on TERACT (EPA:TRACT)
TERACT announces strong growth in the first half of 2023-2024
Significant progress in Food and improvement in profitability of Garden Center/Pet Center
By Roger HERRMANN - TERACT has published its results for the first half of the 2023-2024 fiscal year, revealing notable growth in its turnover and an improvement in its profitability. The turnover reached 397.3 million euros, marking an increase of 11.2% compared to the previous period. This performance is mainly due to the expansion of the Food sector, representing 18.3% of sales, as well as an increase in the adjusted EBITDA of the Garden/Pet center of 4.8 million euros.
Emphasis was placed on the development of own brands and cost control, leading to an improvement in margins. Despite a net loss of 40.8 million euros, a clear reduction in the loss is observed compared to the first half of the previous year, which included an exceptional cost of access to the market. The net financial debt increased to reach 534.2 million euros due to the seasonality of activities.
TERACT also announces the transition to a Mission Company in the first half of 2023-2024 and the appointment of Ludovic Holinier as Deputy Managing Director. These results demonstrate the company's management and adaptation efforts in the face of a difficult economic environment. The group continues to focus on innovation, diversification of the offering, and the development of its digital model to support its growth.