Key highlights year-to-date (YTD):
• Losses on cocoa futures and difficult consumer environment for Organic Ingredients negatively impacting
Group results YTD
• Other divisions in the Group are trading well with solid results
• Adjusted Gross Profit margin increased to 13.6% versus 12.9% YTD 2022
• Adjusted EBITDA of €74.6 million versus €86.9 million YTD 2022
• Strong cash flow generation of €126.3 versus €62.7 YTD 2022
• Full Year 2023 forecasted adjusted EBITDA in range of €87 million to €92 million
Our Organic Ingredients segment (Tradin Organic) was impacted by several challenges this year, as outlined in the H1
2023 results. In addition to the reported atypical losses incurred on cocoa hedging contracts due to record cocoa
prices, the difficult consumer environment has also contributed to a lower performance. Tradin’s management and
employees, supported by the Acomo Board, are fully focused on addressing the challenges in this segment, as shown
by improving trends in recent trading.
The segments Spices & Nuts, Edible Seeds, and Food Solutions continued their strong and increased performance for
the first four months of H2 2023. Margins in these segments improved further versus the first six months (H1-2023).
The Tea segment reports results below prior year due to lower volumes.
The financial position of the company per 31 October 2023 is strong, with a balance sheet solvency ratio of 51%, and
a reduction of total borrowings versus 31 December 2022 (-16%) due to strong operational cash flow.
The Acomo board expects the full Fiscal Year 2023 (FY23) adjusted EBITDA to range between €87 million and €92
million (FY22: €108 million). The full year results will be officially announced on 20 February 2024.

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