Financial results FY 2021 versus FY 2020:
- Revenue increased by 17.1% to €4,550 million
- Normalized EBITDA increased by 34.2% to €381 million
- Normalized EBITDA margin increased by 110bps to 8.4% of revenue
We have recorded strong performance in 2021 with revenue increasing by 17.1% versus 2020 to €4,550 million, of which 4.7% was organic growth and the remainder from acquisitions. Normalized EBITDA increased by €97 million to €381 million, of which €61 million came from organic improvements.
The results were driven by market growth, delivery on our strategic initiatives and successful acquisitions. The markets in which we operate have been recovering from last year’s COVID impact. In addition, we have benefitted from inflationary tailwinds as well as from the continued strong demand for home renovations.
Remco Teulings, CEO of BME Group, commented:
“I am pleased with the strong performance in 2021 with revenue and EBITDA growth across all our reporting segments. We have made significant progress again on the execution of our key strategic initiatives, especially in Procurement and Organizational Efficiency.
The integration of our recent acquisitions in the Netherlands, Germany, and in South-West Europe is in full progress with solid performance of all acquired businesses. We also see promising results from synergies, all contributing to our EBITDA growth. Additionally, we have made great progress towards implementing our defined ESG roadmap in the short, medium, and long term.
With these results, we can look back on another successful year and we expect to continue delivering on our ambitions for the coming years.”