(Boursier.com) — Altheora achieved during the first half of 2023, a consolidated turnover of 22.8 ME, up 15% year-on-year. While the Group’s major historical markets remain sluggish, Altheora is seeing the first fruits of its diversification into new sectors. The order book, to date, stands at 11.3 ME, driven by low-carbon mobility, in particular the agricultural and railway sectors.
The fine management of purchases and resources, the optimization of industrial tools as well as the quality of customer relations allow the Group, in a tense economic context, to improve its operational performance. Thus, Ebitda increases to 1.5 ME (6.7% of turnover) vs. 686,000 euros in 2022 (3.5% of turnover) and the operating result is balanced. The increase in depreciation charges reflects the Group’s investment policy in its industrial assets, a vector of growth and future profitability. These clearly improved results confirm the effectiveness of the business model.
Unsurprisingly, the financial charges following the 2022 financing operations (432,000 euros) are reflected in the net result, down slightly to -0.4 ME. Cash flows linked to activity amount to +0.7 ME vs -0.2 ME in H1 2022 with a self-financing capacity of +1.2 ME. In one half-year, the Group reduced its debt by 1 ME. Cash flow includes targeted investments of -0.8 ME. Available cash flow is €4.6 million. As of June 30, 2023, Altheora has equity of €13.7 million.
As the growing need for carbon-free, efficient and eco-responsible industrial solutions becomes more and more evident, Altheora is gradually imposing its expertise at the pace of its achievements. With this in mind, the Group, guided by a fully motivated team, is continuing its strong R&D investment dynamic and is examining opportunities for targeted external growth, whether technological or industrial, in order to support its ambitions. Thus, in alignment with this new trajectory that is emerging, Altheora is actively working to develop its roadmap. A presentation of this development will be offered in the coming months.