Gascogne: drop in 2023 results, the stock falls

( – The Gascogne paper group yesterday reported falling results for the 2023 financial year, penalized by the decline in demand and the normalization of its customers’ stocks.

After the strong growth recorded in 2022 (+15%), the year 2023 was marked by a gradual slowdown in commercial dynamics, explains the Landes company in a press release.

Its annual turnover thus amounts to 411.2 million euros, down 10.6% compared to 2022.

Ebitda stood at 40 million euros, down 26.8% compared to the record year 2022, a result which nevertheless constitutes its second best performance in more than 20 years.

If the group says it does not expect a commercial recovery before the second half of 2024, it notes that the first quarter seemed to mark an ‘inflection’, with several positive signals.

Gascogne nevertheless emphasizes that the global geopolitical and economic context, as well as changes in the prices of raw materials, transport costs and energy remain ‘points of vigilance’.

Listed on the Paris Stock Exchange, the stock fell by more than 7% on Wednesday morning following these announcements.

Copyright © 2024 All rights reserved.

Did you like this article ? Share it with your friends using the buttons below.





Source link -85