(Boursier.com) — In the 2nd quarter of its 2022 financial year, Cabasse Group achieved consolidated revenue of 6.1 million euros, down -5% compared to the 2nd quarter of 2021, which constituted a very demanding base effect (+37% growth in the 2nd quarter of 2021).
The past period remained disrupted by global tensions in freight transport (repeated closure of ports in China due to the Covid pandemic and port congestion in Europe) which resulted in supply delays on certain ranges of products and components.
At the end of the 1st half of 2022, consolidated turnover fell slightly by -9%, to 12.4 ME, whereas growth had amounted to +28% over the same period last year.
Outlook
At the end of the first half of 2022, the group confirms its annual objectives. Cabasse is aiming for sustained growth in its Cabasse Audio division, which began to materialize in the 2nd quarter and which will be driven by the extension of the range at the start of the 2022 school year. The Chacon & DIO Home division should gradually return to more sustained activity, thanks to the launches of new products for the Smart Home in the second half of 2022.
Cabasse Group also anticipates a further improvement in the gross margin rate, with the growing contribution of new technological products and a favorable business mix linked to the growth of Cabasse Audio; the gradual return to normative levels of transport costs over the year; the positive impact of the annual increases in effective sales prices since January 1, 2022;
The Ebitda margin is expected to increase, taking advantage of the improvement in the gross margin and a cost structure that remains under control. Cabasse Group reiterates its ambition to move towards the target level of 10% Ebitda margin by 2022, during the 2nd half.
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