Financial results FY 2022 versus FY 2021:
- Revenue increased by 20% to €5,465 million
- Normalized EBITDA increased by 19% to €452 million
- Normalized EBITDA margin remained stable at 8.3% of revenue
We continued our growth journey by recording another very strong performance in 2022 with revenue increasing by 20% versus 2021 to €5,465 million, of which 6% was organic growth and the remainder from acquisitions. Normalized EBITDA increased by €71 million, or 19%, to €452 million. All geographical segments showed revenue and normalized EBITDA growth. We were able to pass through most of the material price inflation, which was partly offset by a decline in volumes and an increase of our own cost base.
Our results were driven by the delivery on our strategic initiatives, synergies from previous year’s acquisitions and another 11 successful acquisitions done in 2022. Despite the uncertainties that impacted us during the year, such as economic slowdown, supply chain disruptions as well as extraordinary price and cost inflation, we were able to maintain our profitability levels.
Remco Teulings, CEO of BME Group, commented:
“Reporting record revenue and EBITDA, against the backdrop of an extraordinary year for the sector, is something we can be proud of. We continued to make good progress on the execution of our key strategic initiatives, particularly in the areas of Procurement, Commercial Excellence and Organizational Efficiency, all supported by increasing levels of digitization.
In 2022, we have made another 11 acquisitions across the 8 European countries in which we are active, following the 10 acquisitions we made in 2021. We were able to fit in these acquisitions fast and seamlessly within our existing operations leading to synergies, all contributing to our EBITDA growth.
We also progressed well with our efforts to drive sustainability within our own group. Besides setting ambitious goals for our company, we have a clear roadmap for each of our businesses for the short, medium and long-term. I am proud to publish our first Sustainability report later this month which lays out our commitments and initiatives.
We plan to continue with our profitable growth journey, whilst increasing our efforts to play a leading role as a distributor to enable the transition to a more sustainable value chain. This can only be achieved by working together closely with our customers and suppliers, and most importantly, by the efforts of our passionate and strongly committed employees.”