9M 2024 Trading Update

Strong growth momentum and solid performance

Athens, Greece – October 23, 2024 – GR. Sarantis S.A. (SAR.AT, SAR:GA) announces its nine-month trading update for the period ended September 30^th, 2024.

Nine-month 2024 highlights

• Strong 9m Net Sales performance driven by focused execution of our strategic priorities
  • 9m 2024 Reported Net Sales (including Stella Pack) grew to €452.0m vs €353.4m in 9m 2023, higher by 27.9% highlighting the contribution of Stella Pack.
  • 9m 2024 Comparable Net Sales (excluding Stella Pack) grew to €393.3m vs €353.4m in 9m 2023, higher by 11.3% on the back of the Group’s focused execution of its strategic priorities along with revenue growth management initiatives, reaffirming its focus on the development of a robust organic growth mechanism.

• Remarkable improvement in EBITDA and EBIT led by consistent focus on margins growth

Reported Figures (including Stella Pack)

• 9m 2024 EBITDA at €63.0m compared to €47.8m in 9m 2023, up by 31.7% with EBITDA margin strengthening to 13.9% (vs 13.5% in 9m 2023) up by 41bps.
• EBIT at €48.1m in 9m 2024, higher by 29.9% compared to the 9m 2023 EBIT of €37.0m. EBIT margin grew to 10.6% in 9m 2024 in comparison to 10.5% in 9m 2023, up by 16 bps year-on-year.

Comparable Figures (excluding Stella Pack)

• • 9m 2024 EBITDA of €54.7m compared to €47.8m in 9m 2023, higher by 14.3% highlighting strong operating leverage from top-line growth. EBITDA margin of 13.9% (vs 13.5% in 9m 2023) up by 37bps.
  • EBIT at €42.6m in 9m 2024, up by 15.1% vs 9m 2023 EBIT of €37.0m with EBIT margin at 10.8% in 9m 2024 vs 10.5% in 9m 2023, up by 36 bps year-on-year.

• Robust financial position with Net Debt at €12.4m as of September 30^th, 2024.          
• Integration of Stella Pack on track, as per plan, complements the organic growth.
• We remain focused on delivering our FY 2024 guidance, as indicated during the Investor Day of Sarantis Group held in March 2024.

Giannis Bouras, Chief Executive Officer of Sarantis Group, commented on the nine-month 2024 results:

“We are pleased to have delivered another solid performance for this trading period, with focused execution of our growth strategy driving the business forward. Our emphasis and continued investment in our core categories, along with the expansion of our leading market position in Home Care Solutions category on the back of Stella Pack’s integration, have led to strong results during the nine-month period of the year.  

Our steady commitment to both driving simplification and efficiency through our digitalization journey and building on our people through skills and capability development, is further fueling our sustainable growth momentum. 

As we are moving towards the end of 2024, we remain firmly on growth trajectory, focused on delivering our guidance as indicated during the Investor Day held in March 2024.

I would like to thank all our people across our markets and the Group for their energy and dedication to make our business stronger, creating together further long-term value for all our stakeholders.”

9Μ 2024 Trading Update (225.0KB)