Treatt PLC
LSE:TET

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Treatt PLC Logo
Treatt PLC
LSE:TET
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Price: 207.5 GBX 0.48% Market Closed
Market Cap: 122.3m GBX

Treatt PLC
Investor Relations

Treatt Plc engages in the manufacture of ingredient solutions for the flavour, fragrance, beverage, and consumer product industries. The company is headquartered in Bury St Edmunds, Suffolk and currently employs 423 full-time employees. The firm has manufacturing facilities in the United States, United Kingdom and China. The firm's geographical segments include United Kingdom, Rest of Europe, The Americas and Rest of the World. The firm has a range of products in various categories, which include citrus, coffee, tea, health and wellness ingredients, as well as fruit and vegetable extracts, herbs, spices and floral ingredients and synthetic aroma ingredients. The firm offers everything from natural products to tailor-made blends and price-stable synthetics. The firm's subsidiaries include R C Treatt & Co Limited, Treatt USA Inc and Treatt Trading (Shanghai) Company Limited.

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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
May 9, 2023
AI Summary
Q2 2023

Record Sales: Treatt posted record first-half sales of £76 million, up 14.6% year-on-year, driven by strong performance in value-added citrus, coffee, and China.

Profitability: Adjusted profit before tax rose 15% to £7.3 million, while EBITDA improved by nearly 30% compared to last year.

Margin Expansion: Gross margin increased by 70 basis points to 28.2%, reflecting effective price increases and favorable product mix.

Cash & Debt: Strong cash generation led to a reduction in net debt by £4.7 million to £17.7 million, with further declines to £12–14 million expected by year-end.

Cost Discipline: Headcount was reduced by 7% and a revised currency hedging strategy was implemented; admin expenses grew modestly due to depreciation and inflation.

Outlook: Management expects full-year profit to be in line with market expectations and sees positive momentum from the U.S. FMCG, citrus, China, and coffee segments.

Volume vs. Price: 2023 growth is primarily price-driven; management expects a return to volume-led growth in 2024.

China & Coffee: Significant growth in China with direct sales to major beverage brands, while premium cold brew coffee sales are expanding, especially in the U.S. and U.K.

Key Financials
Revenue
£76 million
Revenue (constant currency)
8.5% ahead
Adjusted Profit Before Tax
£7.3 million
Gross Margin
28.2%
EBITDA
improved by almost 30% in the period
Net Debt
£17.7 million
Interim Dividend per Share
2.55p
Headcount
395
Coffee Sales
£2 million
Earnings Call Recording
Other Earnings Calls
2023

Management

Mr. Ryan Govender
MD of Europe, CFO & Executive Director
No Bio Available
Dr. David James Johnston
VP of Innovation & Design and Non-Executive Director
No Bio Available
Mr. David Shannon
Group CEO & Director
No Bio Available
Mr. Babette Norman
Vice President of Operations
No Bio Available
Helen Pizzie
Global Technology Officer
No Bio Available
Dr. Wolfgang Tosch
Chief Technical & Scientific Officer
No Bio Available
Mr. Gavin Patrick
Global Vice President of Sales
No Bio Available
Ms. Joanna Mapston
Interim Chief People Officer
No Bio Available
Melanie Cooksey Stott
Chief Supply Chain Officer
No Bio Available
Angie Williams
Head of Acceleration
No Bio Available

Contacts

Address
SUFFOLK
Bury St Edmunds
Skyliner Way
Contacts
+441284702500.0
www.treatt.com