(Boursier.com) — The group Oeneo achieved a turnover of 71.3 million euros in the third quarter of its 2023-2024 financial year, down 20% year-on-year. Oeneo cites a trend similar to that of the first six months of the financial year, amplified by a very high basis of comparison while the third quarter of 2022-2023 had recorded record activity driven by high orders from customers in anticipation of price increases from the beginning of 2023.
Oeneo specifies that Corking remained penalized over the period by stock adjustments in distribution channels and by a difficult situation for customers. But that Livestock shows a less marked decline.
This quarterly evolution brings the turnover for 9 months 2023-2024 to 225.6 ME, a decrease of -13.9% compared to the same period 2022-2023 (-13.6% at constant exchange rate) . Oeneo anticipates a better fourth quarter, linked to the expected return of orders from distributors in Closures and a more favorable basis of comparison. Oeneo ultimately expects for the 2023-2024 financial year a current operating margin rate equivalent to that of the first half of the financial year.
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