Tipiak’s 2023 annual results – a year full of challenges

Tipiak published its financial results for 2023, showing a drop in net turnover to 225.4 million euros, a decline of 5.8% compared to the previous year. The Dry sector saw its sales increase by 2.1%, while the Cold sector suffered a significant drop of 10.2% in turnover and 13.9% in volume. Their own-brand products saw an overall decrease of 8.4%.

Operating and net results experienced a sharp fall, with Gross Operating Surplus down by 9.1 million euros and a negative Net Profit of 10.4 million euros. This decline is explained by consumption impacted by inflation in France and by the loss of a major international customer for the Cold sector. Non-current charges also weighed on the company's finances.

Tipiak plans to strengthen its market share and support growth in 2024, despite the uncertainties linked to the economic and geopolitical context. Furthermore, the company confirms the planned sale of the majority of its shares to Terrena, pending approval from the Competition Authority.