Neodecortech, 9 month revenues down. Profit of 2.1 million euros

Neodecortech 9 month revenues down Profit of 21 million euros

(Finance) – Neodecortecha company listed on Euronext STAR Milan and among the main European operators in the production of decorative papers for melamine panels and flooring used in the interior design sector, has closed its first nine months of 2024 with net revenues consolidated amounts of 121.5 million euros, a decrease of 2.8% compared to 30 September 2023.

The gross operating margin (EBITDA) has an impact on net turnover of 9.1% (11.1 million) in line with 30 September 2023 (11.3 million and 9.1% impact). However, the EBITDA margin at 30 September 2023 included in other revenues the item relating to the maximization revenues pertaining to the year 2022. Therefore, net of this effect (2.6 million), the incidence on turnover goes from 9, 1% to 7.0%.

THE’net profit consolidated amount is equal to 2.1 million euros (1.8% of revenues) compared to a consolidated net profit at 30 September 2023 of 3.2 million and compared to an adjusted net profit (excluding the non-recurring item relating to the maximization 2022) to 30 September 2023 equal to 0.8 million.

THE’Net Financial Debt at 30 September 2024 it amounted to 39.1 million euros (36.0 million at 30 September 2023) and is still significantly affected by the delay in the collection of receivables relating to the PMGs and the part of the fixed costs of the maximization” by the subsidiary BEG. As of September 30, 2024, the amount of these receivables is equal to 18.2 million.

“The trend in revenues is decreasing compared to what was recorded in the same period of the previous year mainly as a consequence of the reduction in unit prices, but also, to a lesser extent, in volumes – commented theCEO Luigi Cologni – The latter effects compensated by Bio Energia Guarcino which operated continuously throughout the year 2024″.

“THE’trend of orders incoming – stable in the first half of 2024 – is now being affected by the general slowdown in demand that is characterizing the reference market with a consequent declining order book both compared to the historical trend and compared to expectations for 2024″, he added.

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