(CercleFinance.com) – Airwell gained more than 8% on the Paris Stock Exchange on Wednesday after reporting a record turnover of 65 million euros for 2023, an increase of 17%.
The heat pump design specialist emphasizes that this level of activity, higher than its initial ambitions, was driven by a very strong 42% growth in the 4th quarter, driven by excellent momentum in France, the group’s first market.
In a reaction note, Invest Securities analysts say they are impressed by these performances, which according to them confirm ‘the relevance of the strategy of marketing more and more integrated solutions’.
The brokerage firm thus increases its price target from 5.8 to 6.5 euros, while renewing its purchase recommendation on the stock.
Building on this good level of activity, Airwell said it anticipates an EBITDA margin of 5% for the 2023 financial year, to be compared with 2.8% in 2022, thus taking two years ahead of its objective which anticipated the reaching such a figure by 2025.
The group – which has set itself the objective of a turnover greater than 100 million euros for 2025 – plans to communicate its new ambitions in terms of EBITDA margin on the occasion of the publication of its 2023 annual results , scheduled for April 23.
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