Groupe Berkem Announces 2022 Revenue of €51.8 Million, up 12.4%

  • Strengthening of the Group in 2022 in its four markets "Construction & Materials", "Hygiene & Protection", "Health, Beauty & Nutrition", "Industry" in France and internationally

BLANQUEFORT, France, January 31, 2023--(BUSINESS WIRE)--Regulatory News:

Groupe Berkem, a leading player in bio-based chemistry (ISIN code: FR00140069V2 - Ticker: ALKEM) (Paris:ALKEM), today announced its consolidated revenue for the year to December 31, 2022.

Olivier FAHY, Chairman and Chief Executive Officer of the Groupe Berkem, stated: "Despite the 2022 financial year being marked by an inflationary context and persistent geopolitical tensions, Groupe Berkem managed to stay on course and continue its growth dynamic, on track to achieve its 2024 objectives. This was made possible by strategic investments, in particular in Lixol, which recorded a good performance over the entire period. In addition, in the fourth quarter, we strengthened our international coverage by joining forces with the Barentz group, which now distributes our ingredients in North America as well as in Germany, Austria and German-speaking Switzerland. We also continue to be very active in launching new sustainable solutions to accelerate the ecological transition of our customers, such as our new product Ki'Leaft®. In 2023, we intend to strengthen our growth and will remain attentive to external growth opportunities that may arise."

Revenue in € millions




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Full-Year Revenue




2022 Fourth-Quarter Revenue

The Group's business recorded revenue of €12.5 million in the fourth-quarter of 2022, representing an increase of +26.3% compared to the same period in 2021.

During this quarter, the Plant Extraction division grew by 40.1% compared to the same period in 2021, achieving revenue of €4.3 million. The Berkem business, dedicated to the development of vegetable extracts, contributed to this good dynamic with growth of 46.4% over the period compared to the fourth-quarter of 2021, achieving revenue of €3.9 million. Revenue generated by the Eurolyo subsidiary, which is specialized in freeze-drying, fell by 3% to €0.4 million. The Formulation division's revenue reached €8.2 million in the fourth-quarter of 2022, representing growth of 20.1% compared to the fourth-quarter of 2021. Over the same period, the Lixol subsidiary, expert on the alkyd resin market, saw a strong increase in revenue of 120.3%, reaching €2.1 million, compared to the fourth-quarter of 2021. Revenue generated by Adkalis, producing protection solutions for timber, increased by 3.8% to €6.1 million.

2022 Full-Year Revenue

As at December 31, 2022, Groupe Berkem's full-year revenue reached €51.8 million, up 12.4% compared to the 2021 financial year.

Over the year, the Plant Extraction division contributed 30.9% of revenue to December 31, 2022, or €16 million. Berkem's business stands at €14.6 million, up 12.1% compared to the same period in 2021. The Eurolyo subsidiary's business decreased by 7.6% to €1.4 million compared to €1.5 million in 2021. The revenue of the Formulation division amounted to €35.8 million, representing 69.1% of the Group's total revenues in 2022. The Formulation division posted an increase of 13.5% compared to 2021, thanks in particular to the performance of the subsidiary Lixol, whose revenues grew by 55.7% compared to 2021 to reach € 9.2 million.

At December 31, the Group held 189 marketing approvals and a further 73 applications are currently under review.

Cash position as at December 31, 2022

On 26 July 2022, the Company strengthened its financial structure with a €70 million financing package, including €63.5 million in senior debt with a pool of 6 French banks and €6.5 million in Recovery Bonds. These financial resources provide the Group with greater means to carry out external growth operations. To date, the Group has activated a €21.5 million funding line through this facility.

At December 31, 2022, Groupe Berkem held a net cash position of €10.7 million.

2022 Fourth-quarter highlights

In October 2022, Groupe Berkem announced an exclusive partnership in North America - effective November 1st, 2022 – with Barentz, for the distribution of the Group's sustainable ingredients in the "Health, Beauty & Nutrition" market. This exclusive collaboration was extended in November 2022, with Barentz also becoming the exclusive distributor of Groupe Berkem's sustainable ingredients in Germany, Austria and German-speaking Switzerland.

In November 2022, the Group announced the launch of a new active ingredient, Ki'Leaft®, on the "Health, Beauty & Nutrition" market. It is a 100% natural, upcycled1, COSMOS-certified kiwi leaf extract and produced locally, near Groupe Berkem's extraction plant in Dordogne (France).


The Group confirms its ambition to achieve revenue of at least €65 million by 2024, which could be increased to at least €85 million in the event of external growth. By the same date, the Group's objective is to achieve an EBITDA margin of around 25%.

Next financial publications:

  • 2022 Full-Year Results and 2023 First-Quarter Revenue: April 27, 2023 (after market close)

  • Annual General Meeting: June 13, 2023


Founded in 1993 by Olivier Fahy, Chairman and Chief Executive Officer, Groupe Berkem is a leading force in the bio-based chemicals market. Its mission is to advance the environmental transition of companies producing the chemicals used in everyday lives (Construction & Materials, Health, Beauty & Nutrition, Hygiene & Protection, and Industry). By harnessing its expertise in both plant extraction and innovative formulations, Groupe Berkem has developed bio-based boosters—unique high-quality bio-based solutions augmenting the performance of synthetic molecules. Groupe Berkem achieved revenue of €46 million and an EBITDA margin close to 20% in 2021. The Group has almost 170 employees working at its head office (Blanquefort, Gironde) and three production facilities in Gardonne (Dordogne), La Teste-de-Buch (Gironde), and Chartres (Eure-et-Loir).

Groupe Berkem has been listed on Euronext Growth Paris since December 2021 (ISIN: FR00140069V2 – ALKEM).

1 Upcycling*: the recycling of a product to give it a second life with higher added value.

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Groupe Berkem
Olivier Fahy, Chief Executive Officer
Anthony Labrugnas, Chief Financial Officer
Tel.: +33 (0)5 64 31 06 60

Investor Relations
Mathilde Bohin / Nicolas Fossiez
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Media Relations
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