Forward-looking statement
This document contains certain "forward-looking" statements. These statements are based on management's current expectations and are naturally subject to uncertainty and changes in circumstances, which could affect materially the expected results, because current expectations and assumptions as to future events and circumstances may not prove accurate. Our actual results and events could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the 2023 Annual Financial Report of Gr. Sarantis S.A. and its subsidiaries. This document serves only informative purposes and does not form or can either be referred to as a buy, sell or hold encouragement for shares or any other fixed income instruments. Investors must decide upon their investment actions based on their own investing preferences, financial status and advice from those registered investment advisors who consider appropriate.
Although we believe that, as of the date of this document, the expectations reflected in the forward-looking statements are
reasonable, we cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither we, nor our directors, employees, advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements.
2 Sarantis Group Full Year 2023 Financial Results
With you today
Giannis Bouras | Christos Varsos |
Deputy CEO | Group Chief Financial Officer |
3 Sarantis Group Full Year 2023 Financial Results
2023 Highlights
Setting the base for sustainable organic growth
Giannis Bouras, Deputy CEO
Consistent organic growth with highest ever Net Sales
Organic revenue growth
- 482.2m
- 8.3%
Margins
GP 37.8% +370bps
EBITDA 12.8% +254bps
EBIT 9.8% +251bps
EBT 10.1% +295bps
EBITDA | EBIT | EBT | ||
€ 61.6m | € 47.1m | € 48.6m | ||
+ 35.3% | + 45.9% | + 53.2% | ||
Healthy Balance SheetEnhancing shareholder's Value
Net Cash €43.6m | Proposed Dividend €15.0m | |
Working Capital | Payout 38.2% of Net Profit | |
12 days improvement | ||
5 Sarantis Group Full Year 2023 Financial Results
Well-placed for future growth
Beauty, Skin & Sun Care
Personal
Care
Home Care
Solutions
Private
Label
Strategic
Partnerships
Other Sales
Sarantis
Group
VOLUME (units) | NET SALES |
+25.0% | +32.0% |
€ 48.2m | |
+4.2% | +17.2% |
€ 102.8m | |
-2.6% | +4.7% |
€ 164.1m | |
-5.4% | -6.9% |
€ 30.7m | |
-5.8%* | +4.6% |
€ 132.6m | |
+2.3% | € 3.9m |
-1.2% | +8.3% |
€ 482.2m | |
CONTRIBUTION
TO TOTAL SALES
10.0%
21.3%
34.0%
6.4%
27.5%
0.8%
100.00%
- Like-for-likeexcluding Wella and Johnson & Johnson: -2.6%
6 Sarantis Group Full Year 2023 Financial Results
Strong growth across all geographies
Greece
Poland
Romania
Czech &
Slovakia
West Balkans
Ukraine
Bulgaria
Hungary
Sarantis Group
NET SALES
- 156.0m
- 3.7%
- 110.4m
- 2.9%
- 79.1m
+ 14.7%
- 41.1m
- 25.2%
- 37.5m
- 11.1%
- 25.3m
+ 12.3%
- 19.7m
+ 19.2%
- 13.0m
+2.7%
- 482.2m
- 8.3%
CONTRIBUTION
TO TOTAL SALES
32.4%
22.9%
16.4%
8.5%
7.8%
5.2%
4.1%
2.7%
100.00%
7 Sarantis Group Full Year 2023 Financial Results
Simplification and efficiency - projects on track
Already brought results
- Portfolio Optimisation (-40% of SKUs)
- Stock management - cash release
- New Polipak plan in full operation
- Innovation - Fewer and bigger initiatives
- More value through Revenue Growth Management and HERO SKUs focus
Projects on track
- Integrated Business Planning Process - to be completed in Q3
- New SAP implementation - Design phase to be completed in Q2
Release value and energy in the organisation
Sarantis8 SarantisGroupGroup2023 HalfFullyearYearResults2023 Financial Results
Stella Pack S.A. completion of acquisition
- A leading Polish consumer household products player, with strong brands
- 25 years of successful presence in the home care solutions categories
- Four production facilities enhancing the production footprint of the Group
- Reinforcement of Sarantis Group's leading position in the Polish market with further enrichment of an already strong product portfolio
- Boost of further growth in the category of consumer household products
Contribution to circular economy
works only with recycled plastic for garbage bags
owns a waste separation line that manufactures internally own recycled plastic covering fully its production needs
*Stella Pack S.A. acquisition was completed on January 12th, 2024
14 Sarantis Group 2023 Half year Results
9 Sarantis Group Full Year 2023 Financial Results
Financial Performance
Delivering strong performance
Christos Varsos, Group Chief Financial Officer
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Gr. Sarantis SA published this content on 12 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2024 12:53:01 UTC.