Vinpai Announces 41% Sequential Revenue Growth in Q1 2024
25 Abril 2024 - 12:30AM
Business Wire
- Revenue up 41% compared with Q4 2023 and 6%
year-on-year
- The Company reaches the €1 million monthly revenue threshold
for the 1st time in March
Regulatory News:
Vinpai (ISIN: FR001400AXT1; ticker: ALVIN), the
specialist in the design, manufacture and marketing of functional
ingredients based on algae and plants for the food and cosmetics
industry, today announces its revenue for the first quarter of
2024.
Webinar (in French) for shareholders on April
25 at 6:00 pm: Click here
Philippe Le Ray, Chief Executive Officer, and Co-founder
stated: “Vinpai's performance over the first three months of 2024
is very encouraging, particularly in the last month of the period,
when we exceeded the million euro sales threshold for the first
time. We now have an industrial tool that enables us to meet the
customer demand more quickly, and to sell off our backlog more
rapidly particularly internationally. In addition, we have a more
structured sales force and a growing portfolio of product
innovations. We are therefore confident in our ability to pursue
sustained growth over the coming quarters and profitable growth
over the next few years.”
2024 first quarter activity
Sales - in €k
Q1 2024
Q1 2023
Change in %
1st quarter
2,552
2,400
+6.0%
First-quarter 2024 sales totaled €2,552k, up 6% on the
comparable period of financial year 2023. Growth remains strong
despite an unfavorable base effect, as Q1 2023 benefited from the
recognition of sales generated in the previous quarter. Compared
with Q4 2023, sales were up 41%, reflecting the acceleration in
business momentum. This was mainly due to the commissioning in
January of the new line at the Saint-Dolay industrial site,
bringing production capacity to over 400 tons per month. As a
result, and taking into account the time needed to fully master
this new line, monthly sales rose gradually over the quarter,
reaching €1 million in March 2024.
Quarterly growth was driven in particular by higher volumes with
recurrent customers and the start-up of new customers, notably in
India where Vinpai has recently established, as well as the first
orders delivered in recently opened geographic areas such as
Brazil, Chile, and Peru.
Sales activity has remained strong, with a backlog of over €5
million at March 31, compared with €4.4 million last year, up
14%.
Outlook
Over the coming months, the Company intends to capitalize on its
new production equipment to ramp-up its backlog and maintain
monthly sales of around one million euros.
In the medium term, Vinpai intends to pursue innovation to fuel
high growth, which will be supported by a production base that is
now at scale. The new products currently being launched or studied
are part of the search by both Food and Cosmetics manufacturers for
solutions capable of replacing “chemical additives”. Vinpai aims at
accompanying its customers in improving the nutritional properties
and Nutriscore of their products.
To illustrate this point, three new products are entering or
will enter the market over the next six months, and will fuel the
Group's development over the coming semesters:
- “Vin'Curd+”, a natural solution derived from the “Vin'FibrAlg”
range dedicated to enhancing cheese-making productivity, i.e. the
number of kilos of cheese produced for the same quantity of milk.
Vinpai has recently obtained a patent1 for this solution. The
Company recorded initial sales in the first quarter of 2024;
- “ULTRATEX CARE", a revolutionary solution for ‘decarbonizing’
cosmetics production by eliminating energy, i.e. by cold
texturizing and stabilizing. This solution is designed for
cosmetics manufacturers to produce cold galenics such as creams and
serums. This innovation was recently launched at the In Cosmétics
trade show, and is due to go on sale during the second quarter of
2024; as well as
- “Vin'UV Protect”, a new generation of non-nanoparticulate
mineral sunscreen, a major innovation for the cosmetics industry
specialized in sun protection, with patented technology. The
development of this highly innovative ingredient is currently being
finalized. The market launch is scheduled for the second half of
2024.
With these elements in place, the Company confirms its
objectives for 2025, targeting sales of €16 million and EBITDA rate
over 10%.
Next financial announcement: 2024 Half-Year Sales, on
July 16, 2024, after market close
About Vinpai
Founded in 2011 by Cyrille Damany and Philippe Le Ray, Vinpai is
an ingredien'tech company specializing in the design, manufacture
and marketing of algal, vegetable, mineral and fiber-based
functional ingredients offering manufacturers natural alternatives
to chemical additives. Positioned in the most buoyant market
segments, Vinpai now supports manufacturers in the food industry,
its historical market, cosmetics and nutraceuticals, thanks to
cross-technology know-how, enabling them to increase the
nutritional qualities of their finished products. The combination
and association of ingredients and food additives allows
manufacturers to accelerate their development, optimize their
production costs and generate profitability. Operating from two
sites, in Saint-Dolay and Rieux (Morbihan) near the port of
Saint-Nazaire, Vinpai has developed more than 3,500 formulas and
now has 47 employees. In 2023, the Company generated revenues of
nearly €8 million, more than half of which was exported, and is
established in more than 35 countries.
For further information: www.vinpai.com
_________________________________ 1 Patent registered with INPI
on 22/12/2023 under number R40739FR
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240424504725/en/
Vinpai Philippe Le Ray CEO investors@vinpai.com
NewCap Théo Martin Aurélie Manavarere Investor Relations
vinpai@newcap.eu T. : 01 44 71 94 94 NewCap Nicolas Mérigeau
Antoine Pacquier Media Relations vinpai@newcap.eu T. : 01 44 71 94
98
Vinpai (EU:ALVIN)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Vinpai (EU:ALVIN)
Gráfica de Acción Histórica
De May 2023 a May 2024