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 months3) 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.
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.
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
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
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