CABASSE GROUP 2023 financial results: marked progress in gross margins and cost reduction plan

In 2023, CABASSE GROUP saw its gross margin rate improve significantly, reaching 41.6%, an increase of 400 basis points compared to the previous year. This performance is attributed to the high-end evolution of Cabasse Audio and the technological innovations of Chacon & DIO in the Smart Home sector. Despite an 11% drop in revenue, adjusted EBITDA is close to breakeven.

The cash position stood at €1.5 million at the end of the year. For 2024, the group is considering a 15% cost reduction plan aimed at improving EBITDA and divisional performance. The evolution of these results will largely depend on the economic context and the recovery of sales in the retail sector.

In terms of outlook, CABASSE GROUP foresees continued improvement in gross margin thanks to effective upscaling strategies and cost optimization planned for both divisions. The main objective remains a gradual return to growth.