Neodecortech, profit down to 1.2 million euros in the first quarter

CSP 2022 turnover rises to 942 million with margins under

(Tiper Stock Exchange) – neodecortechlisted on Euronext STAR Milan and one of the main European operators in the production of decorative papers for faced panels and flooring used in the interior design sector, closed first quarter of 2023 with a sales equal to 46.5 million euros, -5.6% compared to 31 March 2022. TheEBITDA was equal to 3.7 million euros, -12% and equal to 8% of revenues.

L’consolidated net profit is equal to 1.2 million euros, compared to a consolidated net profit at 31 March 2022 equal to 4.2 million, and a adjusted net profit (excluding the non-recurring item relating to the write-off of the debt to MICA) equal to 1.4 million euros, equal to 2.7% of revenues.

“During the first three months of 2023 the price decrease for all strategic materials of the group, although reaching modest reduction levels compared to the growth recorded throughout 2022, which had seen a partial and difficult reversal on sales prices to end customers due to the gradual worsening of market sentiment, with a consequent contraction of margins compared to the previous year – commented theCEO Luigi Cologni – The temporal deferment of the transfer of changes in raw material prices to the sales price lists should have led to a significant recovery of margins in 2023. This recovery occurred only in part as a result of a weak questionalthough showing an improvement compared to the same period of 2022″.

“Regarding the trend of incoming orders, starting from the beginning of March, there was a trend reversal compared to the negative trend of the first two months of the year – he added – Certainly, for the next 18-24 months, the the challenge will be to defend the turnover levels achieved in 2022 while improving profitability levels and continuing to pay particular attention to the evolution of net financial debt”.

L’net financial debt as at 31 March 2023 it stood at 38.6 million euros and shows an increase of 7.3 million euros compared to 31 March 2022 and by 7.9 million euros compared to 31 December 2022.

(Photo: © Veerasak Piyawatanakul)