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Robertet Earnings Release 2023
1630_iss_2024-02-16_765fc371-a5e3-4dbd-9494-208d66002f01.pdf
Earnings Release
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Robertet SA 37 Avenue Sidi Brahim 06130 Grasse – France French joint-stock company (société anonyme) with share capital of €5,763,972.50 Registered with the Grasse Trade and Companies Registry under number B 415 750 660
2023 SALES
Robertet's Board of Directors met on February 15, 2024 under the chairmanship of Philippe Maubert to review the Group's 2023 sales and business trends.
February 15, 2024
| Consolidated financial statements (in thousands of euros) |
2021 | 2022 | Change (2022 vs 2021) |
2023* | Change (2023 vs 2022) |
|---|---|---|---|---|---|
| Sales | 606,085 | 703,037 | +16.0% | 721,129 | +2.6% |
* Sales figures are estimates and have not yet been audited.
The change in sales between 2022 and 2023 breaks down as follows in terms of organic growth, scope effect and currency effect:
| In thousands of euros |
2022 sales | Organic growth |
Currency effect |
Scope effect |
Total change |
2023 sales* |
|---|---|---|---|---|---|---|
| GROUP TOTAL |
703,037 | +4.5% | -2.9% | +1.0% | +2.6% | 721,129 |
* Sales figures are estimates and have not yet been audited.
Sales grew by 2.6% in 2023, or 1.5% on a constant scope basis.
At constant exchange rates, Group sales were up 5.5%. On a comparable exchange rate and scope basis, organic growth came out at 4.5%.
Robertet's 2023 sales performance breaks down as follows by division:
-
Raw Materials, representing 23.2% of sales, were down 9.6% due to the continued downturn in the US aromatherapy market and in organic products.
-
Fragrances, accounting for 37.9% of sales, were up by a strong 9.3%, driven by the success of emerging brands and their international expansion.
-
Flavors, representing 36.0% of sales, grew by 5.1%, reflecting the division's sound position in a market that contracted in 2023.
-
Health & Beauty, accounting for 2.9% of sales, rose by 3.9%, as the division continued to roll out its business internationally with high-quality natural active ingredients.
The Group's organic growth in sales of 4.5% was fueled by North America, Asia and South America, while growth remained stable in Europe.
Robertet's 2023 audited results will be available in its annual financial report, to be published on the Group's website on April 19, 2024. EBITDA for 2023 looks set to have increased, and the EBITDA/sales ratio to have contracted slightly from 18.3% in 2022.