(Telestock) – Claboa company listed on Euronext Growth Milan and active in the sector of professional display cases for ice cream parlors, pastry shops, bars, cafes and hotels, has closed the first semester of 2024 with Net Sales equal to 30.5 million euros, down 7.2% compared to 30 June 2023 due to the sales trend of the American subsidiary Howard McCray, which suffered from the reduction of inventories (destocking) by some retailers, a phenomenon already observed in the evolution of orders in the first quarter of 2024.
Gross Operating Margin on the rise (EBITDA) normalized which stands at 6.1 million euros (+18.9%), thanks to the improvement in the purchase prices of raw materials and the better sales mix of the subsidiary HMC, in addition to the continued pursuit of the strategy of containing structural costs at all plants.
The Normalized net result is growing and stands at 1.1 million euros (0.6 million at 06/30/2023). The reported net result is equal to 762 thousand euros, also improving compared to 166 thousand at June 30, 2023.
“The first half of 2024 was characterised by the persistence of very significant geopolitical and macroeconomic tensions – commented the President Pierluigi Bocchini – War conflicts, high interest rates and the increasing difficulties posed to international trade by the imposition of duties and customs barriers do not facilitate economic expansion. In this context, our group has been able to improve its profitability both in absolute terms and in terms of revenues thanks to the enormous effort to contain general costs and to further improve industrial efficiency”.
There PFN normalized amounted to 40.2 million euros, compared to 31.3 million at 31 December 2023. The increase is mainly attributable to the outlay that the group incurred for the payment of the minority stake in HMC held by Diane Scott in March 2024 and quantifiable overall at approximately 5 million.