VM MATERIAUX (EPA:VMMA) HERIGE INDUSTRIES: FIRST-HALF 2024 TURNOVER OF EUR 215.6 MILLION
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| French GAAP – € million Turnover – non audited data |
2024[1] | 2023[2] | Change |
| 1st quarter | 107.5 | 124.2 | -13.4% |
| 2nd quarter | 108.1 | 125.2 | -13.6% |
| TOTAL | 215.6 | 249.3 | -13.5% |
| Industrial Joinery | 127.7 | 148.4 | -14.0% |
| Concrete Industry | 70.8 | 79.2 | -10.6% |
| Other | 22.2 | 26.3 | -15.8% |
| Inter-segment eliminations | (5.0) | (4.6) | - |
First-half 2024 under pressure, as expected
In line with expectations, HERIGE Industries posted turnover of €108.1 million in the second quarter of 2024, down 13.6% on the same period in 2023. This downward trend reflects both a persistently weak new construction market (31% drop in individual single?family housing starts over the last 12 months[3]) and the current political crisis in France, which has created a climate of uncertainty.
- The Industrial Joinery business was down 15.8% in second-quarter 2024, hampered in part by the wait-and-see attitude caused by ongoing changes to the MaPrimeRenov' renovation program, and in part by a negative calendar impact of one day.
- The Concrete Industry showed some resilience, recording a limited 7.5% decline in turnover, reflecting a decline in volumes attributable to a sharp drop in housing starts.
Over the first half of 2024 as a whole, HERIGE Industries posted turnover of €215.6 million, down 13.5% on the same period in 2023.
Outlook and developments
With the sector in crisis, HERIGE Industries is striving to preserve its economic fundamentals by taking concrete steps to improve its structural and cyclical performance. However, the sharp downturn in business and the sector's bleak outlook will hamper the Group's profitability throughout 2024.
At the same time, HERIGE Industries is continuing its transformation aimed at bringing a fresh impetus focused on innovation, profitability and sustainability.
NEXT PUBLICATION: H1 2024 results on September 24, 2024 (after the close of trading)
All our financial communications are available on our website: www.herige-industries.fr/en
About HERIGE
HERIGE Industries focuses on two sectors of the building industry: the Concrete Industry and Industrial Joinery. HERIGE is a multi-regional group of Vendée origin, with a workforce of almost 2,000 employees, present in mainland France, Canada and overseas.
HERIGE is listed on Euronext Growth
PEA/PME eligible
Indices: EURONEXT FAMILY BUSINESS, EURONEXT GROWTH ALL SHARE, ENTERNEXT©PEA-PME 150
ISIN FR0000066540, Ticker: ALHRG, Reuters ALHRG.PA
CONTACTS
| HERIGE Benoît Hennaut – Chairman of the Executive Board Caroline Lutinier – Head of Group Communication & CSR Tel.: +33 (0)2 51 08 08 20 E-mail: communication@groupe-herige.fr |
ACTUS finance & communication Corinne Puissant – Analyst/Investor Relations Tel.: +33 (0)1 53 67 36 77 – E-mail: cpuissant@actus.fr Serena Boni – Press Relations Tel.: +33 (0)4 72 18 04 92 – E-mail: sboni@actus.fr |
[1] For information, sales of businesses (deconsolidated on May 1, 2024) generated turnover of €126.0 million in 2024 (contribution to Group consolidated turnover of €119.7 million, restated for inter-company accounts from January 1, 2024 to April 30, 2024)
[2] 2023 figures have been restated for the divested businesses
[3] Source: SDES, Sit@del2, estimations as of May 31, 2024
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Full and original press release in PDF: https://www.actusnews.com/news/86988-herige_ca_t2_2024_vuk_vdef.pdf
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