Acomo (ACOMO) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue rose 14% year-over-year to €335.6 million; YTD revenue up 4% to €1,003.8 million.

• Sales and volumes increased despite price uncertainty, geopolitical unrest, and supply chain challenges.

• Spices and Nuts, Organic Ingredients, and Tea segments grew, offsetting declines in Edible Seeds and Food Solutions.

Financial highlights

• Spices and Nuts Q3 sales up 13% to €115.8 million; YTD up 9% to €345.4 million, aided by Delinuts Nordics acquisition.

• Edible Seeds Q3 sales down 5% to €59.0 million; YTD down 7% due to lower export sales and bird feed demand.

• Organic Ingredients Q3 sales up 30% to €127.2 million; YTD up 7%, driven by higher cocoa prices and strong fruit & vegetable performance.

• Tea Q3 sales up 4% to €28.9 million; YTD up 5% on positive volume in conventional tea.

• Food Solutions Q3 sales down 7% to €5.3 million; YTD down 6% due to weaker distribution business.

Outlook and guidance

• Full-year 2024 outlook remains uncertain due to global economy, supply chain disruptions, geopolitical risks, inflation, currency rates, and cocoa market volatility.

• Board expresses confidence in management's ability to deliver solid results despite uncertainties.