(Boursier.com) — The French luxury high-fidelity audio company, Cabassepublishes a 9-month turnover (unaudited) of 6.04 million euros for the period from January 1 to September 30, 2023. It falls by -15% compared to the same period in 2022 (7.08 ME).
Cabasse recorded a turnover down -14% in the 3rd quarter of 2023, to 2 ME. In the wake of the first half of 2023 (down -15% in activity), the company is suffering from a marked slowdown in retail sales, due to a degraded economic environment and prudent management of stocks by distributors.
The end of the quarter was, however, marked by the first deliveries of high-performance audio solutions as part of the brand partnership and acoustic engineering agreement with a major luxury house. These deliveries will ramp up by the end of the year. Cabasse is developing for this player a high-performance audio solution with exceptional sound qualities, noble materials and design in line with the brand’s signature.
Outlook
Given the adverse economic situation, Cabasse has postponed the launch of its two new flagship products in the Luxury Wireless Audio range until the first half of 2024.
At the end of the first 9 months of its financial year, Cabasse confirms its objective of significantly improving its gross margin rate in the 2nd half of 2023, and more broadly over the entire 2023 financial year (40% in 2022), scope by products from the ‘Luxury Wireless Audio’ range, the ramp-up of deliveries for a large luxury house and normalized supply costs in the 2nd half.
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