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Vending: IVS numbers confirm post-Covid recovery

In the 1Q, increase in turnover (+ 16.3%) and in Adjusted Ebitda (+ 25.8%)

The consolidated turnover of the 1st quarter of Ivs Group, the Italian leader in the vending sector, amounts to Euro 92.4 million, with an increase of 16.3% compared to the Euro 79.5 million of 2021. 1% in Italy, 49.2% in France, 6.6% in Switzerland and 23.0% in the Cgu Coin Service. On the other hand, they fell by 3.0% in Spain, while France recorded an increase higher than the other markets thanks to the positive contribution of the Paris metro contract.

Reported Ebitda increased by 14.3%, equal to Euro 16.0 million, from approximately Euro 14.0 million in March 2021. Consolidated Adjusted Ebitda amounted to Euro 17.0 million, with an incidence on turnover of 18.4% (20.9% if calculated net of positioning fees), an increase of 25.8% compared to Euro 13.6 million in March 2021. Consolidated net profit in March 2022 is equal to Euro 0,02 million (with Euro 0.1 million of profits attributable to minorities), from Euro -2.2 million in 2021. Adjusted net profit, net of items considered non-recurring, is equal to Euro 0.8 million, compared to to Euro -2.5 million in March 2021. The net result was affected by non-recurring costs (and the related tax effect) for a total of approximately 0.7 million. The net financial position is negative for Euro 317.6 million (including approximately Euro 46.4 million deriving from rental and leasing contracts based on the provisions of IFRS 16), compared to Euro 301.4 million at the end of 2021 (Euro 337,7 March 2021). During the first quarter, payments of Euro 10 million were made for advances on the price agreed with the sellers of Liomatic, which still does not fall within the scope of the group.

According to the company, the current scenario, with high levels of inflation and uncertainties due to international tensions, is less impactful for the Ivs Group business than in previous Covid years. Presences in places such as universities and schools and public transport, such as railway stations, subways, airports, are in fact gradually returning to normality, and with it increasing consumption on vending machines. Activity in the manufacturing sector, which had returned to pre-Covid consumption levels at the end of 2021, slowed down in January and February 2022, but has already recovered well since March, with a growth trend that is substantially confirmed also in April.

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EFA News - European Food Agency