Blackburn / UK. (biegg) British EG Group published its trading update for the third quarter of 2023, representing the three months to September 30, at the end of November 2023. The company completed the sale of EG UK operations to Asda, bringing total debt repayment in 2023 to approximately four billion USD, significantly reducing the Group’s net leverage and strengthening its platform for international growth and the energy transition. EG successfully executed the refinancing of all 2025 maturities: completed the Amend + Extend of Term Loans, issued new Senior Secured Notes, secured Privately Placed Notes and agreed a new Bridging Facility to repay existing debt. In Q3-2023 EG reported growth across Foodservice, and Grocery + Merchandise, reaffirming its diversified earnings strategy – against a strong comparative quarter for fuel in 2022. EG also signed a Strategic deal with Tesla for EVpoint – EG’s proprietary branded ultra-fast charging point proposition – which further supports the Group’s transition to Net Zero. For additional information please read the company’s PDF file below (149 KB):
20240219-EG-GROUP-Q32023.OTHER TOPICS FROM THIS SECTION FOR YOU:
- LG Chem and ADM: Joint Ventures in Illinois are canceled
- Wendy’s: Company plans to expand into Europe
- Delivery Hero: may face significant fine due to antitrust violations
- Emmi Group: intends to acquire Mademoiselle Desserts
- AB Foods: announces strong H1-2024 performance
- DSM-Firmenich: Queen Maxima inaugurates new dual head office
- RBI: Announces Investments to Drive Growth in China
- Europastry S.A.: puts its IPO process on hold
- McCormick: Reports Second Quarter Performance
- Reborn Coffee: Closes Master License Agreement for UAE
- General Mills: Reports Fiscal 2024 Fourth-Quarter Results
- SunOpta expands plant for processing plant-based beverages
- Britannia: Operating profit grew 10 percent in FY-2023
- Tate + Lyle and CP Kelco to merge to leading global player
- Ülker Bisküvi: announces Q1-2024 financial results
- Europastry: intends to go public on the Spanish stock exchange
- Europastry S.A.: publishes 2023 Annual Report
- Swisslog: announces new Americas region headquarters
- Reborn Coffee: Expanding Omni-Channel Strategy
- Mondelez International and Lotus Bakeries Join Forces