Bio Planet S.A. Reports Strong Q3 Growth and Plans Expansion Beyond the EU

Bio Planet S.A, the largest supplier of organic food in Poland, continues to strengthen its position as a leader, once again presenting impressive results. In the third quarter, Bio Planet’s revenue was 64 million PLN, 13% higher than the third quarter of 2023 when it was 57 million PLN. In recent months, the company has introduced about 400 new items from regular partners and 14 products under its own brands. According to Bio Planet, adjustments to the product range according to customer expectations, as well as projected inflation reductions, will positively affect sales in the coming months.

“We ended the third quarter with good results. Once again, we increased sales by 13% year on year, reaching a revenue of over 64 million PLN, compared to 57 million PLN in the previous year. In the third quarter, we finished paying off debts related to the purchase of fixed assets from Smak Natury Ltd., which was made in 2022. The completion of the payments to Smak Natury will contribute to a gradual improvement in the company’s liquidity, enabling more favourable purchases and a gradual improvement in the company’s profitability,” says Sylwester Strużyna, CEO of Bio Planet S.A.

After the third quarter of 2024, the net profit is 1,141 thousand PLN which is a 52% increase from the growing net profit in 2023, which was 752 thousand PLN. Revenue cumulatively totals 204.2 million PLN, 9% higher than after the third quarters of 2023, when it was 186.6 million PLN. EBITDA cumulatively is 5.0 million PLN after the third quarter of 2023, and is 6% higher than in 2022 when it was 4.7 million PLN.

“In recent months, we have been taking intensive actions that have helped us to reduce warehouse service costs. Thanks to staff reductions and new logistic solutions, in the first three quarters of 2024, the company has achieved a cumulative 52% increase in net income compared to the first three quarters of 2023. We also carried out numerous IT projects, including the launch of a new, more efficient server, which has significantly improved the functioning of the company’s basic web services,”– says the CEO of Bio Planet S.A.

Good results and an increasingly strong market position motivate further action. In the near future, the company plans to expand exports beyond EU countries. We see a significant opportunity in establishing business relationships with countries in the Middle and Far East, where the organic food market is developing very rapidly. Bio Planet already sells products in countries like Qatar and Vietnam. For the company, a strategically important goal is to complete the construction of Modern Packaging Plants with a total area of approximately 5,000 m2, which will ultimately increase processing capacity and significantly reduce the unit costs of packaging. The first stage of construction was completed in 2022. Currently, the company is raising funds necessary to complete this investment.