Selecta Full-Year Report 2023
Our 2023 results show the continued execution of the strategic roadmap we put in place over three years ago. We are managing the business more efficiently and our performance improvement reflects our renewed purpose, vision, distinctive solutions and service culture. We are confident in what we can achieve for 2024 and beyond because of our strong underlying growth, robust pipeline, and commercial momentum, particularly in solutions.
Highlights
- Strong Adjusted EBITDA2 of €246.8 million, 13.9% increase versus last year and Adjusted EBITDA margin of 20.4%, 2.1pp increase versus last year, reflecting the impact of our strategic initiatives, with commercial momentum and cost efficiency benefits felt across the group.
- Reported EBITDA of €206.9 million, 25.3% increase versus last year and Reported EBITDA margin of 17.1%, 3.1pp increase versus last year.
- Group sales3 of €1,208.3 million, up 2.4% versus last year, reflecting strong underlying growth from net new business and pricing offset by the impact of exiting unprofitable business. Group sales up 5.5% versus last year excluding intentional churn.
- The positive trend in sales per machine per day (SMD) continues, reaching €13.0, up 12.6% versus last year. This reflects record Semi-Public SMD, Foodtech growth and the removal of underperforming machines as part of our SMD enhancement project.
- Strong free cash flow of €86.2 million due to our cash generation action plan contributing to robust liquidity4 of €144.9 million by year end.
