(AOF) – Mastrad, a company specializing in the creation, design, contract manufacturing and distribution of kitchen products, recorded consolidated sales (unaudited) of 6.95 million euros for the fiscal year ended June 30, 2022, compared to 9.32 million as of June 30, 2021, down 25.4%. This decrease is largely attributable to the Ukrainian conflict and its various consequences, according to the company. Turnover in France amounted to 2.82 million, down 25%.
The halt given to economic activity with the Ukrainian conflict was felt very quickly. From the beginning of the hostilities, the attendance dropped, and the stores recorded a very serious decline in their sales. Similarly and surprisingly, online commerce, with Amazon first, has also taken off sharply. This situation is added to the shortage of components and the scarcity and cost of transport generating great difficulty in delivering to our customers.
No retail sector has been spared. The only category that is progressing with the recovery in tourism remains the hotel and catering industry, which posted an increase of more than 25% compared to N-1 thanks to the recovery in tourism and sales of connected probes.
Export turnover (excluding the USA) amounted to 1.32 million, showing a limited drop of 7.7%. Sales in the United States amounted to 2.81 million, down 31%.
The situation on the classic culinary market remains difficult with soaring cost prices and skittish consumers all over the world. The company has drastically reduced its operating costs. It is currently studying different opportunities to overcome these difficulties and will communicate on this subject in October.
Mathieu Lion, Chairman and Chief Executive Officer (CEO) of the group commented: “We have finally been able to supply the components necessary for the delivery of our ranges of IoT products, the turnover of which will be growing strongly over the current financial year with margins almost preserved.”
“We are continuing our investments more than ever in order to maintain our lead in the very buoyant connected kitchen sector. We can now be supplied with components and anticipate strong sustainable and contributory growth in this activity”, he added.
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