- Continued growth in sales of +11.6 % at SI 2022, driven by the good performance of the Formulation cluster (+12.7 %)
- Price increases starting in May 2022 to gradually cover inflation in raw materials
Berkem Group, a leading player in plant-based chemistry (ISIN code: FR00140069V2 - mnemonic: ALKEM) announces its sales for the first half of 2022.
Olivier FAHY, Chairman and CEO of the Berkem Group states: " The Berkem Group recorded solid growth in its sales during the first half of the year, illustrating the real appetite of manufacturers for our biosourced solutions, which has been further accentuated by the current high volatility of the oil market. In addition, faced with the rise in the price of certain raw materials, we were able to take action very early on to gradually offset their effects on our margins. This half-year was also an opportunity to formalize our collaboration with the Soprema group, which is seeking to develop a natural solution to increase the performance and resistance of its insulation panels to microorganisms. This partnership demonstrates the expertise acquired by our R&D teams and we hope to conclude new agreements of this type with industrialists in demand for naturalness. Thus, we are perfectly positioned to pursue healthy and profitable growth over the long term and to achieve the objectives set out at the time of our initial public offering. "
H1 2022 revenues at €28.1m, up +11.6 1Q6
At June 30, 2022, the Group's consolidated revenues were up 11.6 1TP6Q compared to the first half of 2021, at €28.1 million.
The Vegetal Extraction expertise pole contributed 29 % to this performance, or €8.1M. After a 1st quarter with very strong activity (+35.7 % vs. Q1 2021), the Vegetal Extraction expertise pole recorded a more moderate turnover in the 2nd quarter, due in particular to a slowdown in the "nutritional supplement" activity as well as a slight drop in Eurolyo's activity in the second quarter. At the end of the first half of 2022, the plant extraction division nevertheless showed growth of 8.9 1TP6Q, compared with the first half of 2021. Revenues of the Formulation expertise pole amounted to €19.9M, representing 71 % of the Group's total activity. This performance is mainly due to volume increases, with price increases only taking place from May 2022. The Formulation division posted sustained growth in sales in Q2 (+19 % compared to Q2 2021) and showed an increase of 12.9 % compared to H1 2021. The Lixol subsidiary alone recorded an increase in revenues of over 20.6 % in the first half of this year. The increase in activity in this segment partially compensated for the increase in raw material prices. The price increases, effective since May, June and July, should make it possible to gradually recover normal gross margins.
