Interim dividend set at €0.40 per share
ROTTERDAM (NL), 23 JULY 2024
Today, ACOMO N.V. (Acomo), the Euronext Amsterdam-listed diversified, plant-based food ingredients Group, reports
H1 2024 results with sales of €668 million (equal to H1 2023) and an EBITDA of €41.2 million (H1 2023: €45.3 million).
The Spices and Nuts segment performed very strongly across the board with an EBITDA growth of +20%. As already
announced in the Group strategy update in April 2024 the extreme cocoa market price developments materially
impacted the performance of the Organic Ingredients segment in H1. Edible Seeds saw lower results in North America
due to a lower demand for bird feed and reduced export sales to Europe, whereas Tea and Food Solutions results were
similar to H1 2023.
Working capital slightly increased versus 31 December 2023 and the balance sheet position remains strong with a
solvency ratio of 53.7%.
The company set the interim dividend at € 0.40 per share in line with last year.
Highlights:
• EBITDA of €41.2 million versus €45.3 in H1 2023.
• Net Profit of €17.8 million versus €22.0 million in H1 2023.
• Spices & Nuts achieved a record first half year with strong sales; margins and EBITDA at double-digit
growth versus H1 2023.
• Unpredictable and volatile cocoa market prices negatively impacted results of the Organic Ingredients
segment as previously announced.
• Edible Seeds performance impacted by warm winter in North America and lower export sales from
North America to Europe.
• Agreement reached on the acquisition of the Caldic nuts and dried fruits business in the Nordics.
• New Group CFO will start as per 1 October 2024 and new Tradin Organic CEO will start as per
1 September 2024.
(in € millions) H1 2024 H1 2023 Change vs H1
2023
Sales 668.2 668.0 0%
EBITDA 41.2 45.3 -9%
EBIT 32.7 36.4 -10%
Net Profit 17.8 22.0 -19%
Operating Cash Flow (9.7) 54.2 -118%
‘I am very happy with the continued excellent performance of our Spices and Nuts businesses. The performance in this
segment is strong across the board, showing the solid foundation this segment is built upon and the excellence of our
teams. Therefore I am pleased that we signed the agreement with Caldic on the acquisition of their nuts and dried fruits
business in the Nordics. This acquisition will enable further growth of our business through portfolio and geographic
expansion. Again, our Organic Ingredients segment was heavily impacted by the cocoa market developments. Although 2023
already showed a sharp increase in market prices, this development became even more extreme in H1 2024. Despite the
dedication of our people and all measures taken, the impact of the sharp price increase could not be eliminated. Cocoa
market prices remain very volatile, although prices have lately eased somewhat. The cocoa market outlook for H2 2024
remains uncertain, but we may see some improvement in the second half of the year. I am excited that we will fill two key

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https://www.acomo.nl/acomo-reports-ebitda-of-e41-million-for-h1-2024-supported-by-double-digit-growth-in-spices-and-nuts-however-cocoa-market-circumstances-continued-to-negatively-impact-group-results/