Page 12 - flipbook-ubp-IR

ABOUT US
CHAIRMAN’S MESSAGE
AN OPTIMISTIC PERSPECTIVE
MANAGEMENT APPROACH
I would also like to express my gratitude to the talented and experienced teams across UBP, led by Stéphane Ulcoq, for going above and beyond their line of duty. None of the milestones we have reached could have been achieved without each one of you.
I am proud to be taking the legacy of UBP Group into an ebullient era filled with opportunities, and I am confident in our ability to rise up to the challenges ahead and reach new heights of success.
Jean-Claude Béga
Chairman
Against this backdrop, the Group posted revenues of Rs 4 billion, a 22.4% increase over the previous year. Much of this was contributed by Premix’s acquisition and the excellent performance of Espace Maison, which generated record profits during the year. Our Group operating profit decreased from Rs 308.6 million to Rs 215.7 million, due to the significant increase in our core business production costs, one-off transition expenses for the takeover of Premix, and the due diligence costs related to our investment decisions.
+22.4%
increase in Group Revenue over 2021
Besides these additional investments in Premix and Drymix, UBP also made the bold decision to acquire a group of companies operating in similar industries in Reunion Island. Once the conditions precedent will have been satisfied, this transaction will enable all parties involved to benefit from the cross- fertilisation of knowledge. UBP, for its part, will share its know-how to further develop the companies in Reunion, while allowing its Mauritian operations to benefit from the inflow of innovations and technologies from the teams in Reunion. The combination of Mauritian and Reunionese expertise will contribute enormously to our R&D capabilities and lead to the development of innovative products that add value both in terms of their efficiency and ecological qualities.
Good governance, environmental and human practices
This brings me to the Group’s efforts in the area of sustainability. I would like to reassure our stakeholders that sustainable development is one of the Group’s imperatives, and therefore a subject at the top of the Board’s agenda, and part of senior management’s responsibilities. The project at hand is certainly complex, but the Group is fiercely committed to being a catalyst in our industry. Efforts will be pursued to reduce our environmental footprint through the mitigation of climate-related events and through the elimination of carbon emissions. This will be central to our innovation projects.
A strong culture and team spirit are the lifeblood of the Group. Each team member is equally valuable and essential in driving us forward. It is therefore with immense sadness that we learned of the untimely departure of three colleagues, Jean Marc Selvon, Jimmy Pierre and Angelito Brelu Brelu. Their hard work and commitment over the years made them strong pillars of support for their team members, and forces to be reckoned with. On behalf of the Group, we offer their families our sincerest condolences in this difficult time.
Acknowledgments
I would like to thank my fellow Board Directors for their warm welcome to the Company, and their precious guidance in this period of transition for the Group.
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UBP INTEGRATED REPORT 2022
INTRODUCTION