Brief: B&S Group FY Normalized Turnover Up 14.9% To EUR 2.15 Bln

B&S SA

17/04/2023 06:17

April 17 (Reuters) - B&S Group SA  BSGR.AS :
    * PETER VAN MIERLO NOMINATED AS NEW CEO.
    * OVERALL TURNOVER INCREASED BY 14.9% TO € 2,148.2 M OVER
2022
    * NET CASH FROM OPERATIONS AMOUNTED TO € 98.8 M IN 2022
(2021: €
14.8 M)
    * DIVIDEND PROPOSAL: € 0.12 PER SHARE (40% PAY-OUT)
    * UNDERLYING FY 2022 EBITDA, ADJUSTED FOR THE ONE-OFF
PROVISIONS
IN THE FOOD SEGMENT OF € 15.8 M, CAME IN AT € 106.7 M (REPORTED
EBITDA € 90.9 M)
    * NET DEBT INCREASED FROM € 294.7 M AS PER YEAR-END 2021 TO
€
334.9 M AS PER YEAR-END 2022
    * NORMALIZED NET PROFIT FOR THE YEAR AMOUNTED TO € 49.4 M
(2021: €
54.6 M). REPORTED NET PROFIT CAME IN AT € 36.1 M
    * OUTLOOK: WE CONTINUE TO SEE UNCERTAINTIES RELATED TO
INFLATION
AND WE EXPECT THE CONSUMER BUYING BEHAVIOR TO REMAIN A FACTOR
IMPACTING TURNOVER AND MARGIN LEVELS IN 2023
    * FOR 2023, B&S PROJECTS CONTINUED TOPLINE GROWTH YET LESS
STEEP
THAN OVER 2022
    * STAFF COSTS ARE EXPECTED TO INCREASE WHILE WE WILL ENHANCE
OUR
FOCUS ON COST CONTROL MANAGEMENT TO MAINTAIN OTHER OPERATING
EXPENSES AT 2022 LEVELS
    * FOR 2023, B&S PROJECTS SLIGHT IMPROVEMENT IN GROSS MARGIN
WHEN
COMPARED TO 2022
    * IN 2023, WE DO NOT EXPECT TO MEET THE 7.5% ACQUISITIVE
TURNOVER
GROWTH TARGET

Source text: https://bit.ly/41bGsfn
Further company coverage:  BSGR.AS 

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