€792.9 million in turnover in 2022, up 11.4%
Benoît Hennaut, Chairman of the Executive Board of HERIGE Group, said: "HERIGE's performance in 2022 reflects the importance of its position in the markets, despite the high 2021 comparison basis. In a complex economic context, the Group recorded solid growth in turnover, both in its industrial and materials trading businesses. In 2022, we also accelerated our selective acquisitions strategy to support profitable and sustainable growth by building a range of solutions for more energy-efficient housing. In 2023, in a market environment that remains uncertain, the Group will continue to rely on its know-how, as well as its optimized organization and management model, to meet energy and decarbonization challenges.”
Q4 growth of 15.6% (9.1% like-for-like)
In the wake of the previous quarter, HERIGE’s good business dynamic continued in the fourth quarter, despite the unfavorable economic situation. The Group's three businesses contributed to growth, which came in at 15.6% (9.1% like-for-like) for turnover of €206.3 million. This growth was bolstered by a favorable price effect, due to performance initiatives, as well as a favorable volume/product mix effect.
- Industrial Joinery expanded by 36.7% (16.8% like-for-like). The business continued to report strong demand in distribution channels for energy renovation, wood and the AM-X product. It also benefited from the latest acquisitions: MGT and Poralu.
- Building Materials Trading was up 6.5% compared with the same period in 2021, driven by good momentum in Structural Works, joinery and Public Works, as well as showroom and self-service rollouts.
- Concrete Industry, with 11.4% growth (1.2% like-for-like), benefited from the integration of ready-mix concrete plants in the Aquitaine region (Audoin & Fils) and from good momentum in precast concrete.
Overall, HERIGE recorded a turnover of €792.9 million in 2022, up 11.4% (8.3% like-for-like), thanks to its responsiveness and ability to anticipate inflation.
Outlook and developments
In view of the performance achieved over the full year, as well as the Group’s discipline in protecting its margins, HERIGE expects to deliver a solid operating performance for the year ended December 31, 2022.
The Group is taking a cautious approach to 2023 in an uncertain geopolitical and macroeconomic environment marked by rising interest rates and persistently high inflation, as well as a slowdown in the new construction market. HERIGE remains focused on its value-generating development areas, namely by integrating and ramping up its latest acquisitions, consolidating its performances, rolling out its energy efficiency offers and accelerating its CSR initiatives.
NEXT PUBLICATION: 2022 results on March 28, 2023 (after the close of trading)
All our financial communications are available on our website: www.groupe-herige.fr/en
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