(Boursier.com) — With a new positioning on thermometers for temperature monitoring in the world of consumer and professional cooking, Mastrad achieved an annual turnover of 6.32 ME at the end of June 2023, in drop of 9%.
The distribution activity of Mastrad products stopped on March 31, 2023 following an agreement signed with the company M&CO in order to outsource the entire distribution activity of its classic (non-electronic) product ranges via a licensed concession. Despite this shutdown, turnover for the second half stood at €3.4 million, up 18% compared to the first half. The group’s share of net income was close to balance, showing an improvement compared to previous semesters.
The EBITDA margin for the second half thus improved slightly (-17.3% vs -19.2% in H2 of the previous financial year), for an annual EBITDA of -1 ME, compared to -0.8 ME one year earlier.
The operating margin remained stable over the year (-21% compared to -20.7% a year earlier), with an operating result of -1.3 ME.
The smaller gap this year between EBITDA and operating profit is mainly explained by reversals of provisions on stocks for an amount of 0.4 ME. The carrying value of inventories thus includes the sale made in April 2023 as part of the refocusing of activities on connected temperature probes. The group’s share of net income showed a deficit of €1.42 million over the financial year.
Following its refocusing, Mastrad indicates that it is accelerating the expansion of its range of wireless temperature probes with the launch of new products in early 2024, in order to complete its range of connected thermometers and maintain its leadership in temperature monitoring for cooking . The R&D teams are also working on new developments which will be released at the end of 2024 to support technological developments and increasingly specific consumer demands.
©2023 Boursier.com