(CercleFinance.com) – Delfingen, a specialist in the protection and routing of electrical networks and fluids, rose sharply on the Paris Stock Exchange on Monday after reporting a “superb end to the financial year” according to the analysts.
The group unveiled Friday evening an annual turnover of 417 million euros for the 2022 financial year, up 14.9%, thanks in particular to a strong acceleration of its activity in the 4th quarter.
In its press release, the company highlighted the ‘continued’ outperformance of the automotive sector across all of its businesses and regions.
Euroland analysts note that the company ended the year ‘with a bang’ with fourth quarter revenue up 23.6% to 103.2 million euros, including organic growth of 19, 2%.
“The annual performance of Delfingen is of excellent quality and exceeds the guidance provided by the company, guidance which had nevertheless been revised upwards”, indicates the brokerage firm, which maintains its target price at 62 euros and its recommendation of ‘purchase.
For the 2023 financial year, the group says it anticipates a turnover of around 450 million euros for the year 2023, i.e. an expected increase of 8%, while the growth in global automotive production is expected. to 4% this year.
Following this publication, the title jumped 3.5% on Monday on the Paris Stock Exchange, against a drop of around 1.5% for the Paris market.
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