Dr. Miele Cosmed Group S.A.: Record Annual Results

Dr. Miele Cosmed Group S.A.: Record Annual Results

13.05.2024

The Dr. Miele Cosmed Group reports its best ever financial results in its financial statements for 2023. Revenue of PLN 444 million and EBITDA of PLN 45 million provide a solid basis for growth in the coming years.

On 26th April, the Board of Directors of Dr. Miele Cosmed Group S.A. presented information on the audited results of the Group for the year 2023. The achieved EBITDA of PLN 45.0 million for the whole year 2023 is a record result in the history of the Group. The increase in value by PLN 32.2 million or 255% compared to 2022 underlines the extent of the improvement in performance.

EBIT is even more dynamic, rising from PLN 1.3 million in 2022 to over PLN 33 million in 2023. At the same time, the company reports revenue growth of more than 12% year-on-year to PLN 444 million in 2023.

The company indicates a clear trend of steady growth, which shareholders can observe in the company's subsequent current reports. The predictable growth trend is confirmed by the financial results of the last few quarters.

"The financial results presented in the 2023 report are the best in the company's history. Despite objective market factors: rampant inflation, an increase in operating costs beyond our control, further turbulence in the raw materials market, including their availability, we have achieved our goals and plans. This is the result of the determination and consistent implementation of the strategy of recent years and confirms the Group's organisational readiness to take the next steps in our development," says Magdalena Miele, the Company's CEO, in her letter to shareholders at the beginning of the financial report.

Alongside the financial report, the Dr. Miele Cosmed Group Sustainability Statement 2023 was published. It is the first report issued in accordance with both the Global Reporting Initiative standard and the European Sustainability Reporting Standards (ESRS). As part of the initial assurance work to prepare the Company and the Group for full reporting next year in accordance with the requirements of the CSRD, the following areas were independently verified: compliance with the taxonomy, including compliance with the minimum assurances, compliance of the general disclosures with ESRS 2, the ESRS S1, ESRS S4 indicators reported and the measurement of the carbon footprint in scope 1 and 2.