EVOCA Group Key Financials

EVOCA Group Key Financials

in million Euros201520162016 Proforma (*)2017 Proforma (**)2018 Proforma (**)2019202020212022LTM Q3 2023
           
Revenues302299.6385.1442.1461.9462.7304.0360.4415.6449.9
           
Adjusted EBITDA (***)74.175.689.997.6106.7105.554.670.184.197.3

(*) Pro forma figures include Saeco, Ducale, Cafection as if their acquisitions occurred on January 1, 2016 and exclude discontinued business

(**) Pro forma figures include Saeco, Ducale, Cafection and Quality Espresso as if their acquisitions occurred on January 1, 2017 and exclude discontinued business

(***) We define Adjusted EBITDA as net profit (loss) plus income tax expense, net financial income (expense), depreciation, amortization, special costs, Real/Euro and Ars/Euro foreign exchange adjustments (Ars/Euro since August 2018), 2019 unrealized exchange differences on other currencies, Purchase Price Allocation effects. Adjusted EBITDA is not a measure of financial performance under IFRS and should not be considered in isolation or as an alternative to any other measures of performance derived in accordance with IFRS. Adjusted EBITDA, as presented above, may not be comparable to similarly titled measures reported by other companies. A reconciliation of Adjusted EBITDA to net profit (loss) can be found in EVOCA's financial reports.

 

EVOCA Results of Q3 2023

Q3 2023 LTM Revenue of Euro 449.9m and Adjusted EBITDA of Euro 97.3m (21.6% of Net Sales). Group performance continues to recover strongly, with increased revenue of +8.3% against FY 2022, spread across all lines of business and almost all markets, and increased Adjusted EBITDA of +15,7% against FY 2022. The Group remains focused on the optimization of costs and maintains a good liquidity position.

 

EVOCA Results of Q2 2023

Q2 2023 LTM Revenue of Euro 449.2m and Adjusted EBITDA of Euro 96.2m (21.4% of Net Sales). Group performance continues to recover strongly, with increased revenue of +8.1% against FY 2022, spread across all lines of business and almost all markets, and increased Adjusted EBITDA of +14.4% against FY 2022. The Group remains focused on the optimization of costs as well as a good liquidity position.

 

EVOCA Results of Q1 2023

Q1 2023 LTM Revenue of Euro 432.5m and Adjusted EBITDA of Euro 90.9m (21.0% of Net Sales). Group performance continues showing strong recovery over the previous 12 months with increased revenue of +4.1% against FY2022, spread across all lines of business and almost all markets, and increased Adjusted EBITDA of +8.1% against FY 2022. The Group remains focused on the optimization of costs as well as a good liquidity position.

 

EVOCA Results of FY 2022

2022 Revenue of Euro 415.6m and Adjusted EBITDA of Euro 84.1m (20.2% of Net Sales). 2022 performance shows strong recovery over 2021 with increased revenue of +15.3%, spread across all lines of business and almost all markets, and increased Adjusted EBITDA of +20.0%.

The Group remains focused on the optimization of costs as well as a good liquidity position. 

 

EVOCA Results of Q3 2022

Q3 2022 LTM Revenue of Euro 397.9m and Adjusted EBITDA of Euro 81.0m (20.4% of Net Sales) showing strong recovery over the previous 12 months. The Group remains focused on the optimization of costs, with pro forma savings of €1.6 million in place at Q3 2022 end, bringing Pro Forma Adjusted EBITDA to €82.6m.

Evoca continues to maintain a good liquidity position.

 

EVOCA Results of Q2 2022

Q2 2022 LTM Revenue of Euro 390.4m and Adjusted EBITDA of Euro 77.5m (19.8% of Net Sales) showing strong recovery over previous 12 months. The Group remains focused on the optimization of costs, with pro forma savings of €3.2 million in place at Q2 2022 end, bringing Pro Forma Adjusted EBITDA to €80.7m.

Evoca continues to maintain a strong liquidity position.

 

EVOCA Results of Q1 2022

Q1 2022 LTM Revenue of Euro 381.5m and Adjusted EBITDA of Euro 75.0m (19.7% of Net Sales) showing strong recovery over previous 12 months. The Group remains focused on the optimization of costs, with pro forma savings of €5.0 million in place at Q1 2022 end, bringing Pro Forma Adjusted EBITDA to €80.0m.

Evoca continues to maintain a strong liquidity position. 

 

EVOCA Results of FY 2021

2021 Revenue of Euro 360.4m and Adjusted EBITDA of Euro 70.1m (19.4% of Net Sales). 2021 performance shows strong recovery over 2020 with increased revenue of +18.5%, spread across all lines of business and almost all markets, and increased Adjusted EBITDA of +28.4%. The Group remains focused on the optimization of costs, with pro forma savings of €6.8 million in place at year end, bringing Pro Forma Adjusted EBITDA to €76.9m.

Outstanding operating cash flow keeping very strong liquidity position.

 

EVOCA Results of III QRT 2021

Q3 2021 LTM Revenue of Euro 329.2m and Adjusted EBITDA of Euro 59.6m (18.1% of Net Sales). Performance has been impacted by COVID-19 since March 2020, however performance has progressively improved quarter-on-quarter in 2021 (Q3 2021 +25% against Q3 2020 and -12% below Q3 2019). The Group remains focused on the optimization of costs, with pro forma savings of €1.8m million in place at the end of Q3 2021, bringing Pro Forma LTM Adjusted EBITDA to €61.4m. Meanwhile, Evoca maintains a very strong liquidity position.

 

EVOCA Results of II QRT 2021

Q2 2021 LTM Revenue of Euro 311.0m and Adjusted EBITDA of Euro 56.9m (18.3% of Net Sales). From March 2020 performance has been impacted as a result of COVID-19, but it is progressively improving over the quarter (Q2 2021 +81% against Q2 2020 and -24% below Q2 2019). The Group remains focused on the optimization of costs, with pro forma savings of €2.9 million in place at the end of Q2 2021, bringing Pro Forma LTM Adjusted EBITDA to €59.8m. Meanwhile, Evoca maintains a strong liquidity position.

 

EVOCA Results of I QRT 2021

Q1 2021 LTM Revenue of Euro 269.7m and Adjusted EBITDA of Euro 43.9m (16.3% of Net Sales). From March 2020 performance has been impacted as a result of COVID-19 and also Q1 2021 keeps being affected by the restriction measures still in place worldwide, especially in Western Europe. The Group remains focused on the optimization of costs, with pro forma savings of €3.1 million in place at the end of Q1 2021, bringing Pro Forma LTM Adjusted EBITDA to €47.0m. Meanwhile, Evoca maintains a strong liquidity position.

Evoca continues operations across all of its plants, implementing all precautionary measures.

 

EVOCA Results of FY 2020

2020 Revenue of Euro 304.0m and Adjusted EBITDA of Euro 54.6m (17.9% of Net Sales). Following a strong start to 2020, from March 2020 performance has been impacted as a result of COVID-19. Sales reached a trough of 84% below prior year in April 2020, before subsequently improving to measure 33.3% below the prior year period in H2 2020. The Group remains focused on the optimization of costs, with pro forma savings of €4.4 million in place at year end, bringing Pro Forma Adjusted EBITDA to €58.9m. Meanwhile, Evoca maintains a strong liquidity position.

Evoca continues operations across all of its plants, implementing all precautionary measures. 

 

EVOCA Results of III QRT 2020

Third Quarter 2020 LTM Revenue of Euro 345.5m and Adjusted EBITDA of Euro 68.1m (19.7% of Net Sales). Following a strong start to 2020, from March 2020 performance has been impacted as a result of COVID-19.

Evoca continues operations across all of its plants, implementing all precautionary measures. The Group is still focusing on the optimization of costs, reduction of capex and maintains a strong liquidity position.

 

EVOCA Results of II QRT 2020

Second Quarter 2020 LTM Revenue of Euro 376.1m and Adjusted EBITDA of Euro 76.5m (20.3% of Net Sales). Following a strong start to 2020, from March 2020 performance has been impacted as a result of COVID-19.

Evoca continues operations across all of its plants, implementing all precautionary measures. The Group is still focusing on the optimization of costs, reduction of capex and maintains a strong liquidity position.

 

EVOCA Results of I QRT 2020

First Quarter 2020 LTM Revenue of Euro 446.5m and Adjusted EBITDA of Euro 99.8m (22.3% of Net Sales). Following a strong start to 2020, with February YTD revenue up 5.0% and 7.5%, respectively, against the prior year, performance has been impacted from March as a result of COVID-19.

Evoca has resumed operations across all of its plants, implementing all precautionary measures. The company is also focusing on the optimization of costs, reduction of capex and maintains a strong liquidity position.

  

EVOCA Results of FY 2019

2019 Revenue of Euro 462.7m in line with prior year (Euro 0.8m more than 2018 of Euro 461.9m), with performance impacted by specific one-offs, without which growth would have been 2.9%. We continued to experience strong growth in 2019 in Semi Auto Coffee and our growth initiatives (North America and APAC). Offsetting this was the negative impact from specific one-offs with a key customer and the economic downturn in South America.

2019 Adjusted EBITDA of Euro 105.5m (22.8% of Net Sales) and Adjusted Pro Forma EBITDA of €110.9m (24.0% of Net Sales). 2019 Adjusted EBITDA is Euro 1.2m below 2018 EBITDA of Euro 106.7m (23.1% of Net Sales). Decline in margin driven by investment to support expansion in North America and APAC, together with unfavourable product mix and lower overhead.

 

EVOCA Results third Quarter of FY 2019

Third Quarter 2019 Pro forma Revenue of Euro 104.7m (Euro 2.6m or 2.5% less than same period 2018 of Euro 107.3m) mainly as a consequence of the underperformance of a key customer.

Third Quarter 2019 Pro forma Adjusted EBITDA below third quarter 2018 primarily as a result of unfavorable product mix, higher production overheads due to: i) lower production volumes during summer period, and ii) investments to sustain North America and Asia&Pacific expansion, being Euro 21.5m (20.5% of Net Sales), Euro 2.9m below the same period 2018 figure of Euro 24.4m (22.8% of Net Sales).

 

EVOCA Results second Quarter of FY 2019

Second Quarter 2019 Pro forma Revenue of Euro 121.1m (Euro 0.3m more than same period 2018 of Euro 120.7m) was characterized by increased demand across the customer base, with the exception of one key customer.

Second Quarter 2019 Pro forma Adjusted EBITDA of Euro 27.5m (22.7% of Net Sales) was Euro 1m below the same period 2018 figure of Euro 28.5m (23.6% of Net Sales), primarily as a result of unfavorable product mix and slightly higher production overheads.

 

EVOCA Results first Quarter of FY 2019

First Quarter 2019 Pro forma Revenue of Euro 124.4m (Euro 5.4m more than same period 2018 of Euro 119.0m) was characterized by strong demand from small-medium sized customers worldwide as well as with increased purchase from our large customers.

First Quarter 2019 Pro forma Adjusted EBITDA increased over first quarter 2018 thanks to the increase in sales, product mix and costs synergies arising from the integration of companies acquired, being Euro 29.0m (23.3% of Net Sales), Euro 2m better than same period 2018 figure of Euro 27m (22.7% of Net Sales).

 

EVOCA Results of FY 2018

2018 Pro forma Revenue of Euro 461.9m (Euro 19.8m more than 2017 of Euro 442.1m) was characterized by strong demand from small-medium sized customers worldwide as well as with increased purchase from our large customers.

2018 Pro forma Adjusted EBITDA increased over 2017 thanks to the increase in sales and costs synergies arising from the integration process that involved the newly acquired companies, being Euro 106.7m (23.1% of Net Sales), Euro 9.1m better than the 2017 figure of Euro 97.6m (22.1% of Net Sales).

 

EVOCA Results third Quarter of FY 2018

Third Quarter 2018 Pro forma Revenue of Euro 107.3m (Euro 6.7m more than third quarter 2017 of Euro 100.6m) was characterized by strong demand from small-medium sized customers worldwide together with increased purchase from our large customers.

Third Quarter 2018 Pro Forma Adjusted EBITDA increased over 2017 thanks to sales growth and operating leverage, being Euro 24.4m (22.8% of Net Sales), Euro 2.1m better than the 2017 figure of Euro 22.3m (22.2% of Net Sales).

 

EVOCA Results second Quarter of FY 2018

Second Quarter 2018 Pro forma Revenue (excluding discontinued business) of Euro 120.7m (Euro 5.5m more than second quarter 2017 of Euro 115.3m) was characterized by strong demand from small-medium sized customers worldwide together with increased purchase from our large customers.

Second Quarter 2018 Pro Forma Adjusted EBITDA increased over 2017 thanks to the increase in sales and costs under strict control, being Euro 28.5m (23.6% of Net Sales), Euro 3.1m better than the 2017 figure of Euro 25.3m (22% of Net Sales).

 

EVOCA Results first Quarter of FY 2018

First Quarter 2018 Pro forma Revenue (excluding discontinued business) of Euro 110.8m (Euro 5.9m more than first quarter 2017 of Euro 104.9m) was characterized by strong demand from small-medium sized customers worldwide together with increased purchase from our large customers.

First Quarter 2018 Pro forma Adjusted EBITDA increased over 2017 thanks to the increase in sales and costs under strict control, being Euro 26.2m (23.6% of Net Sales), Euro 2.1m better than the 2017 figure of Euro 24.1m (23% of Net Sales).

 

EVOCA Results of FY 2017

2017 Pro forma Revenue of Euro 416.5m (Euro 31.4m more than 2016 of Euro 385.1m) was characterized by strong demand from small-medium sized customers worldwide together with increased purchase from our large customers.

2017 Pro forma Adjusted EBITDA increased over 2016 thanks to the increase in sales and costs under strict control, being Euro 95.2m (22.9% of Net Sales), Euro 5.4m better than the 2016 figure of Euro 89.9m (23.3% of Net Sales).

 

EVOCA Results third Quarter of FY 2017

Third Quarter 2017 Pro forma Revenue (excluding discounted business) of Euro 95.2m (Euro 8.8m more than third quarter 2016 of Euro 86.4m) was characterized by strong demand from small-medium sized customers worldwide together with increased purchase from our large customers.

Third Quarter 2017 Pro forma Adjusted EBITDA increased over 2016 thanks to the increase in sales, being Euro 21.6m (22.7% of Net Sales), Euro 2.2m better than the 2016 figure of Euro 19.4m (22.5% of Net Sales).

 

N&W Results Second Quarter of FY 2017
Second Quarter 2017 Pro forma Revenues of Euro 103.1m (Euro 4.3m more than second quarter 2016 of Euro 98.8m) were characterized by strong demand from small-medium sized customers worldwide and weaker demand from a few large customers.

Second Quarter 2017 Adjusted EBITDA slightly increased over 2016 thanks to the increase in sales, being Euro 23.1m (22.4% of Net Sales), Euro 0.5m better than the 2016 figure of Euro 22.6m (22.8% of Net Sales).

 

N&W Results First Quarter of FY 2017
First Quarter 2017 Pro forma Revenues of Euro 96.6m (3.3% more than First Quarter 2016 of Euro 93.6m) were characterized by strong demand from small-medium sized customers worldwide and weaker demand from a few large customers.

First Quarter 2017 Adjusted EBITDA slightly increased over 2016 thanks to the increase in sales, being Euro 21.8m (22.6% of Net Sales), Euro 0.2m better than the 2016 figure of Euro 21.6m (23.0% of Net Sales).

 

N&W Results FY 2015/2016
2016 Revenues of Euro 299.6m (0.9% less than 2015) were characterized by strong demand from small-medium sized customers worldwide and weaker demand from a few large European customers.

2016 Adjusted EBITDA increased over 2015 thanks to a favorable product and customer mix and continuing costs optimization, being Euro 75.6m (25.2% of Net Sales), Euro 1.5m better than the 2015 figure of Euro 74.1m (24.5% of Net Sales).

 

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About this information:

This information is information that Evoca Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact set out below, at 6:15 p.m. (CET) on 21 June 2017.

For further information, please contact:

Investor.Relations@evocagroup.com

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