from VM MATERIAUX (EPA:VMMA)
HERIGE: TURNOVER OF EUR 306.9 MILLION FOR THE NINE-MONTHS ENDED SEPTEMBER 30, 2024
| French GAAP – € million Turnover – non audited data | 2024[1] | 2023[2] | Change |
| 1st quarter | 107.5 | 124.2 | -13.4% |
| 2nd quarter | 108.1 | 125.2 | -13.6% |
| 3rd quarter | 91.3 | 103.0 | -11.4% |
| TOTAL | 306.9 | 352.4 | -12.9% |
| Industrial Joinery | 176.4 | 204.9 | -13.9% |
| Concrete Industry | 103.2 | 111.3 | -7.3% |
| Other | 34.0 | 43.3 | -21.4% |
| Inter-segment eliminations | (6.7) | (7.1) | - |
A still challenging environment in the third quarter of 2024
In line with expectations, HERIGE posted turnover of €91.3 million in the third quarter of 2024, down 11.4% on the same period in 2023. This downturn reflects a new construction market that remains heavily deteriorated, marked by a historic drop in individual single-family housing starts over the last 12 months[3] (down 32.7%), and heightened uncertainty in France concerning support for the renovation sector.
- The Industrial Joinery business was down 13.7% in third-quarter 2024 (down 15.4% excluding the calendar effect), hampered by the wait-and-see attitude caused by ongoing uncertainty surrounding the development of the Prêt à Taux Zéro interest-free loan and the MaPrimeRenov' renovation program, for which the terms and conditions are still pending.
- The Concrete industry posted a slight 0.9% increase in turnover in third-quarter 2024, benefiting from a favorable calendar effect (-9.5% offset by the calendar effect) and positive trends in volumes for ready-mix concretes, demonstrating a certain resilience.
Consequently, over the first nine months of the year, HERIGE's turnover was down 12.9% (down 13.4% excluding the calendar effect) on the same period in 2023, coming in at €306.9 million.
Outlook and developments
In a persistently deteriorated environment, HERIGE is focusing on preserving its economic fundamentals by taking concrete steps to improve its structural and cyclical performance. However, the sharp downturn in business and the sector's bleak outlook will hamper the Group's profitability throughout 2024.
NEXT PUBLICATION: Q4 2024 turnover on February 4, 2025 (after the close of trading)
All our financial communications are available on our website: www.herige-industries.fr/en
About HERIGE
HERIGE Industries 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 20 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 |
[1] For information, sales of businesses (deconsolidated on May 1, 2024) generated turnover of €126.0 million in 2024 (contribution to Group consolidated turnover of €119.7 million, restated for inter-company accounts from January 1, 2024 to April 30, 2024)
[2] 2023 figures have been restated for the divested businesses
[3]Source: SDES, Sit@del2, estimations as of end of September 2024