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Regulated information

Miko receives earn-out of 5 million euros

Miko, the Euronext Brussels listed co ee service specialist, announced today that it received an earn-out in the amount of 5 million euros on the 2021 sale of its plastics processing division.

Quoting Frans Van Tilborg, CEO of the Miko group, "In 2021, we sold our plastics processing division Miko Pac to Germany's Paccor, which was 6 times its size at that time. It was important to respond to the consolidation trend in the sector. As a small player, it was still di icult for us to compete with the mastodons. In the same context of scaling up, Paccor had already been sold to the many times larger Danish company Faerch.

When Miko Pac was sold, we stipulated on the basis of a realistic business plan that on top of the sales price we could earn an earn-out of 5 million euros each on the results of 2023, 2024 and 2025. We have now secured the first earn-out. We cannot yet pass judgment on the results of the next few years.

For further information, please contact: Frans Van Tilborg - CEO Miko Group +32 (0)499 03 70 84

ABOUT MIKO

Miko has been active in co ee service for more than 200 years. The group achieved a turnover of 289.8 million euros in 2023. Miko is an international group with its own companies in Belgium, France, the United Kingdom, the Netherlands, Germany, Denmark, Norway, Sweden, Poland, the Czech Republic, Slovakia, and Australia.

More information about Miko can be found at www.mikogroup.be

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Miko NV published this content on 27 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2024 17:36:06 UTC.