(AOF) – Veom Group posts a loss of 2.84 million euros in 2023 compared to a net profit of 3.62 million euros in 2022. Ebitda, restated for the research tax credit, is negative at of 28,000 euros, compared to a positive Ebitda of 550,000 euros a year earlier. The smart home specialist emphasizes that it is positive in the second half, rebounding to 0.4 million euros. Turnover fell by 11% to 25 million euros.
Regarding its prospects, Veom Group plans to “return to growth in its activity in 2024, at a pace which will be conditioned by the evolution of the economic context and in particular consumption in retail”.
The group intends to continue to increase its gross margin and significantly improve its Ebitda, accelerated by the implementation of a cost reduction plan of around 15% within the two divisions, the first effects of which will materialize in the second half of the year. 2024, and will be fully effective in the 2025 financial year.
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Sector sheet – Electronics
Large TVs booming
If specialists expected less appetite for large televisions after the health crisis, this is clearly not the case. The IFA highlighted the development of this equipment, with screens that can reach up to 120 inches. This market segment should see its activity driven by next summer’s Olympic Games. Leader for seventeen years in the television market, Samsung offers the most complete technological range. Large televisions are rather standard products for the Korean giant. As for the Chinese TCL, which took second place in the world market from LG, it is banking on the accessibility of its products, with prices significantly lower than those charged by Samsung. The group achieved growth of nearly 68% between the first half of 2021 and 2022 in the segment over 65 inches. Over one year, the average size of screens marketed by TCL increased from 46.3 to 49.9 inches. Another Chinese player, Hisense, is also seeking to gain market share in this niche.