Strong first half year performance driven by a strong market, delivery on strategic initiatives and value accretive bolt-on acquisitions
Financial results H1 2021 versus H1 2020
• Revenue up (+10.6%) to €2,050 million
• Normalized EBITDA increased by 35.8% to €168 million
• Normalized EBITDA margin increased from 6.7% to 8.2%
BME realised a strong first half year performance with revenue growing by 10.6% to €2,050 million. Normalised EBITDA increased by 35.8% to €168 million. Revenue growth has been driven by strong market growth, including the rebound of COVID-19 affected markets and the recent trend in pricing of materials, as well as the contribution of past and recent acquisitions. This includes the excellent performance of the Detering Group (SHAP Germany) acquired in July 2020 and first contributions from the recent acquisitions of Grupo BMV in Spain and Mahler Group in Germany.
The Group continued its strong performance with the increase in normalized EBITDA, fuelled by market growth and the successful implementation of strategic initiatives, especially on Procurement, Commercial Excellence and Footprint.
Remco Teulings, CEO BME Group says: “With the support of the strong results in the first half year, we maintain a strong focus on executing our strategic initiatives and keep focused on value accretive acquisitions such as the announced transactions of Saint-Gobain Building Distribution the Netherlands, Maxmat in Portugal, Cronrath in Germany, De Jong & Roos in the Netherlands and Silix in France.”
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