BioTechUSA Group grows despite market challenges
BioTechUSA Group has published its annual report: despite the economic difficulties, we have achieved stable results, although the growth rate has slowed down slightly compared to previous years. Our revenue increased to 236,77 million euros, while our EBITDA was 27,05 million euros. Last year, our Group continued to focus on efficiency improvement, technology and product development, strategic investments, and continued to expand in foreign markets, while maintaining our leading position in our domestic market.
Moderate growth in a turbulent environment
We started 2024 from a high base, after having doubled our turnover in three years between 2021 and 2023. To maintain this competitive advantage in the dietary supplements market, we needed to optimise every process from sourcing to manufacturing to distribution channels, and we also needed to invest in value-added and innovative product development. As a result of all these efforts, our B2B and B2C sales combined increased to 236,77 million euros. Although the growth rate slowed down slightly compared to previous years, this is an absolute sales record in the history of our company.
Investing in the future in challenging times
In 2024, we spent almost 16.5 million euros on investments, technological innovation and product development. The largest investment in recent years was the 14 million euros investment in the multi-layer protein bar production line, which produces 55 million complex protein bars per year, tripling our annual protein bar production capacity and launching a new premium protein bar and a new premium vitamin range. In addition to this unique European development, we have built a new shaker logo plant, continued to improve the social well-being of our colleagues and upgraded the energy efficiency of our production complexes, which will in future provide 30% of the electricity used at both sites with green solutions.
Omni-channel strategy and export activities play key role
BioTechUSA has been the market leader in Hungary for several years and has reached a stage where further significant growth depends primarily on the success of its export activities, which account for 80% of sales. Accordingly, we have continued to expand, with brands in five new countries – Egypt, Honduras, Curacao, Cambodia and Uzbekistan – and double-digit growth in the Spanish, French, Slovakian, Romanian, Israeli and Polish markets. Physical expansion also continued. Last year, 31 new stores were opened with an investment of 3.8 million euros, bringing the total number of stores in international markets to 143. Including the 185 Hungarian stores, the total number of stores is 328.
Last year, we also showed that it is possible to innovate in an established market – Spain – and that the whole world takes notice: we signed a unique global cooperation agreement with FC Barcelona, one of the world’s most famous football clubs.
On firm, stable ground in 2024
“The changed circumstances in 2024 have also shaken up the dietary supplements market. A good example of this is that we once again had to face the challenge of rising raw material prices and inflation, especially in the area of protein sourcing, but we were able to rely on our existing knowledge with confidence,” began Bálint Lévai, CEO and co-owner of our group. “Even in a period of declining growth, we remained profitable thanks to our success in overcoming obstacles through optimisation and innovation, in addition to our targeted investments. Unfortunately, the market has become much thinner with the emergence of many competitors offering both low prices and low quality, but we do not compromise on the premium nature of our products,” he added.
Bálint Lévai also pointed out that the pandemic and the war have prepared the BioTechUSA group for many things: they have made the team stronger and made the internal processes more efficient and competitive. This was necessary in an environment where rising costs could not be fully passed on to consumer prices. He cited the example that neither in Hungary, nor even in Germany or Austria; while many other EU member states have witnessed uninterrupted growth, but the Balkans have seen dynamic growth, as have our Middle Eastern markets.
2025 will be about product development and premium products
The 2025 goals are set in line with industry trends that see the continued rise of nutritional supplements, led by impulse and functional products. Plans include introducing further digital enhancements, expanding our product portfolio and exploring new market opportunities. We will launch the best ever version of our flagship product, Iso Whey Zero, and have also started to develop hydration and protein coffee products. We aim to enter a new phase of growth in 2025 with new technology investments. The long-term strategy focuses on expanding into international markets and developing innovative, sustainable products. We constantly monitor consumer demand and adapt to industry changes to remain competitive in a dynamic and evolving nutritional supplement market.
Our full Annual Report is available here.
