HERIGE Industries Reports 11.9% Turnover Decline for 2024

HERIGE Industries announced a turnover of €406.1 million for the year 2024, marking an 11.9% decrease compared to 2023. The downturn was primarily due to a weakened new construction market and economic uncertainties. The company registered a 12.5% decline in the Industrial Joinery sector in the fourth quarter, largely affected by the housing sector's struggles and delays in governmental renovation programs. Meanwhile, the Concrete Industry experienced a 3.5% decline, indicating moderate resilience amidst competitive pressures.

HERIGE Industries sold VM Guadeloupe as part of its strategic refocus, impacting 2024's financials minimally with a turnover of €2.8 million. Moving forward, HERIGE is implementing a reorganization plan announced in December 2024, aiming for operational improvements and cost reductions of approximately €7.0 million annually. Non-recurring expenses related to this plan are expected to range between €10 million and €11 million.