reconfirmation of our long-term plan and focus on the execution of our vision to transform and grow the Company. 

The full report may be viewed here


logo 569fca33201d9

Selecta Announces CFO Transition

Jan. 20, 2016
Cham, Switzerland: Selecta Group, a leader in the European vending and coffee services market, today announced that Hugues Rougier will become interim Chief Financial Officer ...