Selecta Q1 Report 2023

MARGIN EXPANSION

• Price increase on track, Q1 landed c.6%, lead to Gross margin recovery of +2.0pp QoQ

EBITDA GROWTH

• Adjusted EBITDA of €53.1m, up +15.0%
• Reported EBITDA of €51.3m, up +22.4%
• Strong pricing initiatives and structural cost savings

STRONG SALES AND PROFITABILITY GROWTH Q1 2023 FINANCIAL SUMMARY

• Sales growth sustained by our price increase execution and driven by private recovery and strong public performance
• Gross margin (59.1%) recovered +2.0pp vs prior quarter due to one-time impacts in Q4 and successful price increase pass through
• Cost discipline and structural productivity gains lead to Adjusted EBITDA margin growth (pre IFRS16 of 14.6% up +1.3pp)
• Reported EBITDA increasing as a result of higher Adj. EBITDA and transformation actions normalising
• FCF conversion improving nonetheless Q1´s seasonality
• Cash conversion action plan contributing to strong liquidity headroom after payment of notes interest in January