The new construction market still in decline in Q1 2024
HERIGE Group posted turnover of €195 million for the first three months of 2024, down 14.1% on the same period in 2023. The downturn in activity at the start of the year reflects a heavily deteriorated new construction market, as well as a negative calendar effect.
- The Industrial Joinery business, down 12.3%, was impacted by the introduction of the new MaPrimeRenov' renovation program and a negative calendar effect of 1 day.
- The Concrete Industry was down 13.8%, reflecting a heavily deteriorated new construction market, but was offset by the increase in volumes for the low-carbon Vitaliss® concrete range and public works activities. The negative calendar effect over the first quarter was 1.5 days.
- Building Materials Trading was down 16.1% against the backdrop of a challenging new construction market experiencing particular difficulty in single housing units (33.3% drop in individual single-family housing starts over the last 12 months). There was a negative calendar effect of 0.5 days over the period.
Outlook and developments
Despite ongoing challenges in an uncertain environment, particularly in a difficult new construction market, the Group remains determined to pursue the implementation of its strategic priorities. HERIGE will continue to strengthen its operating performance by maintaining strict financial management. At the same time, the Group is reinforcing its positioning in the high-growth renovation and refurbishment markets, while also continuing to promote its corporate social responsibility (CSR) objectives by rolling out transition plans aimed at reducing its carbon footprint and promoting the circular economy.
NEXT PUBLICATION: Q2 2024 turnover on July 23, 2024 (after the close of trading)
All our financial communications are available on our website: www.groupe-herige.fr/en
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