- Revenue of €12.0 million in 2024 Q3, stable compared to 2023
Q3
- Declining revenue in the Group’s historical core business
areas
- Dynamic growth in the “Industry” business area thanks to
investments made by the Group in the Biopress site, acquired in
April 2023
Regulatory News:
Groupe Berkem, a leading player in bio-based chemistry
(ISIN code: FR00140069V2 – Ticker: ALKEM), announces its revenue as
of September 30, 2024, and provides an update on its recent
activity.
2024 THIRD-QUARTER REVENUE
As of September 30, 2024, Groupe Berkem’s revenue for the first
nine months of 2024 reached €40.4 million, against €39.9 million
over the same period in 2023, i.e. an increase of +1.2%.
Repartition of revenue per business
area for 2024 third-quarter
In € thousands
30/09/2024
30/09/2023
% Change
Construction & Materials
5,396
5,420
-0.4%
Hygiene & Protection
2,161
2,397
-9.9%
Health, Beauty & Nutrition
3,580
3,716
-3.7%
Industry
893
406
+119.7%
Central/Shared
-
46
-100.0%
TOTAL 3rd Quarter
12,029
11,986
+0.4%
TOTAL first nine months
40,423
39,943
+1.2%
The “Construction & Materials” and “Hygiene and
Protection” business areas recorded a declining of their
activity compared to 2023 Q3 of -0.4% and -9.9% respectively,
reflecting the persistently sluggish market conditions for the
construction sector in France and abroad. The “Health, Beauty
& Nutrition” business area showed a -3.7% decrease of the
activity compared to the same period in 2023. Finally, the
“Industry” business area continues its trajectory of
development by posting a +119.7% growth compared to 2023 Q3, driven
by investments realized by the Group on the site of Biopress
company, acquired in April 2023.
HIGHLIGHTS OF THE FIRST NINE MONTHS OF 2024
External growth operation
February 2024: Acquisition of
Naturex Iberian Partners, industrial site of Givaudan in Valence
(Spain) specialized in plant extraction and marine products for
players in the food, nutrition (nutraceuticals) and cosmetics
markets. With this acquisition, Groupe Berkem significantly
increases its production capacity in plant extraction for the
“Health, Beauty & Nutrition” business area.
Activity
January 2024: Extension of the
H2OLIXIR range of 100% natural floral waters, with the launch
of two brand new 97.5% organic floral waters and intended for
players of cosmetic industry: lavender water and thyme water.
May 2024: Presentation of
BiombalanceTM and Pineol® Premium, two active ingredients
provided from the new range of the Group for Nutraceuticals
market.
Simplified tender offer project
As announced in the press releases issued on July 18, 2024, and
July 31, 2024, Kenerzeo1 intends to irrevocably offer to all of the
Company's shareholders the opportunity to acquire all of their
Groupe Berkem shares at a price of €3.10 per share through a
simplified tender offer.
On September 27, 2024, Kenerzeo filed with the Autorité des
marchés financiers a simplified tender offer project (the
“Offer”) for the shares of Groupe Berkem, together with a
Draft Information Document relating to the Offer project. Groupe
Berkem drew up and filed a Draft Response Document on October 21,
2024. The Draft Response Document includes the favorable opinion of
the Board of Directors dated October 18, 2024, as well as the
report of the independent expert. At the date of the Draft Response
Document, Kenerzeo held 80.55% of the Group's share capital and
80.54% of its theoretical voting rights.
Kenerzeo intends to apply to the AMF, as soon as the Offer
closes or within three months of the closing of the Offer, for the
implementation of a squeeze-out procedure to benefit from the
transfer of the shares not tendered to the Offer, should they
represent less than 10% of the Company's share capital.
It should be noted that the Offer project, the Draft Information
Document and the Draft Response Document remain subject to review
by the Autorité des marchés financiers.
The Draft Information Document is available on the AMF and
Groupe Berkem websites, and may be obtained free of charge from the
headquarters of Groupe Berkem (20 Rue Jean Duvert - 33290
Blanquefort) and from Banque Delubac & Cie (10, rue Roquépine -
75008 Paris). The Draft Response Document is available on the AMF
and Groupe Berkem websites, and may be obtained free of charge from
the headquarters of Groupe Berkem (20 Rue Jean Duvert - 33290
Blanquefort).
Outlook As a reminder, Groupe Berkem reconsidered its
Business Plan as well as its financial forecasts as part of the
simplified tender offer to which the Group is subjected. The Group
now expects to achieve revenue of at least €70 million by 2025, and
an EBITDA2 margin of at least 16% by 2027. In view of the numerous
investments to be made at its new production site in Valencia,
Spain, and the ever-changing economic and geopolitical context,
Groupe Berkem is not currently considering making any new
acquisition in the short to medium term.
Availability of the 2024 Half-Year financial report
The 2024 Half-Year financial report was submitted today to the
Autorité des marchés financiers and is available on the Company's
investor website.
ABOUT 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
life (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 €51.9 million in 2023.
The Group has almost 200 employees working at its head office
(Blanquefort, Gironde) and 5 production facilities in Gardonne
(Dordogne), La Teste-de-Buch (Gironde), Chartres
(Eure-et-Loir),Tonneins (Lot-et-Garonne) and Valence (Spain).
Groupe Berkem has been listed on Euronext Growth Paris since
December 2021 (ISIN code: FR00140069V2 - ALKEM).
www.groupeberkem.com
___________________________________ 1 Subsidiary owned at 91.45%
by Kenercy, itself managed by Olivier FAHY, Chairman and CEO of
Groupe Berkem. 2 Earnings Before Interest, Taxes, Depreciation and
Amortization (EBITDA), corresponds to the operating cash flow
generated by the Group, taking into account other operating income
and other operating expenses, but excluding depreciation and
amortization and the Group's financing policy.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241024253409/en/
Groupe Berkem Olivier Fahy,
Chairman and CEO Anthony Labrugnas, Chief Financial Officer
Phone: +33 (0)5 64 31 06 60 investisseurs@berkem.com
NewCap Investor Relations
Mathilde Bohin / Nicolas Fossiez
Phone: +33 (0)1 44 71 94 94 berkem@newcap.eu
NewCap Media Relations
Nicolas Merigeau
Phone: +33 (0)1 44 71 94 94 berkem@newcap.eu
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