Floridienne (FLOB) H1 2024 earnings summary

Executive summary

• Group turnover rose 18.6% year-over-year to EUR 317.5 million, driven by strong Life Sciences performance and recent acquisitions.

• EBITDA increased 21.9% to EUR 39.6 million, with improved profitability in Life Sciences and Food Divisions.

• Integration of Biotrop, a leading Brazilian biological solutions company, is underway, expanding presence in South America.

• Food Division saw margin improvement and growth in cold sauces exports.

• Chemicals Division faced headwinds from lower recycled metals prices and currency effects.

Financial highlights

• Turnover: EUR 317.5 million (+18.6% YoY); EBITDA: EUR 39.6 million (+21.9% YoY); EBIT: EUR 19.6 million.

• Net result: EUR 5.3 million (down from EUR 6.9 million YoY); attributable to shareholders: EUR 1.3 million.

• Consolidated equity: EUR 639.4 million, down EUR 38.6 million since Dec 2023, mainly due to Brazilian currency depreciation.

• Net financial debt: EUR 211.8 million (vs. EUR 203.1 million at Dec 2023); liquid assets: EUR 137.8 million.

Outlook and guidance

• Positive outlook for full-year 2024, with expected growth in results.

• Life Sciences Division to benefit from Biotrop integration and synergy realization.

• Food Division aims to consolidate profitability amid strong demand for cold sauces.

• Chemicals Division continues capacity investments; Kimflor expected to remain resilient.