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  HERIGE company press release from 14/05/2024

  14/05/2024 - 18:00

Q1 2024 TURNOVER


French GAAP - € million
Turnover
2024(1) 2023 Change %
1st quarter 195.0 227.1 -14.1%
TOTAL 195.0 227.1 -14.1%
Industrial Joinery 66.2 75.5 -12.3%
Concrete Industry 33.7 39.1 -13.8%
Building Materials Trading 89.7 106.8 -16.1%
Other 13.1 14.7 -11.1%
Inter-segment eliminations - 7.7 -9.0 -

(1) Unaudited figures - including discontinued operations of the Building Materials Trading, Public Works and Natural Stone businesses (VM Matériaux, LNTP and Cominex) to be deconsolidated in the Group's financial statements with effect from May 1, 2024.

The new construction market still in decline in Q1 2024

HERIGE Group posted turnover of €195 million for the first three months of 2024, down 14.1% on the same period in 2023. The downturn in activity at the start of the year reflects a heavily deteriorated new construction market, as well as a negative calendar effect.

  • The Industrial Joinery business, down 12.3%, was impacted by the introduction of the new MaPrimeRenov' renovation program and a negative calendar effect of 1 day.
  • The Concrete Industry was down 13.8%, reflecting a heavily deteriorated new construction market, but was offset by the increase in volumes for the low-carbon Vitaliss® concrete range and public works activities. The negative calendar effect over the first quarter was 1.5 days.
  • Building Materials Trading was down 16.1% against the backdrop of a challenging new construction market experiencing particular difficulty in single housing units (33.3% drop in individual single-family housing starts over the last 12 months). There was a negative calendar effect of 0.5 days over the period.

Outlook and developments

Despite ongoing challenges in an uncertain environment, particularly in a difficult new construction market, the Group remains determined to pursue the implementation of its strategic priorities. HERIGE will continue to strengthen its operating performance by maintaining strict financial management. At the same time, the Group is reinforcing its positioning in the high-growth renovation and refurbishment markets, while also continuing to promote its corporate social responsibility (CSR) objectives by rolling out transition plans aimed at reducing its carbon footprint and promoting the circular economy.

NEXT PUBLICATION: Q2 2024 turnover on July 23, 2024 (after the close of trading)

All our financial communications are available on our website: www.groupe-herige.fr/en


About HERIGE

HERIGE focuses on two sectors of the building industry: the Concrete Industry and Industrial Joinery. HERIGE is a multi-regional group of Vendée origin, with a workforce of almost 2,000 employees, present in mainland France, Canada and overseas.

HERIGE is listed on Euronext Growth
PEA/PME eligible
Indices:
EURONEXT FAMILY BUSINESS, EURONEXT GROWTH ALL SHARE, ENTERNEXT©PEA-PME 150
ISIN FR0000066540, Ticker: ALHRG, Reuters ALHRG.PA


CONTACTS

HERIGE
Benoît Hennaut – Chairman of the Executive Board
Caroline Lutinier – Head of Group Communication & CSR
Tel.: +33 (0)2 51 08 08 08
E-mail: communication@groupe-herige.fr
ACTUS finance & communication
Corinne Puissant – Analyst/Investor Relations
Tel.: +33 (0)1 53 67 36 77 – E-mail: cpuissant@actus.fr
Serena Boni – Press Relations
Tel.: +33 (0)4 72 18 04 92 – E-mail: sboni@actus.fr

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  Original Source: HERIGE