FINANCIAL HIGHLIGHTS

Key annual financial data

2023 was a year of further growth for our Group, in which we achieved record levels in absolute terms both in revenues, which increased by over 10% at constant exchange rates, and in EBITDA, despite a softer-than-expected European market. 

2023 RESULTS
a year of further growth

Consolidated revenues

2,260.1 million euros , with an increase of 10.2% at constant exchange rates and of 6.7% at current exchange rates compared to 2022. The performance was driven by an excellent, above-market organic growth of 8.0%, and, for 2.2%, by the acquisitions made mainly in France, Germany, China, and North America.

EBITDA

recurring was 541.6 million euros, an increase of 3.1% compared to 2022. The recurring EBITDA margin of 24.0% was 80 basis points lower than the record level reported in 2022 due mainly to the strong investments in specialized field personnel to support the company's future growth and lower operating leverage in EMEA due to a softer-than-expected market. 

net profit

recurring amounted to 165.8 million euros, a decrease of 9.5% compared to the 183.3 million euros recorded in 2022 after higher depreciation and amortization and an increase in financial expenses. 

 

Performance by region

Discover the performance across all the geographic regions compared to 2022.

EMEA

Americas

APAC

EMEA

EMEA

ABOVE-MARKET PERFORMANCE

In 2023, revenues for Europe, the Middle East and Africa amounted to 1,485.3 million euros, driven by organic growth (+4.0%) and bolt-on acquisitions (+1.0%) mainly in France and Germany, despite a slightly negatiove and softer-than-expected market. 

Americas

Americas

Outstanding performance

In 2023, we recorded 429.6 million euros of revenues in the Americas driven by a well-above-market organic growth (+18.5%) and bolt-on acquisitions in the United States and Canada (+6.9%), despite a strong FX headwind (-12.7%).

APAC

APAC

SOLID REVENUE performance

In APAC, revenues were 344.7 million euros in 2023, reporting an excellent revenue growth (+15.4%) driven by strong organic growth across all markets (+13.3%) and the contribution of the acquisitions made in China (+2.1%) despite the strong FX headwind (-7.7%).
More about our results by region? read our Annual Report

Our results

Here you can navigate our interactive graph.

In the table above:

  • 2018 data is presented with the application of IFRS 15 accounting principle and without the application of IFRS 16 accounting principle
  • Since 2019, data is presented with the application of IFRS 16 accounting principle
  • Since 2020, data is presented without the contribution of the Elite business that was discontinued at the end of 2021
Read also our Sustainability Report Read

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