(AOF) – Groupe Berkem, specialist in plant chemistry, announces a net profit group share of 404 million euros in the first half of 2023, “an increase of 78% compared to the first half of 202” for a figure of business to 27.9 million euros in the first half, “of which 26% was generated internationally” and an EBITDA margin of 10.4%, “impacted by a generalized inflationary environment”. As of September 30, 2023, Groupe Berkem’s turnover for the first nine months of 2023 reached 39.9 million euros, compared to 39.8 million in the 3rd quarter of 2022, or +0.4%.
“The half-year results that we are publishing today mark the important structuring phase that our Group is experiencing in a still tense economic environment,” declares CEO Olivier Fahy. “However, the drop in volumes was offset by an increase in prices, allowing the Group to return to its pre-crisis gross margin level.” “2023 therefore promises to be a transitional year for our Group and, if the current context forces us to postpone our financial objectives, our current achievements make us confident in our ability to achieve them in 2025.”
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Nothing is going well for German chemistry
German chemicals, very dependent on Russian gas, are in difficulty. Following sluggish sales in the automotive sector and falling demand in construction, production is down 8.5% in 2022, with overall turnover down 1.6% to 63.1 Billions of Euro’s. Specialty chemistry is doing better. On the other hand, the rate of utilization of production capacities in basic chemicals has slowed significantly to reach less than 80%. The third German industrial sector is tempted by relocation to the United States, where energy costs are much lower. With the Inflation Reduction Act, the United States has established an environment appropriate to current challenges.