Floridienne S.A.

Earnings Release • Nov 29, 2024

Floridienne Group - Press release – Regulated information - Transmitted on 29 November 2024 5.40 pm

INTERIM STATEMENT

Financial statements as at 30 September 2024

Thanks to the dynamism of its historical activities and the successful integration of BIOTROP, the Floridienne Group recorded strong growth in its results as at the end of September 2024 compared with the previous financial year: sales amounting to EUR 502.4 million (+25%), EBITDA of EUR 84.9 million (+EUR 35.9 million) and a net result of EUR 17.1 million (+EUR 8.0 million).

The Life Sciences Division has grouped together its activities in the field of pollination and biocontrol under a single label, BioFirst Group. BioFirst focuses on two markets: its historical greenhouse crops market with the brands Biobest, Bioworks and Plant Products, and the open-field crops market brought in by BIOTROP, the acquisition of which was concluded in December 2023.

As at the end of September, BioFirst posted substantial growth in its operating results thanks to strong demand on its main markets. Its historical greenhouse crops market proved particularly dynamic compared with the same period last year, which had been marked in northern Europe by the decision of some growers to temporarily reduce their crops during the winter owing to high energy costs. The integration of BIOTROP, the leading Brazilian company in the field of biological solutions for agriculture and one of the biggest in the world, is continuing successfully. At the end of September, BIOTROP posted a record turnover and profitability following a historic third quarter.

The Food Division recorded growth in sales and an improved EBITDA compared with the same period last year. The development and success of cold sauces in the mass retail sector and on export markets are making a significant contribution to the growth of this Division. The Division's profitability is improving thanks to the easing of the prices of certain ingredients and a focus on maintaining margins.

Finally, in the Chemicals Division, the turnover and EBITDA are down. The weakness of the price of recycled metals weighed on the performance of our recycling activity (SNAM) at the end of September. The damage linked to the fire that broke out on a SNAM site used exclusively for storage on 17 February is currently being assessed. It has been confirmed that the financial impact for the Group will be limited owing to the insurance cover in place. Kimflor, our subsidiary active in the field of PVC stabilisers in Turkey, is holding its ground despite a fall in demand further to the tightening of the country's monetary policy in an attempt to curb a hyperinflationary spiral.

"Floridienne recorded strong growth in its results at the end of September and a record EBITDA of EUR 84.9 million, up EUR 35.9 million compared with the same period last year. The Food Division is succeeding in increasing its profitability. BioFirst is growing significantly on its historical market of pollination and biological solutions for greenhouse crops. Finally, the steady growth of BIOTROP and its successful integration into BioFirst confirms that this historic acquisition was the right choice for our Group." commented Gaëtan Waucquez, CEO of the Floridienne Group.

Floridienne Group - Press release – Regulated information - Transmitted on 29 November 2024 5.40 pm

Financial calendar

Annual results 2024	31 March 2025
First interim statement	30 May 2025
Ordinary General Meeting	3 June 2025

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Contacts: Marc Blanpain, Chairman, and Gaëtan Waucquez, CEO

FLORIDIENNE is a Belgian industrial group listed on the Euronext Brussels stock market that ranks among the European or world leaders in market niches or niche markets. Its activities focus on three sectors: Gourmet Food, Life Sciences and Chemicals.