Dr. Miele Cosmed Group achieved EBITDA of PLN 29.6 million in the first half of 2024, a 70% increase (+PLN 12.2 million) compared to the same period last year. An increase in the sales value of own brands, a boost in sales in the German market, new markets and a positive sales trend in the private label category resulted in the best mid-year result in the Group’s history. The company’s Management Board has consistently maintained its 2024 earnings EBITDA forecast of PLN 60 million.
Dr. Miele Cosmed Group S.A., a manufacturer of cosmetics and household chemicals (including the popular Kret and the award-winning children’s brand Bobini), has published its results for the first half of 2024 – the Capital Group achieved consolidated revenue of
PLN 236 million. This corresponds to an 11.5% year-over-year growth. It is worth noting that more than 57% of the Group’s revenue is in euro, so the increase in revenue calculated at the fixed euro exchange rate was 17.7% on a half-year basis. The positive trend in the growth of financial results has continued for 6 quarters, which shows the stability and consistency in implementing the Group’s strategy.
The capital group keeps developing strong own brands. The revenue in this category amounted to over PLN 102 million (increase by 13.4%). This was mostly achieved thanks to sales increase in the German market, where the brand’s product sales tripled, and export sales, which achieved a 49% growth compared to H1 2023.
A strategic element of the company’s development is the expansion into new markets; the total increase in export sales was +15.8% for the first half of the year. During this period, the portfolio of countries to which products are delivered has expanded to include not only several European countries, but also Asian destinations such as Taiwan and Malaysia, as well as African countries: Tunisia and Egypt.
A continuing strong and stable source of revenue is production and sales in the private label category. With cosmetics and household chemicals developed for Europe’s largest retailers and drugstores, the revenue in this category increased by 10.6% year-on-year.
‘Our ambition is not only to keep our promise to investors – 60 million zlotys of EBITDA at the end of the year – but also to continuously increase our consumers’ satisfaction with our brands. The pride of our Team is the increase in sales of our brands’ products, but also the recognition they get; we are particularly happy with the distinctions and “Złoty Paragon” [Golden Receipt] awards for Kret, Bobini and Sofin brands received this year. We are also committed to carry out our activities in accordance with the principles of sustainable development. This is confirmed by the high score in this year’s “ESG Ranking. Responsible Management” and receiving Polityka’s “White Leaf” award – proof of the company’s commitment to responsible management of environmental, social and corporate governance issues,’ concluded Magdalena Miele, CEO of Dr. Miele Cosmed Group S.A.