(Finance) – GELan Italian company active in the water treatment sector, closed the third quarter of the year with a sales equal to 10.9 million euros, down 16% compared to the same period of the previous year equal to 13.02 million.
The residential sector – explains the company in a note – has been affected by the remodulation and reduction of bonuses for renovation
construction, recording a decline of 8% (approximately 10.4 million as of 30 September 2023 compared to approximately 11.25 million in the same period in 2022).
The continuous inflationary push and the increase in interest rates “have weighed on the investment decisions of industrial customers which has caused the sector to record a sharp decline” with a decrease of approximately 72% (0.5 million at 30 September compared to 1.77 for the same period 2022).