(AFP / JOEL SAGET)
Derichebourg, a specialist in environmental services and in particular metal recycling, saw its net profit fall by 56.1% in the first half of its delayed financial year, in an unfavorable market situation and due to a cyber attack.
During the first six months of its financial year, the group earned a net profit of 31.4 million euros, according to a press release published on Wednesday.
Its half-year turnover amounts to 1.73 billion euros over the period from October to March, down 4.9% compared to the previous year, adds Derichebourg, who announces “prospects more favorable for the second half of the year” and says it is confident about its development model.
The family group suffered a cyberattack in November which caused it to lose 15 to 20 million euros. It adds that it has suffered from a deteriorating economic situation in the markets where it is present (economic slowdown in Europe, steel and metallurgical customers affected, whether in the construction or automobile sectors).
Derichebourg indicated in April that he was revising his objectives downwards.
“It is currently unlikely that the delay in gross operating surplus (Ebitda) observed in the first half of the year will be made up in full by the end of the financial year, and that the Ebitda target of 350 million d “minimum euros for 2024 communicated when the 2023 results are published is achieved. A current objective of between 300 million euros and 310 million euros at the end of the year appears realistic in the current state of the economy”, indicates. he said on Wednesday.
However, Derichebourg estimates that its drop in results in the first half “is lower in percentage than that observed among (its) main listed competitors”.
“This clearly shows the robustness and relevance of our model. I have confidence in our prospects, in particular with a buoyant recycling market as part of the ecological transition,” commented its president, Daniel Derichebourg, quoted in the press release.
“The dynamic is positive with a second quarter in progress”, supported the general manager Abderrahmane El Aoufir, referring to the group’s “exceptional quality industrial assets in full ownership”, “including a significant part of the land assets, a structure solid financial situation without significant repayment deadlines in the short term (and) an ability to generate +free cash flow+”.
The group finally highlights its growth in service activities, notably with the return to profitability and growth of Elior Group of which it holds 48.3%.