(Boursier.com) — Moulinvest announces its 2022-2023 annual results, marked by consolidated turnover down 11% to 100.8 million euros, Ebitda down 34% to 24.5 million and operating income down by 49% to 13.8 million euros. The group’s net profit stands at 9.7 million euros, down 47%. As of August 31, 2023, the group has 70.6 million euros in equity and a net overdraft cash position of 31.5 ME, for financial debts of 45.5 ME. The net debt to equity ratio is 0.20 and the leverage ratio (net debt to Ebitda) is 0.57. The board of directors decided to pay a dividend of 0.33 euros per share.
The climate of geopolitical and macroeconomic uncertainties combined with the inflationary context and the tightening of credit conditions continues to weigh on the construction timber activity. While visibility is relatively limited in the short term, the group reaffirms its confidence in the medium and long term. Indeed, to combat the effects of global warming, the use of wood should increase for new constructions as well as renovation. The medium-term turnover outlook is based on two parameters: increase in volumes and market prices. If recent investments in production capacity should benefit the increase in volumes, the sales prices currently trending downward will have a negative impact on turnover. On the pellet market, demand will partly depend on the strength of the climate over the next winter. The granulation activity has reached a normative production level. The group maintains a positioning focused on customer loyalty “by offering them a high level of quality in both products and associated services”. The Wood Energy activity is also at the heart of the development of energy markets in search of a natural and economical resource for the consumer. Finally, the group wishes to continue its policy of investment and modernization of industrial facilities carried out for several years. Depending on how the situation evolves, investments may be postponed over time.
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