In This Article:
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Confirmed improvement in second-quarter activity vs. Q1 (-2.5% vs. -14.1%)
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Ongoing operational execution of the Transform 2025 plan
SAINT-JEAN-DE-SOUDAIN, France, July 25, 2024--(BUSINESS WIRE)--Regulatory News:
SergeFerrari Group (FR0011950682 – SEFER), a leading global supplier of innovative flexible composite materials, listed on Euronext Paris – Compartment C, today announces its revenues for the first half 2024.
Revenue breakdown by region (unaudited)
| (€ thousands) | Q2 2024 | Q2 2023 | Ch. at current scope and exchange rates | Ch. at constant scope and exchange rates | H1 2024 | H1 2023 | Ch. at current scope and exchange rates | Ch. at constant scope and exchange rates |
| Europe | 66,730 | 65,335 | +2.1% | +2.5% | 120,519 | 130,105 | -7.4% | -7.1% |
| Americas | 8,325 | 10,853 | -23.3% | -23.9% | 16,003 | 20,129 | -20.5% | -20.5% |
| Asia – Africa – Pacific | 13,387 | 14,537 | -7.9% | -9.0% | 25,382 | 25,314 | +0.3% | +0.6% |
| Total revenues | 88,442 | 90,724 | -2.5% | -2.5% | 161,904 | 175,548 | -7.8% | -7.6% |
Sébastien Baril, SergeFerrari Group’s Chairman of the Executive Board, comments: "In an economic climate that is gradually coming back to normal, SergeFerrari Group continued to adapt its cost structure through its Transform 2025 plan. Over the period, driven by the aim of optimizing our organization, we decided to concentrate our logistics activities and some of our cross-functional functions at our La Tour du Pin site, while continuing activities transfer. Although generating significant non-recurring expenses in the short term, these initiatives will reinforce our operating leverage and agility to take full advantage of the upturn in business expected in the second half of 2024."
Q2 2024 Activity
Revenues for Q2 2024 totaled €88.4 million, down slightly (-2.5%) on the same period last year, both on current and constant scope and exchange rates.
This change is explained by:
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A scope effect of +0.2%, resulting from the final effects of the creation of BSI, incorporated since Q4 2023;
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A favorable price-mix effect of +9.1%, due mainly to the strong recovery in the solar protection market;
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A volume effect of -11.8%, due in particular to the decline in the Modular Structures segment in the Americas and the Furniture/Marine segment in Europe;
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An exchange rate effect of -0.2%.
H1 2024 activity
The Group reported revenues of €161.9 million for the first half of 2024, down -7.8% at current scope and exchange rates and -7.6% at constant scope and exchange rates, as the market context observed in 2023 continued to weigh on the 1st quarter (Q1 revenues showed a decline of -14.1% vs. -2.5% in Q2).
Sales trends by geographical area over the half-year were as follows: