Vending
Selecta Group boosts Q1 sales, earnings despite continued pandemic impact
May 11, 2022
Selecta Group, a Sweden based route service provider of convenience services in Europe, lifted sales by 16.7% to €276.6 million ($291.03 million) in Q1 2022 compared to the prior year period in a quarter still impacted by the pandemic, according to a press release.
Earnings before interest, taxes and depreciation increased by 36% to €46.1 million ($48.49 million) in the comparative quarters, while margin reached 16.7%, marking a 2.3% gain over the prior period, driven by pricing initiatives and cost savings.
In Q1 2022, Selecta announced collaborations with Mars Wrigley and Red Bull, while also successfully winning new business with a supermarket giant in the U.K., Trafikverket, the Swedish Government Transport Administration and a major player in concession in France.
"We continue to focus on delivering against our One Selecta vision and strategy — delivering innovative solutions that address the needs of our clients and offering world-class service enabled through technology. Our launch of the Foodies Shop & Go this quarter is a prime example as we bring our consumers healthy, delicious food in a modern, hassle-free and automated environment," Joe Plumeri, executive chairman, said in the press release.
For an update on how the pandemic has affected convenience services, click here.
