Towards autonomous and accountable Segments
Mensdorf, Luxembourg – November 21, 2023 (07:00 CET)
B&S Group S.A. (“B&S” or the “Company”), a company in the consumer goods industry, will today host its Capital Markets Day for investors and analysts to present its strategy update and growth plans for the period 2024-2026.
Highlights
• B&S is well positioned to take advantages of the opportunities in the consumer goods industry due to our global warehousing capabilities, our digitized processes, our network and our people.
• Our updated 2024 – 2026 strategy focuses on:
- Autonomous and Accountable Segments
- Digitization
- Operational Excellence
- Culture, Governance and Sustainability
- Value creation
- Other Strategic options such as Mergers and Acquisitions, strengthening our logistical backbone as well as opportunities in the global Government and Defense market.
- Building our centers of excellence in the Holding around Digitization, Logistics, Human Resources, Finance and Legal.
• Portfolio management across the group to create value.
• Our Mid Term financial objectives 2024 – 2026 are as follows:
- Annual organic turnover growth between 5% - 7%
- EBITDA margin between 5 – 6%
- Return on Invested Working Capital >25%
- Net Debt EBITDA leverage ratio < 3.0
- A dividend pay-out ratio of 40%
B&S signed an agreement with the minority shareholders of FNet Acquisition Company LLC (“Fragrance Net”) to acquire 12.5% of the shares in Fragrance Net for $23.9 million , of which $10.5 million is deferred over a period of 7 years in equal instalments. Following this transaction, B&S holds 87.5% of the shares in Fragrance Net.
Peter van Mierlo, CEO: “B&S owns six different segments united in branded consumer goods and operating in different markets. The six segments are operating in the following industries: Beauty, Food, Health, Liquors, Personal Care and Travel Retail. Over the past years the group as a whole has been resilient throughout volatile macro-economic circumstances. We have created a strong global network of warehouses and have continuously digitized our internal and external processes and embedded sustainability in our processes.
We create value, by distributing branded consumer goods globally, by solving complexities in the value chain, by building sustainable partnerships, by providing easy access and smart delivery and most of all by empowering our people and partners with our technology.
Our segments operate close to their markets and benefit from a decentralized management approach. All are led by strong commercial teams. The networks in which they operate are segment specific which is also true for their business models.
The acquisition of 12.5% in Fragrance Net within the Beauty segment follows from the original acquisition contract dated in 2018. As the executive board we congratulate the Beauty segment with the additional acquired 12.5%. It is another major step in the strategy execution of our largest segment.”
This press release contains information within the meaning of Article 7(a) of the Market Abuse Regulation.