Groupe Berkem: Postponement of Financial Targets by One Year Due to Adverse Economic Climate

Regulatory News:

Groupe Berkem (Paris:ALKEM), a leading player in bio-based chemistry (ISIN code: FR00140069V2 - Ticker: ALKEM), announces, within the framework of the review of its 2024 budgets, the postponement by one year of its financial targets, initially planned for the 2024 financial year.

Within the framework of its IPO in 2021, the Company had initially announced a revenue target of at least €65 million in 2024, which could be raised to at least €85 million in the case of external growth operations. By the same date, the Group's target was to achieve an EBITDA margin of around 25%.

However, due to the deteriorating economic and geopolitical context since the conflict in Ukraine, the Group experienced a general rise in operating costs due to inflation, and a sharp slowdown in its "Construction & Materials" and "Hygiene & Protection" divisions, impacted by a building market that slowed sharply in recent months, also due to inflationary pressures.

The Group remains confident in its future growth; its "Health, Beauty & Nutrition" and "Industry" divisions are experiencing excellent sales momentum in 2023, and the numerous investments - notably in R&D and regulatory affairs with the aim of strengthening its "product" innovations - new hires and external growth operations made this year should rapidly bear fruit to accelerate the Group's growth.

As evidence of Groupe Berkem's know-how and expertise, several product launches have been completed since the beginning of 2023, including Termifuge K, a boosted solution for the “Hygiene & Protection” division, H2OLIXIR, a new range of 100% natural floral waters designed to meet the needs of the cosmetics industry, and the Biombalance range, made up of natural active ingredients that strengthen the Group's position in the fast-growing food supplements market. Several product launches developed by the Group for all its divisions are also expected before the end of the year.

Targets remain unchanged, but the Group now aims to achieve them by 2025.

Next financial publication :

2023 First-Half Results and Third-Quarter Revenue, October 26, 2023 (after market close)

ABOUT GROUPE BERKEM

Founded in 1993 by Olivier Fahy, Chairman and Chief Executive Officer, Groupe Berkem is a leading force in the bio-based chemicals market. Its mission is to advance the environmental transition of companies producing the chemicals used in everyday life (Construction & Materials, Health, Beauty & Nutrition, Hygiene & Protection, and Industry). By harnessing its expertise in both plant extraction and innovative formulations, Groupe Berkem has developed bio-based boosters—unique high-quality bio-based solutions augmenting the performance of synthetic molecules. Groupe Berkem achieved revenue of €51.8 million in 2022. The Group has almost 200 employees working at its head office (Blanquefort, Gironde) and 4 production facilities in Gardonne (Dordogne), La Teste-de-Buch (Gironde), Chartres (Eure-et-Loir) and Tonneins (Lot-et-Garonne).

Groupe Berkem has been listed on Euronext Growth Paris since December 2021 (ISIN code: FR00140069V2 - ALKEM).

www.groupeberkem.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20231013099235/en/

Groupe Berkem Olivier Fahy, Chairman and CEO Anthony Labrugnas, Chief Financial Officer Phone: +33 (0)5 64 31 06 60 investisseurs@berkem.com

NewCap Investor Relations Mathilde Bohin / Nicolas Fossiez Phone: +33 (0)1 44 71 94 94 berkem@newcap.eu

NewCap Media Relations Nicolas Merigeau / Antoine Pacquier Phone: +33 (0)1 44 71 94 94 berkem@newcap.eu

Groupe Berkem (EU:ALKEM)
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