(Boursier.com) — For Upergy, the first quarter of 2022 took place in an unfavorable context marked by strong international tensions on supplies. The latter result in delays, either at the level of deliveries during temporary stock shortages, or at the level of orders when customers are themselves impacted in their own production.
The quarterly change is also explained by a base effect linked to the closure of 3 stores during the previous financial year, but which still contributed to the 1st quarter of 2021. Invoicing amounted to 11.4 ME, down -9 % (-10% at constant exchange rate).
The ‘BtoB’ division (88% of activity) limits its decline to -5%; a development due to disruptions linked to supplies and a return to normal in orders from the medical sector after a sharp increase linked to the health crisis in 2020 and 2021.
The ‘BtoC’ division (12% of activity) posted a more pronounced decline (-30%) in line with previous quarters, due to the reduction in supply now concentrated on the most profitable products and the base effect due to the rationalization of the number of stores.
Prospects confirmed
Upergy is pursuing its strategy of prioritizing margins over business volume.
Despite a still difficult economic situation, the Group is counting on a gradual improvement in its activity over the current financial year, thanks to its commercial actions in ‘BtoB’ and a lower and lower basis of comparison over the coming quarters in ‘BtoC’. ‘.
Furthermore, the decline in activity in the first quarter did not affect operating profitability for the period, which benefited from the transformations of recent years. The Group thus confirms its ambition to consolidate in 2022 the levels of profitability achieved in 2021 and to strengthen its operational efficiency to gradually approach the objective of an EBITDA margin of 9% set in the medium term.
Next press release: Invoicing for the first half of 2022, July 7, 2022 after market close.
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