Mensdorf, Luxembourg - August 5, 2025 (07:00 CET)
B&S Group S.A. ("B&S") a company in the consumer goods industry, today publishes its half year 2025 results ("HY 2025").
Highlights from continuing operations HY 2025
• Overall turnover increased by 4.5% to € 1,119.6 M;
• Gross profit increased by 4.2% to € 167.3 M (HY 2024: € 160.6 M), with a gross profitmargin of 14.9% (HY 2024: 15.0%);
• Personnel costs increased by 9.1% to € 88.0 M (HY 2024: € 80.7 M); staff cost grew onthe back of market conditions, investment in our workforce and increased temporary staffcost for our warehouses, especially in Q1;
• EBITDA decreased to € 47.4 M (HY 2024: € 51.0 M). EBITDA margin came in at 4.2% (HY 2024: 4.8%) mainly due to global tariff discussions, geopolitical tensions and higherstaff costs;
• Net cash from operations amounted to € 9.5 M (HY 2024: € -/-44.0 M), mainly resultingfrom working capital cash flows HY 2025 € 4.9 M, compared to HY 2024: (€ -/- 62.0 M);
• Net debt / EBITDA at June 30, 2025 stood at 3.1 (vs. 3.4 at June 30, 2024);
• Net profit from continuing operations amounted to € 14.5 M (HY 2024: € 15.8 M).
Results for HY 2025, including discontinued operations HY 2025
• Lagaay Medical Group, representing the Health segment, was sold early Q2for US$ 45.9 M and is classified as discontinued operations;
• Net profit, including profit from discontinued operations, amounted to € 40.7 M (HY 2024:€ 16.4 M);
• Net profit attributable to shareholders B&S Group, including profit from discontinuedoperations, amounted to € 31.3 M (HY 2024: € 13.2 M);
Highlights from Investing activities
• In HY 2025 the following minority interests' transactions took place: - Acquisition of the remaining 5% stake in B&S HTG B.V. in connection to the divested non-strategic business activity within the Liquor segment;
- Acquisition of the remaining 5% stake in Personal Care for the amount of € 12.8 M, of which € 6.4 M was paid at closing;
- We paid the second tranche of the 24% stake in Personal Care acquired in January 2024 which payment amounted to € 23.5 M;
• We divested 100% in Lagaay Medical Group, known as the Health segment, (in which B&S had a 70% interest) for the amount of US$ 45.9 M (US$ 32.4 M in cash, and US$ 13.5 M in a deferred payment);
• On balance our overall investing cash flow amounted to € 7.1 M (HY 2024: € 38.5 M).
Highlights Q2 2025 (compared to Q2 2024)
• Overall turnover from continuing operations increased by 3.4% from € 558.1 M to € 577.2 M (5.0% on a constant currency basis).
Intended recommended voluntary Public Offer
• B&S received confirmation from Sarabel (including its relevant affiliates) that Sarabel (including its relevant affiliates) expects to formally launch the previously publicly announced intended recommended voluntary public offer for all issued and outstanding shares in B&S Group during August 2025.
Message from the Executive Board
In the first half year turnover developments in Beauty (+12%), Food (+8%) and Personal Care (+11%) showed continued strong performance. Turnover Liquor (-/-11%) was marked by the divestment of its non-strategic business. Normalised turnover in the Liquor segment grew with 5.5%. Travel Retail topline performance (-/-8%) was impacted by strategic closure of some store locations.
The first half of 2025 has been impacted by continued trade policy uncertainty, with evolving tariff structures and trade relationships impacting global commerce patterns. As a company operating across international markets, we have experienced both challenges and opportunities arising from these shifting trade dynamics.
During the first half of 2025, we have strengthened our inventory turnover metrics and further improved our focus on strong supplier relationships. Improved working capital analytics also enabled more proactive working capital management. These improvements have supported our ability to maintain operational flexibility while improving capital efficiency.
Looking forward, we remain focused on operational excellence while adapting to evolving global conditions. Our balance sheet and diversified operations provide a solid foundation for navigating continued global uncertainties while pursuing growth opportunities. We expect consolidated topline to grow at approximately 5% (taking out divested revenue Q2 - Q4 in 2024). We project staff cost to grow on the back of market developments. The geo-political tensions and the direct and indirect impact thereof will affect our business lines. As such we project normalized EBITDA margin from continuing operations to land at the lower half of our Financial objectives 2024-2026.
Download full press release:
https://www.bs-group-sa.com/uploads/2025-08-05-press-release-bs-group-sa-hy1-2025-results-1.pdf?_cchid=449aaad7c3cc0f859136f086a0fc1f4d
B&S Group S.A. ("B&S") a company in the consumer goods industry, today publishes its half year 2025 results ("HY 2025").
Highlights from continuing operations HY 2025
• Overall turnover increased by 4.5% to € 1,119.6 M;
• Gross profit increased by 4.2% to € 167.3 M (HY 2024: € 160.6 M), with a gross profitmargin of 14.9% (HY 2024: 15.0%);
• Personnel costs increased by 9.1% to € 88.0 M (HY 2024: € 80.7 M); staff cost grew onthe back of market conditions, investment in our workforce and increased temporary staffcost for our warehouses, especially in Q1;
• EBITDA decreased to € 47.4 M (HY 2024: € 51.0 M). EBITDA margin came in at 4.2% (HY 2024: 4.8%) mainly due to global tariff discussions, geopolitical tensions and higherstaff costs;
• Net cash from operations amounted to € 9.5 M (HY 2024: € -/-44.0 M), mainly resultingfrom working capital cash flows HY 2025 € 4.9 M, compared to HY 2024: (€ -/- 62.0 M);
• Net debt / EBITDA at June 30, 2025 stood at 3.1 (vs. 3.4 at June 30, 2024);
• Net profit from continuing operations amounted to € 14.5 M (HY 2024: € 15.8 M).
Results for HY 2025, including discontinued operations HY 2025
• Lagaay Medical Group, representing the Health segment, was sold early Q2for US$ 45.9 M and is classified as discontinued operations;
• Net profit, including profit from discontinued operations, amounted to € 40.7 M (HY 2024:€ 16.4 M);
• Net profit attributable to shareholders B&S Group, including profit from discontinuedoperations, amounted to € 31.3 M (HY 2024: € 13.2 M);
Highlights from Investing activities
• In HY 2025 the following minority interests' transactions took place: - Acquisition of the remaining 5% stake in B&S HTG B.V. in connection to the divested non-strategic business activity within the Liquor segment;
- Acquisition of the remaining 5% stake in Personal Care for the amount of € 12.8 M, of which € 6.4 M was paid at closing;
- We paid the second tranche of the 24% stake in Personal Care acquired in January 2024 which payment amounted to € 23.5 M;
• We divested 100% in Lagaay Medical Group, known as the Health segment, (in which B&S had a 70% interest) for the amount of US$ 45.9 M (US$ 32.4 M in cash, and US$ 13.5 M in a deferred payment);
• On balance our overall investing cash flow amounted to € 7.1 M (HY 2024: € 38.5 M).
Highlights Q2 2025 (compared to Q2 2024)
• Overall turnover from continuing operations increased by 3.4% from € 558.1 M to € 577.2 M (5.0% on a constant currency basis).
Intended recommended voluntary Public Offer
• B&S received confirmation from Sarabel (including its relevant affiliates) that Sarabel (including its relevant affiliates) expects to formally launch the previously publicly announced intended recommended voluntary public offer for all issued and outstanding shares in B&S Group during August 2025.
Message from the Executive Board
In the first half year turnover developments in Beauty (+12%), Food (+8%) and Personal Care (+11%) showed continued strong performance. Turnover Liquor (-/-11%) was marked by the divestment of its non-strategic business. Normalised turnover in the Liquor segment grew with 5.5%. Travel Retail topline performance (-/-8%) was impacted by strategic closure of some store locations.
The first half of 2025 has been impacted by continued trade policy uncertainty, with evolving tariff structures and trade relationships impacting global commerce patterns. As a company operating across international markets, we have experienced both challenges and opportunities arising from these shifting trade dynamics.
During the first half of 2025, we have strengthened our inventory turnover metrics and further improved our focus on strong supplier relationships. Improved working capital analytics also enabled more proactive working capital management. These improvements have supported our ability to maintain operational flexibility while improving capital efficiency.
Looking forward, we remain focused on operational excellence while adapting to evolving global conditions. Our balance sheet and diversified operations provide a solid foundation for navigating continued global uncertainties while pursuing growth opportunities. We expect consolidated topline to grow at approximately 5% (taking out divested revenue Q2 - Q4 in 2024). We project staff cost to grow on the back of market developments. The geo-political tensions and the direct and indirect impact thereof will affect our business lines. As such we project normalized EBITDA margin from continuing operations to land at the lower half of our Financial objectives 2024-2026.
Download full press release:
https://www.bs-group-sa.com/uploads/2025-08-05-press-release-bs-group-sa-hy1-2025-results-1.pdf?_cchid=449aaad7c3cc0f859136f086a0fc1f4d
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