Oeneo targets a similar annual current operating margin rate in the first half

(AOF) – In the third quarter of 2023-2024, Oeneo’s turnover fell by 19.7% to reach 71.3 million euros compared to 88.7 million euros a year ago. Its “corking” activity remained penalized over the period by stock adjustments in distribution channels and by a difficult situation for customers. The “breeding” activity shows a less marked decline. This quarterly evolution brings the turnover for 9 months 2023-2024 to 225.6 million euros, a decrease of -13.9% compared to the same period 2022-2023 (-13.6% at a rate of constant change).

The company specializing in cooperage and wine corking anticipates a better fourth quarter, linked to the expected return of orders from Corking distributors and a more favorable basis of comparison.

Oeneo expects a current operating margin rate for the year 2023-2024 equivalent to that of the first half of the year.

The group will publish its annual turnover for the 2023-2024 financial year on May 13, 2024.

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