Unibel

UNBL

Equity

ISIN FR0000054215 / Valor 503005

Euronext - Euronext Paris (2025-06-24)

EUR 1,180.00%

Unibel
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About company

Unibel, operating under the Bel Group, is a distinguished entity in the global food industry, with a rich heritage spanning over 150 years. As a family-owned company, it has carved a niche for itself by specializing in dairy, fruit, and plant-based products, with a particular emphasis on branded cheeses, where it stands as one of the world leaders. The company's portfolio showcases a variety of internationally recognized brands such as The Laughing Cow®, Kiri®, Babybel®, Boursin®, Nurishh®, Pom’Potes®, and GoGo squeeZ®, alongside approximately 30 local brands. These brands collectively contribute to the Group's significant sales figure, which reached €3,645 million in 2023. Unibel's corporate mission is centered around offering healthier and more sustainable food options, reflecting its commitment to both quality and environmental consciousness in its business practices.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Sales

Consolidated sales: €1,789.6m in H1‑2023. Organic growth +9.1% vs H1‑2022 (reported +6.3% after scope and FX effects). Strong contributors: China (double‑digit growth), fruit segment (Pom’Potes/GoGo squeeZ/Materne/Mont‑Blanc) and core brands such as Kiri®, Boursin® and Babybel® in key markets.

Profitability

Recurring operating income rose to €114.9m (after equity affiliates) and reported operating income to €107.7m (H1‑2022: €68.6m). Improvements reflect price increases, productivity measures and a favorable comparison base. Group‑share net profit was €54.8m (vs €34.0m).

Cash, liquidity and debt

Cash and equivalents €435.4m (net cash & equivalents ~€427.3m). Net financial debt (including lease liabilities) €917.5m at June 30, 2023 (vs €778.1m at Dec 31, 2022); confirmed liquidity: €427m surplus cash cited and €550m undrawn credit lines maturing in 2027. Financial leverage and covenant ratios were within limits (leverage ~2.41 at June 30, 2023).

Geography & segment highlights

China: continued strong momentum (Kiri® a key driver). Europe: held up thanks to price increases and Babybel performance (UK). North America: growth driven by Boursin® (including Boursin® Plant‑Based). Middle East & Greater Africa: sharp year‑on‑year recovery on an organic basis (reported decline due to disposal of Safilait).

Inflation, costs and volumes

Across‑the‑board inflation (energy, labor) continued to pressure costs and contributed to some volume declines in certain regions. Management actions (targeted price increases, productivity and cost control) helped recover margins despite higher input costs.

Balance sheet & other items

Equity €1,571.5m at June 30, 2023. Capex in H1 ~€88.0m. Net cash flow from operations was weak H1 (€29.4m) after working capital absorption and tax payments; investing cash flow negative due to capex and M&A effects. No significant subsequent events reported.

Outlook

Unibel (Bel Group) sees H2 2023 as an environment of vigilance and caution amid volatile geopolitics and high inflation but expects to continue strengthening positions across dairy, fruit and plant‑based segments, supported by brand investment and disciplined pricing/productivity measures.

Summarized from source with an LLMView Source

Key figures

38.0%1Y

13.5%3Y

96.7%5Y

Performance

32.8%1Y

41.2%3Y

46.6%5Y

Volatility