Mensdorf, Luxembourg – May 16, 2022 (07:00 CET)

B&S Group S.A. (“B&S”) tech company in the consumer goods industry, today publishes its
trading update for the first quarter of 2022 (“Q1 2022”).

Highlights Q1 2022 (compared to Q1 2021)

Overall turnover increased by 14.6% to € 453.3 M (11.5% on a constant currency
basis), all of which was organic;
Turnover growth largely driven by Liquor segment, further aided by sales growth in Personal Care, Food and Retail segments;
Overall increased marketing and transport costs suppressed gross margin growth;
Staff costs in the first quarter increased due to labour market scarcity and increased hourly rates for warehousing staff in the US

Tako de Haan, CEO: “In the first quarter of 2022 our strategy execution was on track as we further expanded online with new B2C business models in new geographies. Our online liquor proposition TopDrinks is now available in seven European countries and our FragranceNet network completed the roll-out in the Middle East and Australia. Also we enhanced existing brand partnerships and added new brands to our portfolio that we serve with brand development, distribution and
marketing solutions. This includes brands such as Roos & Roos and Chopard.
Industry wide supply chain challenges and increased product scarcity had their impact on turnover and margin in the first quarter of 2022. This included increased transport costs as well as higher
labour costs for warehousing personnel, mainly in our US operations. In addition, marketing costs for our B2C business in the US were higher than expected due to rising digital advertising rates.
The market recovery in our duty-free, retail and travel business however is noticeable and encouraging and we foresee further recovery for these markets in the remainder of 2022.
After the first visible steps in H2 2021 towards executing our 2021 – 2023 strategy, our digital transformation and brand proposition starts to take solid form post pandemic. While the market disruptions of the past two years aided the alteration of our strategic direction, our people embraced the opportunity to develop new business models and evolve our digital capabilities and accompanying services. Our B&S Nfinity platform is now in place and connects the backbone of all our segments. This supports business synergies and is particularly relevant for the growth of our B2B and B2C platform businesses across all our segments.”
Segmental review The 2022 turnover levels exceeded 2021 levels by 14.6%, all of which originated from organic growth. The Liquors segment was the main contributor to increased turnover levels, followed by Retail, Personal care and Food. FX had a positive impact on turnover growth; at constant currency turnover increased by 11.5%.
Turnover split per segment € million (unless otherwise indicated) Q1 2022 reported Q1 2022 organic Q1 2022 acquisitive Q1 2022 FX Q1 2021 reported ? (%) reported ? (%) constant currency

see & read more on
https://www.bs-group-sa.com/uploads/2022/05/220516-Q1-2022-trading-update.pdf