In This Article:
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Activity still under pressure, as expected
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Roll-out of Transform 2025 plan
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Appointment of Emmanuelle Sarrabay to the Executive Board
SAINT-JEAN-DE-SOUDAIN, France, April 23, 2024--(BUSINESS WIRE)--Regulatory News:
SergeFerrari Group (FR0011950682 – SEFER) (Paris::SEFER), a leading global supplier of innovative flexible composite materials, listed on Euronext Paris – Compartment C, today announces its revenues for Q1 2024.
Sébastien Baril, SergeFerrari Group’s Chairman of the Executive Board, stated: "As anticipated, our core activities continued to suffer during the first quarter. In this context, we are reinforcing the activation of the various levers of the Transform 2025 plan to improve the Group's profitability profile. The launch of the plan in 2023 has already enabled us to achieve its first effects, and we intend to deploy the remaining measures and bring them to their full potential throughout 2024. Alongside these initiatives is the Group's constant commitment to addressing the environmental issues impacting its technologies."
Revenue breakdown by region (unaudited)
| (€ thousands) | Q1 2024 | Q1 2023 | Ch. at current | Ch. at constant |
| Europe | 53,789 | 64,770 | - 17.0% | - 18.0% |
| Americas | 7,678 | 9,276 | - 17.2% | - 18.8% |
| Asia – Africa – Pacific | 11,995 | 10,777 | + 11.3% | + 13.0% |
| Total revenues | 73,462 | 84,823 | - 13.4% | - 14.1% |
2024 First-Quarter Revenues
The Group reported revenues of €73.5 million for the first quarter of 2024, down -13.4% at current scope and exchange rates and -14.1% at constant scope and exchange rates, compared with the first three months of 2023, when growth was +7.3%, driven by the final effects of price increases and the acquisition of MSE, DCS and Baltijos Tentas.
The level of activity is thus explained by the combined effects of a -11.8% fall in volumes sold and a -1.8% price effect over the period. Changes in the scope of consolidation contributed +1.3% to revenues for the first three months of 2024 (Markleen acquired on April 1st, 2023), while the exchange rate effect was -0.5%.
Over the quarter, the environment observed in 2023 continued to weigh on the core activities.
Transform 2025 plan
In the first three months of 2024, the Group strengthened the various levers of the Transform plan to enable it to increase its profitability in the short and medium term and optimize the allocation of its resources. SergeFerrari Group is continuing to adapt its cost structure to ever shorter economic cycles, in particular by intensifying its industrial and logistics reorganization in Europe.