Brief: B&S Group Q1 Turnover Up At EUR 453.3 Mln

B&S SA

16/05/2022 12:38

May 16 (Reuters) - B&S GROUP SA  BSGR.AS :
    * ANNOUNCED Q1 TRADING UPDATE
    * Q1 OVERALL TURNOVER UP 14.6% TO EUR 453.3 MLN (11.5% ON A
CONSTANT CURRENCY BASIS), ALL OF WHICH WAS ORGANIC
    * IN Q1, OVERALL INCREASED MARKETING AND TRANSPORT COSTS
SUPPRESSED GROSS MARGIN GROWTH
    * IN Q1, STAFF COSTS INCREASED DUE TO LABOUR MARKET SCARCITY
AND
INCREASED HOURLY RATES FOR WAREHOUSING STAFF IN U.S.
    * MARKET RECOVERY IN OUR DUTY-FREE, RETAIL AND TRAVEL
BUSINESS
HOWEVER IS NOTICEABLE AND ENCOURAGING AND WE FORESEE FURTHER
RECOVERY FOR THESE MARKETS IN THE REMAINDER OF 2022 - CEO
    * OUTLOOK: WE EXPECT DEMAND FOR DIGITAL SUPPLY CHAIN
SOLUTIONS TO
DEVELOP FURTHER
    * OUTLOOK: WE EXPECT INDUSTRYWIDE CONSTRAINTS IN SUPPLY
CHAINS AND
PRODUCT SCARCITY TO CONTINUE THROUGHOUT THE YEAR
    * OUTLOOK AS PROVIDED AT FY 2021 ON TURNOVER GROWTH REMAINS
UNCHANGED: TARGETS 7.5% ORGANIC GROWTH FOR 2022
    * INFLATION ON PRODUCT PRICES AND ABSORPTION THEREOF
COMBINED WITH
INFLATION ON STAFF COST AND OPERATING EXPENSES IN GENERAL IS
PRESSURING OUR EBITDA MARGIN TARGET
    * PARTIALLY FIXED COST BASE COMBINED WITH TRADITIONALLY
SLOWER Q1,
RESULTS IN LOWER EBITDA MARGINS COMPARED TO THOSE IN SEASONALLY
STRONGER H2

        
 Source text: https://bit.ly/3a4MWqX
 Further company coverage:  BSGR.AS  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))