A dynamic Q4 2024, +13.6% vs Q4 2023, driven by an upturn in business across all zones (volume effect +22.3%)
Transform 2025 plan fully deployed
SAINT-JEAN-DE-SOUDAIN, France, January 30, 2025--(BUSINESS WIRE)--Regulatory News:
SergeFerrari Group (FR0011950682 - SEFER), one of the world leaders in innovative composite materials, listed on Euronext Paris - compartment C, today announced its revenue for the fourth quarter 2024 and full-year to the end of December 2024.
Revenues breakdown by geographical region (unaudited)
(€ thousands)
Q4 2024
Q4 2023
Ch. at current scope and exchange rate
Ch. at constant scope and exchange rate
FY 2024
FY 2023
Ch. at current scope and exchange rate
Ch. at constant scope and exchange rate
Europe
61,851
5,056
12.3%
11.3%
234,217
234,440
-0.1%
-0.2%
Americas
9,797
8,619
13.7%
14.3%
33,318
37,428
-11.0%
-10.6%
Asia – Africa – Pacific
18,160
15,381
18.1%
21.2%
56,102
55,771
-0.6%
2.1%
Total Revenues
89,807
79,056
13.6%
13.6%
323,637
327,639
-1.2%
-1.0%
Sébastien Baril, Chairman of the SergeFerrari Group’s Executive Board, stated: "The revenues we are reporting for Q4 2024 confirm the upturn in business that began in Q2 2024, enabling us to achieve a level of full-year revenues comparable to that of 2023. As expected, during the year we deployed the final initiatives of the Transform 2025 plan, notably with the implementation of new synergies within the Group. In the second half of the year, the Group implemented a number of measures to mitigate the impact of tensions on certain raw materials."
Activity as of December 31, 2024: revenues of €323.6 million
The Group reported revenues of €323.6 million for the full-year 2024, down slightly by -1.2% on a current consolidation scope and exchange rate basis, and by -1.0% on a constant basis. The level of business recorded over the 12 months confirms the gradual recovery in volumes observed since the end of the 1st half of 2024.
This global trend is the result of dynamics that remain highly contrasted according to the geographic zones addressed:
- The Europe region has returned to the level of activity observed in 2023, with revenues almost on a par with the previous period, down -0.1% on a current consolidation scope and exchange rate basis, and -0.2% on a constant scope.
- The Americas region continues to be penalized by a wait-and-see environment with the post-election transition in the United States and recorded a decline in revenues of -11.0% on a current consolidation scope and exchange rate, and -10.6% on a constant scope.
- The Asia-Pacific-Middle East-Africa region posted revenues down slightly (-0.6%) at current exchange rates and reporting entity, but up 2.1% at constant exchange rates and reporting entity.
4th quarter 2024 activity: revenues of €89.8 million
Revenues for the 4th quarter 2024 amounted to €89.8 million, up +13.6% both on a current and constant scopes, compared with the 4th quarter 2023, boosted by the upturn in business across all the Group's geographical regions.
The global trend for this 4th quarter 2024 results from:
The Europe region that accelerated its recovery (+11.3%), driven by all its strategic markets;
The Americas region that is experiencing a significant recovery (+14.3%), mainly in the Tensile Architecture and Modular Structure markets;
The APMEA region, which marks the end of Tensile Architecture's product lag (+21.2%), more than offsetting the delay accumulated over the first 3 quarters of the year.
And consists of:
A price/mix effect of -8.7%;
The absence of any significant currency impact;
A strong volume effect, up +22.3%.
Outlook
The rebound in business activity towards the end of the year should enable SergeFerrari Group to improve its operating profitability in the second half, while posting a net loss for the year. On the strength of these initial positive impacts, the Group intends to continue implementing the various operating efficiency measures set out in the Transform 2025 plan over the coming year. The full-year effects of this plan, combined with the current improvement in economic conditions in all our markets, confirm the Group's ambition to return rapidly to profitability.
Financial calendar
- Publication of 2024 Full-year results, on March 27, 2025, after market close.
ABOUT SERGEFERRARI GROUP
The Serge Ferrari Group is a leading global supplier of composite materials for Tensile Architecture, Modular Structures, Solar Protection and Furniture/Marine, in a global market estimated by the Company at around €6 billion. The unique characteristics of these products enable applications that meet the major technical and societal challenges: energy-efficient buildings, energy management, performance and durability of materials, concern for comfort and safety together, opening up of interior living spaces etc. Its main competitive advantage is based on the implementation of differentiating proprietary technologies and know-how. The Group has manufacturing facilities in France, Switzerland, Germany, Italy and Asia. Serge Ferrari operates in 80 countries via subsidiaries, sales offices and a worldwide network of over 100 independent distributors.
In 2024, Serge Ferrari posted consolidated revenues of €323.6 million, over 80% of which was generated outside France. The SergeFerrari Group share is listed on Euronext Paris – Compartment C (ISIN: FR0011950682). SergeFerrari Group shares are eligible for the French PEA-PME and FCPI investment schemes. www.sergeferrari.com
