HERIGE: Results for the first half of 2024

HERIGE has revealed its results for the first half of 2024. Despite a construction market in sharp decline, the group recorded a turnover of 215.6 million euros, showing a decrease of 13.5% compared to the same period in 2023. This situation results from the drop in housing construction permits and a weakened renovation market. The operating result reached 4.7 million euros, a significant decrease compared to 2023.

In terms of profitability, EBITDA stands at 12.1 million euros, compared to 21.0 million over the same period last year. HERIGE nevertheless managed to improve its gross margin rate by 1.3 points thanks to synergies and a price increase. The group recorded a net result of 29.4 million euros, supported by a capital gain on the sale of the Trading activities.

On the financial side, HERIGE's equity amounts to 165.7 million euros, while net financial debt is reduced to 23 million. This significant reduction in debt is attributable to the sale of certain activities.

For the remainder of the year, HERIGE anticipates continued challenging market conditions but remains confident in its ability to adapt through its management initiatives. The group continues its efforts to maintain its competitiveness despite the challenges.

Third quarter 2024 revenue will be released on November 5, 2024.