Tipiak thinks it can maintain its results in 2022

( — The consolidated net sales of Tipiak in the 1st half of 2022 amounted to 100.1 million euros, up +14% compared to 2021.

The gross margin increased by 5.5 ME compared to the 1st half of 2021. The gross margin rate stood at 62.9%, down 2.6 points compared to 2021.

Operating profit was -0.8 ME, down 1 ME compared to the first half of 2021 (0.2 ME).

Insignificant in the 1st half due to the strong seasonality of the activity, the consolidated net income for the 1st half of 2022 amounted to -1.3 ME, down by 0.8 ME compared to 2021 (-0.5 ME ).

In addition, during the period, the group committed €6.4 million to the industrial investment program planned for 2022 (€18.3 million), mainly relating to the acquisition of new packaging lines, the improvement productivity and the development of information systems.
Between 2019 and 2021, the Group had set up structured financing of 140 ME contracted with a banking pool made up of the 6 current banks. During the first half of 2022, the Group did not mobilize a tranche of the CAPEX loan.
As of June 30, 2022, overall net debt stood at €64.1 million (€62.2 million as of December 31, 2021). Net debt increased by 6.3 ME compared to June 30, 2021. Average debt for the 1st half of 2022 increased by 6.1 ME compared to the 1st half of 2021, with an operating working capital requirement up €9.3 million with the increase in inventories of raw materials and finished products built up due to pressure on raw materials and energy.

The main risks identified are those related to the repercussions of the invasion of Ukraine by Russia: significant repercussions on the raw materials market as well as on the availability and cost of energy supply. Staff recruitment difficulties also represent a risk.


Tipiak believes that it is able to maintain its economic results compared to those achieved the previous year thanks to all the action plans and associated resources implemented.

However, it is difficult to predict all the impacts of the energy crisis and tensions on the raw materials markets on the Group’s results. In this uncertain context, the Group is implementing action plans and the means that should allow it to best preserve its commercial positions, the employment of its employees as well as its economic results and its financial equilibrium.

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