Gr Sarantis (SAR) Q3 2024 TU earnings summary

Executive summary

• Net Sales for the nine months ended September 30, 2024, reached €452.0m, up 27.9% year-over-year, including Stella Pack.

• Comparable Net Sales (excluding Stella Pack) rose 11.3% to €393.3m, reflecting strong organic growth.

• Integration of Stella Pack is progressing as planned, supporting both organic and inorganic growth.

• Continued focus on digitalization, efficiency, and core category investment is fueling sustainable growth.

Financial highlights

• Reported EBITDA increased 31.7% to €63.0m, with margin up to 13.9% (+41bps) year-over-year.

• Reported EBIT rose 29.9% to €48.1m, with EBIT margin at 10.6% (+16bps) year-over-year.

• Comparable EBITDA (excluding Stella Pack) up 14.3% to €54.7m; margin at 13.9% (+37bps).

• Comparable EBIT up 15.1% to €42.6m; margin at 10.8% (+36bps).

• Net Debt stood at €12.4m as of September 30, 2024.

Outlook and guidance

• On track to deliver full-year 2024 guidance as communicated during March 2024 Investor Day.

• Management remains focused on growth trajectory and strategic execution into year-end.