B&S Group SA
AEX:BSGR
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B&S Group SA
B&S Group SA is a holding company, which engages in the provision of essential distribution and marketing services. The company employs 1,714 full-time employees The company went IPO on 2018-03-23. The firm acts as a source supplier to a number of channels and specialized markets. B& Group SA operates within three segments: The HTG Segment, which purchases products in bulk on an ad hoc basis from manufacturers, wholesalers, distributors and international retail chains, as well as provides suppliers the opportunity to dispose of stock lots, closeout products and excess inventory; the B&S segment, which includes the purchase of consumer goods directly from premium brand owners and informs customers regarding strict food safety guidelines or specific cultural and national preferences and requirements, and the Retail Segment, which sources a focused selection of travel electronics from various partnerships and offers a selected assortment of the product groups sourced within the distribution activities in HTG and B&S.
B&S Group SA is a holding company, which engages in the provision of essential distribution and marketing services. The company employs 1,714 full-time employees The company went IPO on 2018-03-23. The firm acts as a source supplier to a number of channels and specialized markets. B& Group SA operates within three segments: The HTG Segment, which purchases products in bulk on an ad hoc basis from manufacturers, wholesalers, distributors and international retail chains, as well as provides suppliers the opportunity to dispose of stock lots, closeout products and excess inventory; the B&S segment, which includes the purchase of consumer goods directly from premium brand owners and informs customers regarding strict food safety guidelines or specific cultural and national preferences and requirements, and the Retail Segment, which sources a focused selection of travel electronics from various partnerships and offers a selected assortment of the product groups sourced within the distribution activities in HTG and B&S.
Revenue Growth: B&S Group reported 4.2% turnover growth for the first half of 2024, with especially strong Q2 performance at 7.7%.
Profitability: Gross profit rose 5.2%, and the normalized EBITDA margin improved to 4.8% from 4.5% last year.
Segment Trends: Beauty, Food, Personal Care, Health, and Travel Retail segments all grew, while Liquors declined but showed signs of stabilization in Q2.
Inventory Investment: Significant investment in inventory contributed to an increase in net debt, particularly in Personal Care and Food.
Cash Flow & Debt: Net debt rose to EUR 425 million, mainly due to increased inventory and strategic investments; leverage and interest coverage ratios remain within covenants but close to limits.
Guidance Reaffirmed: Management reiterated its outlook for 5–7% top line growth and a 5–6% EBITDA margin, in line with previous guidance.
Cost Control: Operating expenses decreased, and efficiency initiatives in B2C (especially US warehouse automation) are starting to benefit margins and working capital.
