Omer-Decugis & Cie, an international group specialising in fresh and exotic fruits and vegetables, today announces its results for the first half of the 2023/24 financial year (1 October 2023 to 31 March 2024), as approved by the Board of Directors on 17 July 2024, and its revenue for the third quarter of 2023/24 (1 April to 30 June 2024). The 2023/24 half-year financial report will be released by 31 July 2024.
Vincent Omer-Decugis, Chairman and CEO of Omer-Decugis & Cie, said: "We posted a very strong performance in the first half of 2023/24, in line with the positive momentum built up in the second half of 2022/23. Growth went hand-in-hand with a sharp improvement in earnings for the period, thereby confirming the strategy we have developed over the last few years. As such, we have demonstrated the relevance of our strategic growth investments and the strength of our business model encompassing all exotic segments and fresh produce distribution channels, including the wholesale business.
Both divisions maintained steady growth during the first half of 2023/24, bringing our revenue to €123.9 million, up 18.3% compared to the previous year. Bolstered by a significant increase in sales in the fresh cut segment, our outstanding performance in the pineapple segment illustrates the quality of our offering, which meets the expectations of French and European customers in search of a diversified dietary range. The first half was also characterised by the strengthening of our production capacities in France, along with two strategic acquisitions (Champaris France, EMA'S) and the expansion of our influence in Northern Europe through export market share gains representing 28% of revenue.
Thanks to strong business momentum and tight cost control, we posted a sharp increase in EBITDA to €4.4 million, generating an EBITDA margin of 3.5%. This performance confirms our 2025 targets while laying the foundations for our future profitable growth strategy."
H1 revenue of €123.9 million, up sharply by 18.3% on the previous year
Both divisions contributed similarly to the 18.3% increase in H1 2023/24 revenue (including 13.2% organic growth). The SIIM division posted sustained growth of 16.6% (including 15.5% organic growth), driven by buoyant sales momentum in the BPMA segment (bananas, pineapples, mangoes, avocados) and strong growth in the exotic and ethnic segments (lychee, dragon fruit, tropical avocados, star fruit, etc.). The acquisition of EMA'S, a Danish importer specialising in exotic fruits and vegetables, bolstered both the sales force and the division's offering across Northern Europe and Scandinavia.
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For more information:
Emeline Pasquier
Omer-Decugis & Cie
Email: [email protected]
www.omerdecugis.com