- Continued revenue growth of +11.6% in SI 2022, driven by the good performance of the Formulation division (+12.7%)
- Price increase committed from May 2022 to gradually cover the inflation recorded on raw materials
Berkem Group, a leading player in plant chemistry (ISIN code: FR00140069V2 – mnemonic: ALKEM) announces its turnover for the first half of 2022.
Olivier FAHY, Chairman and Chief Executive Officer of Groupe Berkem, said: " The Berkem Group recorded solid revenue growth over the half-year, illustrating the real appetite of manufacturers for our bio-based solutions, further accentuated by the high volatility of the current oil market. In addition, faced with the rise in the prices of certain raw materials, we were able to take actions very early on that gradually offset their effects on our margins. This semester was also an opportunity to formalize our collaboration with the Soprema group, which seeks to develop a natural solution to increase the performance and resistance of its insulation panels against microorganisms. This partnership demonstrates all the expertise acquired by our R&D teams and we hope to conclude new agreements of this type with manufacturers in demand for naturalness. Thus, we are perfectly positioned to pursue healthy and profitable growth over the long term and achieve the objectives set out in our IPO. »
Revenue for the first half of 2022 at €28.1 million, up +11.6%
At June 30, 2022, the Group's consolidated revenue was up 11.6% compared to the first half of 2021, to €28.1 million.
The Extraction Végétale division of expertise contributed 29% to this performance, or €8.1 million. After a very strong 1st quarter (+35.7% vs. Q1 2021), the plant extraction expertise division 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 decrease in Eurolyo's activity in the second quarter. At the end of the 1st half of 2022, the crop extraction division grew by 8.9%, compared to the 1st half of 2021. The Formulation division of expertise generated €19.9 million, representing 71% of the Group's total activity. This performance is mainly due to increases in volume, price increases did not occur until May 2022. The Formulation division posted sustained revenue growth in Q2 (+19% compared to Q2 2021) and posted an increase of 12.9% compared to the first half of 2021. The Lixol subsidiary alone recorded an increase in revenue of more than 20.6% in the 1st half of this year. The increase in activity in this division makes it possible to partially offset the increases in the price of raw materials. Tariff increases, effective since May, June and July, should make it possible to gradually recover normative gross margin rates.