Spadel Group : Annual results 2021

The Spadel Group posted a solid performance despite inflationary cost pressures.

The mineral water group Spadel, posted a solid performance in 2021. The Group closed the year with a 5.8 % increase in turnover and a 2.1 % increase in operating result (EBIT).

This increase in turnover was mainly due to sales on the Bulgarian market (+17 %) and in the Benelux (+4 %). This favourable evolution in turnover was due to brand dynamics and the relaxation of lockdown measures from the 2nd quarter of 2021 onwards.

The higher operating result (EBIT) was mainly due to the increased volumes sold and the continued implementation of cost-cutting measures. However, the operating result was negatively affected by higher costs of raw materials and energy in the second half of 2021.

The Group remains very alert to the very high price inflation on all prices of raw materials, packaging, energy, transport and labour observed since the second half of 2021. It is clear that this unprecedented general cost inflation, exacerbated by the war in Ukraine and the shortages of certain raw materials that are also being observed, will have an impact on the Group's results in the short and medium term. It can also be expect that this will inevitably lead to price increases for its customers. These increases are essential for ensuring the Group's profitability and to continue to invest and innovate in the coming years.

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