Q1 2023 RESULTS

Cham, 03 May 2023, Selecta Group, a Swiss-based Foodtech leader with a world-class distribution network in Europe, announces its results for the first quarter of 2023. The results show the following:

• Group sales2 of €309.1 million, increased by 11.7% versus last year, driven by recovery in the private sector (+14.7% versus last year), strong public sector performance (+10.6% versus last year), and supported by strong commercial initiatives
• Continued positive trend in sales per machine per day reaching new record high of €12.5, an increase of 30.5% versus last year
• Adjusted EBITDA3 of €53.1 million, an increase of 15.0% versus last year, and Adjusted EBITDA3 margin of 17.2%, driven by cost discipline and structural productivity gains
• Reported EBITDA of €51.3 million, an increase of 22.4% versus last year, driven by higher Adjusted EBITDA and normalization of transformation actions
• Free cash flow of €6.2 million and broader action plan to deliver cash conversion led to strong liquidity4 of €133.4m

Executive Chairman, Joe Plumeri, commented:

“We have the right tools, the right solutions, and the right associates to deliver on our purpose – delivering millions of moments of joy to our clients and consumers every day. It makes me proud to see the trust that our long-standing clients have in Selecta and our ability to meet their business needs.”

Christian Schmitz, Selecta Group CEO, added:

“Despite the challenging economic environment, we delivered a strong start to 2023 by keeping client needs at the core of our business and maintaining cost discipline. We continue to focus on our Foodtech offering to meet the changing needs of today’s workforce and see strong growth in these modern solutions.”

Selecta reports strong business wins in Q1 2023 across markets and sectors. In the UK, Selecta signed a contract with Sainsbury’s one of the biggest supermarket chains for 97 premium coffee solution installations. In Italy, Selecta extended the existing contract with ENI, a leading Italian petroleum and energy company, with over 1,600 coffee and impulse solutions

In Q1 2023, Selecta celebrated strong growth of the modern, fresh food solutions in cooperation with local retailers. Selecta reported 65 installations of COOP to Go in Switzerland, over 50 with Delhaize in Belgium and more than 135 with Albert Heijn in Holland. Versus last year, Selecta’s sales from Foodtech fresh food solutions have increased by 46.6%.

Selecta also kicked off 2023 with in-depth trainings for the Service and Client Solutions (Sales) departments across markets, investing in the development of associates. With the right tools and know-how of its associates, Selecta will be able to do even more to create millions of moments of joy for clients and consumers.

1 At actual exchange 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 €49.0 million plus €84.4 million available RCF