Vending

Selecta Group boosts Q2 2023 results

Image provided by Selecta Group.

August 3, 2023

Selecta Group, the Switzerland-based route service provider of convenience services throughout Europe, improved its sales and profitability for Q2 2023 over the prior year period, according to an earnings report.

Sales rose 4% to €307.2 million ($336.53 million).

Profitability expanded across all regions and sales per machine per day rose 20.9% to a record €13.1 ($14.35).

Selecta's Foodtech installations increased 50% mainly due to food markets which reached 1,430 total points of sale, while intelligent vending solutions rose 150% to 850 total points of sale.

Selecta's partnership with Mars, the leading confectionery player in Europe, has also driven significant growth in smart vending solutions across the U.K., Belgium and Austria.

"I am pleased to share Selecta's strong results for the first half of 2023. We continue to lead the Foodtech Market, consistently meeting our clients' needs with world-class brands and outstanding service," Joe Plumeri, executive chairman, said in the press release.