2023 annual results

Water Drop - Spadel Group

Spadel recorded a significant increase in its operating profit thanks to strong sales growth across all the markets where the Group is active, supported in particular by several new products performing well.


Spadel, the mineral water group, ended 2023 with consolidated net sales of 345,9 million euros, up 7,9% thanks to strong growth in sales, volumes and market share. At the same time, operating profit (EBIT) rose by a remarkable 65,2%.

Sales growth was reflected across all the Group’s markets, with increases of almost 9% in Belgium, 2% in the Netherlands, 7% in France and more than 16% in Bulgaria, enabling Spadel to gain market share and strengthen its leadership position in Belgium, Bulgaria and the Netherlands, in a bottled water market that overall is under pressure.

Sales were buoyed by the strong performance of a number of new products. These include the more environmentally friendly 5L and 10L Spa Reine Eco Pack and the 5L Wattwiller Fountain, as well as the new ‘Devin Mineral and Vitamins’ range of mineral water enriched with vitamins and microelements, recently launched on the Bulgarian market.

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